Old Southwest Multifamily Homes & Duplexes for Sale

/5
$495,000
- 4,516 Sq Ft
433 Albemarle Ave SW, Roanoke, VA 24016

Looking for an investment opportunity in the ever-popular Old SW community of Roanoke? This 5-unit garden home with carriage house is for you. With great demographics and nearby amenities, this property will always be desirable. Across from a school, walking distance to cafe's and the bus line, and a stones throw from Highland Park, tenants find this location quaint and peaceful. Take advantage

Daniel Wickham WALKER REAL ESTATE SOLUTIONS

433 Albemarle Ave SW, Roanoke, VA 24016
/42
$285,000
- 3 Beds
- 1.5 Baths
- 1,500 Sq Ft
825 Day Ave SW, Roanoke, VA 24016

Looking for a move-in ready home close to everything downtown Roanoke has to offer? You'll love this beautiful home. Built in 2013, this is a rare newer home in the heart of the historic Old Southwest neighborhood. You get the charm of a walkable, established area with the peace of mind that comes with a more modern build. The home features 3 spacious bedrooms, 1.5 baths, and an open main floor

Landon Johnson REAL BROKER LLC - MCLEAN

825 Day Ave SW, Roanoke, VA 24016
/48
$369,000
- 2,700 Sq Ft
602 Allison Ave SW, Roanoke, VA 24016

Well-kept Triplex situated on corner lot in the heart of Old Southwest! One block from Highland Park & close to Greenway, DT & Carilion Med Center. Unit 1 ($1250; mo2mo) 1 BR/1 BA, 1200 SF on entire 1st floor w/ high ceilings & hardwood floors. Kitchen equipped with LVP (2022), dishwasher & pantry. Unit 2 ($1000; mo2mo) 2 BR/2 Full BA includes a primary suite w/ new toilet (Dec 2024). Unit 3

KELLI L EAGLE PARK PLACE REALTY INC

602 Allison Ave SW, Roanoke, VA 24016
/9
$289,887
- 2,516 Sq Ft
324 Mountain Ave SW, Roanoke, VA 24016

Unit A Occupied Rent $820 MTM, Unit B Rent $436 Lease End 11/30/2025, Unit D rent $800 Lease ends 1/12/26, Unit C is vacant.

Courtnee Bishop MKB, REALTORS(r)

324 Mountain Ave SW, Roanoke, VA 24016
/2
$372,400
- 5,756 Sq Ft
506 Highland Ave SW, Roanoke, VA 24016

Good investment property, 2 units are occupied and 2 units are vacant, onsite coin laundry.

Courtnee Bishop MKB, REALTORS(r)

506 Highland Ave SW, Roanoke, VA 24016
/2
$224,950
- 3,062 Sq Ft
518 Elm Ave SW, Roanoke, VA 24016

Great Investment opportunity with tons of potential. Duplex located in Se Roanoke featuring 2 units, each with 2 bedrooms and 1 bath. Convenient located close to downtown Roanoke. Recent updates include new metal roof. Both units are currently, upstairs unit rented for $800 and downstairs unit rented for $900 and could rent for more. If you're looking to start investing or wanting to add an

Andre Palmer PALMER REALTY GROUP LLC

518 Elm Ave SW, Roanoke, VA 24016
/2
$529,000
- 3,869 Sq Ft
917 1st St SW, Roanoke, VA 24016

Investment property, conveniently located close to community hospital and downtown.

Courtnee Bishop MKB, REALTORS(r)

917 1st St SW, Roanoke, VA 24016

Virginia Roanoke Old Southwest

Why Live in Old Southwest

Old Southwest in Roanoke is the largest residential historic district in Virginia, featuring a mix of vintage homes and local dining options with scenic views of the Blue Ridge Mountains. Located just a mile from downtown Roanoke, the neighborhood includes the historic Alexander Gish House, office buildings, and public green spaces. The Old Southwest Neighborhood Association actively organizes community events, such as block parties and holiday light contests, and maintains historic properties. Housing primarily consists of single-family homes, including American Foursquares and Victorian shingle homes from the early 1900s, with some condos and multi-unit apartment buildings also available. The neighborhood is known for its close-knit community and historic charm, with homes often featuring rounded shrubbery and concrete walkways. Highland Park serves as the central hub for outdoor activities, offering a disc golf course, soccer field, basketball courts, tennis courts, playground, skate park, and an off-leash dog park. For dining, residents frequent Albemarle Bakery and Coffee House, Evie’s Bistro and Bakery, and Lews Restaurant. While shopping options within the neighborhood are limited, Sunnyside Market provides grab-and-go conveniences, and larger retailers like Kroger, Walmart, and Target are a short drive away. Children in Old Southwest attend schools with varied ratings, including Highland Park Elementary, James Madison Middle, and Patrick Henry High. Transportation is convenient with nearby bus stops, a passenger train station a mile northeast, and access to Interstate 581 and Interstate 81.

Learn more about living in Old Southwest

Home Trends in Old Southwest, VA

On average, homes in Old Southwest, Roanoke sell after 49 days on the market compared to the national average of 51 days. The median sale price for homes in Old Southwest, Roanoke over the last 12 months is $385,000, up 25% from the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price

$385,000

Median Single Family Sale Price

$371,250

Median Townhouse Sale Price

$133,500

Average Price Per Sq Ft

$155

Number of Homes for Sale

Last 12 months Home Sales

Months of Supply

2.90

Median List Price

$387,450

Median Change From 1st List Price

Median Home Sale Price YoY Change

25%

How to Buy a Home How to Finance a Home How to Sell a Home

In Old Southwest, there are currently 7 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes ranging from $224,950 to $529,000, there's something for every budget. As of July, 2025 the median home price in Old Southwest, Roanoke is $387,450, while the average sale price is $352,926, providing insight into local market trends. On average, multi-family homes spend 49 days on the market before being sold. Multi-family homes encompass various property types, including duplexes, triplexes, fourplexes, and apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're interested in a duplex for a starter investment or an apartment complex for a larger-scale venture, there are investment properties available to suit your needs. Explore the range of multi-family homes for sale in Old Southwest, Roanoke.

Old Southwest Types of Homes for Sale

Old Southwest Homes for Sale

More About Living in Old Southwest

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