NOT LISTED FOR SALE

225 E Murray St Unit & 229 Fincastle, VA 24090

-- Bed
-- Bath
4,590 Sq Ft
1.15 Acres

Last Sold October 15, 2021

Last sale price $755,000 $164 Per Sq Ft

26 Days on Market

Highlights

  • Mountain View
  • No HOA
  • Central Air
  • Central Academy Middle School Rated A-
  • Storage
  • 3-minute walk to Fincastle Historic District

About This Home

As of October 2021

12 unit apartment complex in very desirable location, Top apartment is former Central Academy school which was transformed to apartments in 1970, Great investment opportunity and income could rise as rent has not increased in the last 4 years! Recent upgrades include: Paved parking lot with individual parking spots painted. New metal roof on upper apartment building installed in 2020. New roof on lower apartment building installed in 2018. Ten new HVAC units out of the 12 installed within the last 5 years. New guttering on both buildings. Upper building has two 2 bedroom apartments, one two bedroom and 2 one bedroom apartments. Lower building has 7 two bedroom apartments.

Last Agent to Sell the Property

Rory Benson

MKB, REALTORS(r) License #0225242765 Listed on: 07/21/2021

MKB, REALTORS(r)

Last Buyer's Agent

Grant Cockrell

RE/MAX ALL STARS License #0225175737

RE/MAX ALL STARS

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $4,298

Year Built

  • Built in 1970

Lot Details

  • 1.15 Acre Lot

Parking

  • 20 Parking Spaces

Interior Spaces

  • 4,590 Sq Ft Home
  • Ceiling Fan
  • Storage
  • Mountain Views
  • Crawl Space

Schools

  • Breckinridge Elementary School
  • Central Academy Middle School
  • James River High School

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for all utilities, cable TV, deposit
  • Tax Lot 108-109

Community Details

Overview

  • No Home Owners Association
  • 12 Units

Building Details

  • 12 Leased Units
  • Electric Expense $240
  • Maintenance Expense $1,500
  • Other Expense $1,800
  • Water Sewer Expense $3,360
  • New Taxes Expense $4,298
  • Operating Expense $11,200
  • Gross Income $78,720
  • Net Operating Income $67,520

Property Details

Home Type

Apartment

Est. Annual Taxes

$4,298

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Interior Features: Ceiling Fan, Storage
  • Heating System: Heat Pump Electric
  • Type: Multi-Family
  • Has Basement: Crawl Space
  • Cooling System: Central Cooling
  • Views: Mountain
  • ExpensesOtherExp: 1800.00
  • ExpensesTaxExp: 4298.00
  • Internet Access: Cable
  • Major Area: 07 - Botetourt County
  • MiscellaneousInfoPublicTransport: No
  • NumberLeasedUnits: 12.00
  • NumberUnfurnished: 12.00
  • NumberVehicleSpaces: 20.00
  • Hoa2 Or Poa: No
  • TotalAnnualExpen: 11200.00
  • Water Class: N/A
  • Water Heater Energy: Electric
  • YardSign: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement YN: No

Garage/Parking

  • Parking Description: Private (10 or More)

Utilities

  • Sewer Description: Public Sewer
  • Expenses Water Exp: 3360.00
  • Water Description: Public Water

Association/Amenities

  • Misc Features: Current Lease, Pet Allowed

Lot Info

  • Property Group Id: 19990816212116581394000000
  • Total Acreage: 1.15
  • Lot: 108-109

Building Info

  • Year Built: 1970

Tax Info

  • Taxes (6 mo): 4298.00

Multi Family

  • Lease Type: Month-to-Month
  • Tenant Pays: All Utilities, Cable TV, Deposit
  • Units In Building: 12.00
  • Multi Family Type: Apartments

MLS Schools

  • Elementary School: Breckinridge
  • HighSchool: James River
  • Middle School: Central Academy

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/15/2021 10/15/21 Sold $755,000 -5.5% $164 / Sq Ft
08/16/2021 08/16/21 Pending -- -- --
07/21/2021 07/21/21 For Sale $799,000 -- $174 / Sq Ft
Source: Roanoke Valley Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Rory Benson

    Seller's Agent in 2021

    Rory Benson

    MKB, REALTORS(r)

    (540) 353-7173

    56 Total Sales

    Rory Benson
    Section Image
  • Grant Cockrell

    Buyer's Agent in 2021

    Grant Cockrell

    RE/MAX

    (540) 580-8232

    199 Total Sales

    Grant Cockrell
    Section Image
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Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 882128

Roanoke Valley Association of REALTORS®
Virginia Botetourt County Fincastle 24090

225 E Murray St Unit & 229, Fincastle, VA

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