NOT LISTED FOR SALE

701 3rd St SW Roanoke, VA 24016

Old Southwest Neighborhood
-- Bed
12 Baths
9,522 Sq Ft
8,712 Sq Ft Lot

Last Sold September 25, 2012

Last sale price $477,500 $50 Per Sq Ft

95 Days on Market

Highlights

  • City View
  • No HOA
  • Baseboard Heating

About This Home

As of September 2012

Investment opportunity in downtown Roanoke. 11 unit building - 6 2BR and 5 1BR units with office and laundry room. Brick construction, replacement windows, fully leased as of 4/6/12. Located in Roanoke's CBD across from the Poff Federal Building. Easy access to I 581, Roanoke Memorial Hospital, Carillion Research Institute, Jefferson College of Health Sciences, Shopping and Farmers market.

Last Agent to Sell the Property

Jason Fountain

VRC PROPERTIES LLC License #0225077081 Listed on: 04/06/2012

Last Buyer's Agent

Jason Fountain

VRC PROPERTIES LLC License #0225077081 Listed on: 04/06/2012

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $5,791

Year Built

  • Built in 1966

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Dimensions are 126x69

Parking

  • 10 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Slab Foundation

Interior Spaces

  • 9,522 Sq Ft Home
  • City Views

Schools

  • Highland Park Elementary School
  • James Madison Middle School
  • William Fleming High School

Utilities

  • Window Unit Cooling System
  • Baseboard Heating

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heating
  • Legal Lot and Block 8 & 9 / 8

Community Details

Overview

  • No Home Owners Association
  • 11 Units

Building Details

  • 11 Leased Units
  • Electric Expense $800
  • Insurance Expense $2,200
  • Maintenance Expense $3,025
  • Other Expense $600
  • Water Sewer Expense $3,705
  • New Taxes Expense $5,791
  • Operating Expense $17,646
  • Gross Income $62,880
  • Net Operating Income $45,234

Property Details

Home Type

Apartment

Est. Annual Taxes

$5,791

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Heating System: Baseboard Electric
  • Type: Multi-Family
  • Has Basement: Slab
  • Cooling System: Window A/C
  • Views: City
  • ExpensesOtherExp: 600.00
  • ExpensesTaxExp: 5791.00
  • Major Area: 01 - City of Roanoke
  • MiscellaneousInfoPaidUtilities: Water, Common Elec.
  • MiscellaneousInfoPublicTransport: Yes
  • NumberLeasedUnits: 11.00
  • NumberUnfurnished: 11.00
  • NumberVehicleSpaces: 10.00
  • Hoa2 Or Poa: No
  • TotalAnnualExpen: 17646.00
  • Water Class: N/A
  • 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: 3705.00
  • Water Description: Public Water

Lot Info

  • Lot Dimensions: 126X69
  • Property Group Id: 19990816212116581394000000
  • Total Acreage: 0.20
  • Lot: 8 & 9
  • ZoningCode: D

Building Info

  • Year Built: 1966

Tax Info

  • Taxes (6 mo): 5791.00

Multi Family

  • Lease Type: One Year
  • Tenant Pays: Air Conditioning, Electricity, Heating
  • Units In Building: 11.00
  • Multi Family Type: Apartments

MLS Schools

  • Elementary School: Highland Park
  • HighSchool: William Fleming
  • Middle School: James Madison
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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
09/25/2012 09/25/12 Sold $477,500 -8.2% $50 / Sq Ft
07/10/2012 07/10/12 Pending -- -- --
04/06/2012 04/06/12 For Sale $520,000 -- $55 / Sq Ft
Source: Roanoke Valley Association of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $14,954 $1,114,400 $88,200 $1,026,200
2024 $14,954 $1,091,700 $85,600 $1,006,100
2023 $14,637 $992,400 $77,800 $914,600
2022 $12,701 $948,800 $77,800 $871,000
2021 $11,829 $884,700 $70,700 $814,000
2020 $11,829 $884,700 $70,700 $814,000
2019 $11,300 $844,600 $70,700 $773,900
2018 $10,982 $820,500 $70,700 $749,800
2017 $10,422 $778,100 $70,700 $707,400
2016 $9,064 $675,200 $70,700 $604,500
2015 $5,986 $675,200 $70,700 $604,500
2014 $5,986 $641,000 $70,700 $570,300
Source: Public Records

Agents Affiliated with this Home

  • Jason Fountain

    Seller's Agent in 2012

    Jason Fountain

    VRC PROPERTIES LLC

    (540) 354-6456

    4 in this area

    57 Total Sales

    Jason Fountain
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Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 780594

Roanoke Valley Association of REALTORS®

APN: 102-0307

Virginia Roanoke City County Roanoke 24011 Old Southwest

701 3rd St SW, Roanoke, VA

Not Listed for Sale

MultiFamily

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