NOT LISTED FOR SALE

2353 Mountain View Terrace SW Unit & 2363 Roanoke, VA 24015

Norwich Neighborhood
-- Bed
-- Bath
16,698 Sq Ft
0.82 Acres

Last Sold April 08, 2016

Last sale price $1,087,500 $65 Per Sq Ft

25 Days on Market

Highlights

  • 0.82 Acre Lot
  • Mountain View
  • No HOA

About This Home

As of April 2016

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.

Last Buyer's Agent

Non Member Transaction Agent

Non-Member Transaction Office

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $10,114

Year Built

  • Built in 1971

Lot Details

  • 0.82 Acre Lot

Parking

  • 30 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Slab Foundation

Interior Spaces

  • 16,698 Sq Ft Home
  • Mountain Views

Schools

  • Virginia Heights Elementary School
  • Woodrow Wilson Middle School
  • Patrick Henry High School

Utilities

  • Heat Pump System
  • Electric Water Heater

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heating
  • Tax Lot 1 & 2

Community Details

Overview

  • No Home Owners Association
  • 30 Units
  • Virginia Heights Subdivision

Building Details

  • 26 Leased Units
  • Electric Expense $1,224
  • Insurance Expense $3,465
  • Maintenance Expense $7,969
  • Manager Expense $12,312
  • Water Sewer Expense $6,931
  • New Taxes Expense $10,114
  • Operating Expense $50,146
  • Gross Income $162,000
  • Net Operating Income $103,754

Property Details

Home Type

Apartment

Est. Annual Taxes

$10,114

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Heating System: Heat Pump Electric
  • Type: Multi-Family
  • Has Basement: Slab
  • Cooling System: Heat Pump Electric
  • Views: Mountain
  • ExpensesManagementExp: 12312.00
  • ExpensesTaxExp: 10114.00
  • Major Area: 01 - City of Roanoke
  • NumberLeasedUnits: 26.00
  • NumberUnfurnished: 30.00
  • NumberVehicleSpaces: 30.00
  • Hoa2 Or Poa: No
  • RatifiedContractDt: 2015-12-01
  • TotalAnnualExpen: 50146.00
  • 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: 6931.00
  • Water Description: Public Water
  • Water Heater Type: Tank

Schools

  • Elementary School: Virginia Heights
  • Middle School: Woodrow Wilson
  • High School: Patrick Henry

Lot Info

  • Lot Dimensions: Irregular
  • Property Group Id: 19990816212116581394000000
  • Total Acreage: 0.82
  • Lot: 1 & 2
  • Present Use: Built-As
  • ZoningCode: RMF

Building Info

  • Year Built: 1971

Tax Info

  • Taxes (6 mo): 10114.00
  • FILLTAXID: 1430103, 1430104

Multi Family

  • Tenant Pays: Air Conditioning, Electricity, Heating
  • Units In Building: 30.00
  • Multi Family Type: Apartments

MLS Schools

  • Elementary School: Virginia Heights
  • HighSchool: Patrick Henry
  • Middle School: Woodrow Wilson

Range of Values:

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Average Value
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List Price
Sold Price
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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 Change Sq Ft Price
04/08/2016 04/08/16 Sold $1,087,500 -13.0% $65 / Sq Ft
12/01/2015 12/01/15 Pending -- -- --
11/06/2015 11/06/15 For Sale $1,250,000 -- $75 / Sq Ft
Source: Roanoke Valley Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • N

    Buyer's Agent in 2016

    Non Member Transaction Agent

    Non-Member Transaction Office

See All Agents

Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 820688

Roanoke Valley Association of REALTORS®

APN: 143-0104

Virginia Roanoke City County Roanoke 24015 Norwich

2353 Mountain View Terrace SW Unit & 2363, Roanoke, VA

This home is located at 2353 Mountain View Terrace SW Unit & 2363, Roanoke, VA 24015 since 06 November 2015. This property was built in 1971. 2353 Mountain View Terrace SW Unit & 2363 is a home located in Roanoke City with nearby schools including Virginia Heights Elementary School, Woodrow Wilson Middle School, and Patrick Henry High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Roanoke Valley Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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