1317 3rd ST SW, Roanoke, VA 24016 (MLS# 785793)

$245,000

1317 3rd ST SW
Roanoke, VA 24016
MLS# 785793

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Property Description
This beautifully renovated mixed-use property in historic Old Southwest features 3 residential units and 4 single-room offices. Both the location and cash-flow potential present a great investment opportunity. Private paved parking lot in back. Commercial space features reception area, kitchenette, and restroom. Apartments have central air, metered utilities, and individual hot water heaters.

Details

Maps

Contract Information

Current Price: $227,500

Sold Price: $227,500

List Date: 2012-09-24

Status: Closed

General Property Description

Multi-Family Type: Other - See Remarks

Construction Status: Completed

Year Built: 1910

Present Use: Converted

Number of Units: 7

# Unfurnished: 7

# Leased Units: 5

Gross Bldg SQFT: 3634

Lot Dimensions: 45x150

Total Acreage: 0.15

Basement Y/N: Yes

Basement: Full Basement

Parking Description: Private (1 - 9)

# Vehicle Spaces: 6

Operating Expense: 7450

Net Operating Income: 16550

Gross Income: 24000

Water Class: N/A

Location, Legal & Taxes

Major Area: 01 - City of Roanoke

Area: 0130 - City of Roanoke - SW

Street Number: 1317

Street Name: 3rd

Street Suffix: ST

Street Direction Sfx: SW

State/Province: VA

Zip Code: 24016

Subdivision: Old Southwest

Lot: 11

Block: 1

Municipality: City of Roanoke

Tax ID: 1030511

Annual Taxes: 2817

Zoning Code: MX

POA Y/N: No

Elementary School: Highland Park

Middle School: James Madison

High School: Patrick Henry

Remarks & Misc

SA Comp: 3

Directions: Heading South on Franklin Road, turn Left on Walnut and then Right onto 3rd Street.

Status Change Info

Ratified Contract Dt: 2013-09-11

Sold Date: 2013-12-23

Sold Price: $227,500

Expenses

Maintenance Exp: 2400

Tax Exp: 2817

Insurance Exp: 600

Electric Exp: 333

Water Exp: 1300

Property Features

Limited Service: Not Limited Service

Construction: Brick; Wood

Heating: Heat Pump Electric

Cooling: Heat Pump Electric

Water Description: Public Water

Sewer Description: Public Sewer

Lease Type: One Year; Month-to-Month

Owner Expenses: Electricity; Water

Interior Features: Storage

Misc Features: Current Lease; Historical Theme

Tenant Expenses: Air Conditioning; Electricity

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: December - 25 - 2013

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