602 Day AVE SW, Roanoke, VA 24016
$950,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
19,602
Status:
Closed
Current Price:
$950,000
List Date:
2/19/2019
Last Modified:
9/22/2024
Description
17 unit brick, garden apartment building with 11 x 1BR/1BA units & 6 x 2BR/1BA units + on site coin laundry. Currently 1BR units rent between $550-$565 & 2BR units rent between $650-$675. The property was gutted & completely renovated within the last 10 years, including all major systems, including new central HVAC units, kitchens, & baths, as well as the addition of laundry facilities on site. The property is stable & performing well under professional management. Each unit has central HVAC & individual electric. Owner pays water/sewer, house electric only, & dumpster only. Turnkey property with additional upside available by continued cosmetic upgrades to unit interiors.
More Information MLS# 856181
General Property Description
Lot Dimensions: 150 x 130
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 0.45
Present Use: Built-As
# Furnished: 0
# Unfurnished: 17
# Leased Units: 16
Gross Bldg SQFT: 12240
Basement Y/N: No
Water Class: N/A
Parking Description: Private (10 or More)
# Vehicle Spaces: 17
Gross Income: 115308
Year Built: 1986
Number of Units: 17
Operating Expense: 40367
Net Operating Income: 74941
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Phase: 0
Lot: 12-14
Block: 3
Tax ID: 1120513
Annual Taxes: 7433
Section: 0
Zoning Code: RM-2
POA Y/N: No
Area: 0130 - City of Roanoke - SW
Street Number: 602
Street Name: Day
Street Suffix: AVE
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24016
Subdivision: Old Southwest
Municipality: City of Roanoke
Elementary School: Wasena
Middle School: James Madison
High School: Patrick Henry
Remarks & Misc
Directions: Corner of 6th Street SW & Day Ave SW
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Basement
Slab: 1
Heating
Forced Air Electric: 1
Cooling
Central Air: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Owner Expenses
Sewer: 1
Trash Disposal: 1
Water: 1
Tenant Expenses
Air Conditioning: 1
Electricity: 1
Heating: 1
Expenses
Management Exp: 9225
Maintenance Exp: 11531
Tax Exp: 7433
Insurance Exp: 3593
Electric Exp: 1663
Water Exp: 3145
Other Exp: 3778
Contract Information
Current Price: $950,000
Sold Price: $950,000
List Date: 2019-02-19
Status: Closed
Status Change Info
Ratified Contract Dt: 2019-03-01
Sold Date: 2019-05-02
Sold Price: $950,000
Property Features
Limited Service: Not Limited Service
Construction: Brick
Basement: Slab
Heating: Forced Air Electric
Cooling: Central Air
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Water Heater Energy: Electric
Owner Expenses: Trash Disposal; Water
Tenant Expenses: Air Conditioning; Electricity; Heating
Listing Office:
WALDVOGEL COMMERCIAL PROPERTIES
Last Updated: September - 22 - 2024
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