515 8th ST SW, Roanoke, VA 24016
$2,300,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
75,359
Status:
Closed
Current Price:
$2,300,000
List Date:
1/15/2020
Last Modified:
9/24/2024
Description
Multiple offers received. Highest and best due no later than 5 PM Tuesday, February 4th. Tastefully renovated SW luxury living with 24 residential all featuring granite counters, stainless steel appliances, dishwashers, in unit laundry, individual heat pumps, and elegant fixtures and finishes. In 2017, Few Old Goats microbrewery space on premise and opened a popular tasting room and outdoor patio beer garden. Residents enjoy affordable, convenient apartment living close to downtown attractions such as the Jefferson Center for arts and entertainment, the Roanoke River Greenway and convenient access to major employers such as the VA Tech / Carilion Medical School and Roanoke Memorial Hospital.
Supplements: With other community amenities such as private off-street parking, community courtyard and BBQ and an off-leash pet area, the West End Flats offer a competitive rental advantage over other SW properties that creates reliable, long-term value for investors and an opportunity to acquire a stable, performing asset that will benefit from the continued growth and expansion.
More Information MLS# 866001
General Property Description
Lot Dimensions: 410x185
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 1.73
# Furnished: 1
# Unfurnished: 23
# Leased Units: 23
Gross Bldg SQFT: 19336
Basement Y/N: Yes
Water Class: N/A
Parking Description: Private (10 or More)
Gross Income: 289466
Year Built: 1950
Number of Units: 24
Operating Expense: 110882
Net Operating Income: 178583
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Phase: 0
Lot: LOT 1 2 & W PTS 3 4
Block: 1
Tax ID: 1113111
Annual Taxes: 4256
Section: 0
POA Y/N: No
Area: 0130 - City of Roanoke - SW
Street Number: 515
Street Name: 8th
Street Suffix: ST
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24016
Subdivision: N/A
Municipality: City of Roanoke
Elementary School: Wasena
Middle School: James Madison
High School: Patrick Henry
Remarks & Misc
Directions: from downtown head west on Campbell Ave Property on corner of Campbell and 8th.
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Basement
Partial: 1
Heating
Heat Pump Electric: 1
Cooling
Central Air: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Owner Expenses
Other - See Remarks: 1
Tenant Expenses
Other - See Remarks: 1
Contract Information
Current Price: $2,300,000
Sold Price: $2,300,000
List Date: 2020-01-13
Status: Closed
Status Change Info
Ratified Contract Dt: 2020-02-06
Sold Date: 2020-04-10
Sold Price: $2,300,000
Property Features
Limited Service: Not Limited Service
Construction: Brick
Basement: Partial
Heating: Heat Pump Electric
Cooling: Central Air
Water Description: Public
Sewer Description: Public Sewer
Owner Expenses: Other - See Remarks
Tenant Expenses: Other - See Remarks
Listing Office:
WALDVOGEL COMMERCIAL PROPERTIES
Last Updated: September - 24 - 2024
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