378 Elm AVE SW, Roanoke, VA 24016 (MLS# 818116)

$725,000

378 Elm AVE SW
Roanoke, VA 24016
MLS# 818116

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Property Description
Elegant brick apartment building located within walking distance of Downtown in Roanoke' s historic Old Southwest neighborhood. This 14 unit building features a mix of one-bedroom, two-bedroom and studio apartments with a strong rental history. Amenities include refinished hardwood floors throughout and a coin operated laundry facility for additional income. A brand new architectural shingle roof

Details

Maps

Contract Information

Current Price: $900,000

Sold Price: $900,000

List Date: 2015-08-05

Status: Closed

General Property Description

Multi-Family Type: Apartments

Construction Status: Completed

Year Built: 1920

Present Use: Built-As

Number of Units: 14

# Unfurnished: 14

# Leased Units: 14

Gross Bldg SQFT: 8208

Lot Dimensions: 50 x 130

Total Acreage: 0.15

Basement Y/N: Yes

Basement: Partial Basement

Parking Description: Street

Operating Expense: 49335

Net Operating Income: 58695

Gross Income: 111000

Water Class: N/A

Location, Legal & Taxes

Major Area: 01 - City of Roanoke

Area: 0130 - City of Roanoke - SW

Street Number: 378

Street Name: Elm

Street Suffix: AVE

Street Direction Sfx: SW

State/Province: VA

Zip Code: 24016

Subdivision: Old Southwest

Lot: 1

Block: 14

Municipality: City of Roanoke

Tax ID: 1020701

Annual Taxes: 6001

Zoning Code: RM-2

POA Y/N: No

Elementary School: Hurt Park

Middle School: James Madison

High School: Patrick Henry

Remarks & Misc

Directions: I 581 to right (west) on Elm Ave. Property on left at corner of Elm and 4th.

Status Change Info

Ratified Contract Dt: 2015-08-29

Sold Date: 2015-11-18

Sold Price: $900,000

Miscellaneous Info

Public Transport: Yes

Property Features

Limited Service: Not Limited Service

Construction: Brick

Heating: Radiator Gas Heat

Cooling: Window A/C

Water Description: Public Water

Sewer Description: Public Sewer

Water Heater Type: Tank

Lease Type: One Year

Owner Expenses: Electricity; Management Fee

Misc Features: Current Lease; Historical Theme

Tenant Expenses: No Utilities

Supplements

was installed within the last 12 months. All utilities are currently paid by the landlord with gas radiator heat and window a/c units. Fantastic rental history with an average monthly rental amount of $660.

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: November - 22 - 2015

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