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

Sale Details

Date 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, CCIM

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

Last Buyer's Agent

Jason Fountain, CCIM

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

8,712 Sq Ft Lot

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $13,596 $1,114,400 $88,200 $1,026,200
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, CCIM

    Seller's Agent in 2012

    Jason Fountain, CCIM

    VRC PROPERTIES LLC

    (540) 354-6456

    4 in this area

    48 Total Sales

    Jason Fountain, CCIM
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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

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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