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$1,087,500
2353 Mountain View TER SW & 2363
Roanoke, VA 24015
MLS# 820688

Mountain View Terrace Apartments
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Mountain View Terrace Apartments IMG_1467a IMG_1468 IMG_1507 IMG_1504 IMG_1556a IMG_1562 IMG_1483 IMG_1563 IMG_1490 IMG_1495 IMG_1500 IMG_1570 IMG_1575 IMG_1479

Property Description
30x1 BR multifamily investment opportunity located in the heart of SW Roanoke City near historic Grandin Village. Property consists of two low-maintenance brick buildings situated on slab with off-street parking, central HVAC, & coin laundry. Some units have been upgraded with elegant tile backsplashes, modern appliances, & new laminate flooring. Current average rent is only $450, presenting a significant revenue growth opportunity through gradually increasing rents to market rate. With strong rental demand and historic performance, this asset pairs predictable cash flows with the potential to add value.

Details
Maps
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1971
Present Use: Built-As
Number of Units: 30
# Unfurnished: 30
# Leased Units: 26
Gross Bldg SQFT: 16698
Lot Dimensions: Irregular
Total Acreage: 0.82
Basement Y/N: No
Parking Description: Private (10 or More)
# Vehicle Spaces: 30
Operating Expense: 50146
Net Operating Income: 103754
Gross Income: 162000
Water Class: N/A
Location, Tax & Legal
Area: 0130 - City of Roanoke - SW
Street Number: 2353
Street Name: Mountain View
Street Suffix: TER
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24015
Subdivision: Virginia Heights
Municipality: City of Roanoke
Elementary School: Virginia Heights
Middle School: Woodrow Wilson
High School: Patrick Henry
Expenses
Management Exp: 12312
Maintenance Exp: 7969
Tax Exp: 10114
Insurance Exp: 3465
Electric Exp: 1224
Water Exp: 6931
Contract Information
Current Price: $1,087,500
Sold Price: $1,087,500
List Date: 2015-11-06
Status: Closed
Status Change Info
Ratified Contract Dt: 2015-12-01
Sold Date: 2016-04-08
Sold Price: $1,087,500
Property Features
Limited Service: Not Limited Service
Construction: Brick
Basement: Slab
Heating: Heat Pump Electric
Cooling: Heat Pump Electric
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Water Heater Energy: Electric
Owner Expenses: Water
Views: Mountain(s)
Tenant Expenses: Air Conditioning; Electricity; Heating
Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: September - 18 - 2024

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