Colonial 12-Unit Multifamily with Upside
Multifamily | 12 Units | $141,250/unit
Marketing description
Nestled in Roanoke's desirable Southwest corridor, this 12-unit apartment building offers investors an attractive blend of stability and upside potential.
The property has been well maintained and features all-brick Colonial architecture, manicured grounds and spacious two-bedroom apartments.
Current rents are below market, creating immediate potential for income growth. Residents enjoy a peaceful, park-like setting in the Oak Grove area just minutes from Lewis Gale Medical Center, Tanglewood Mall, and Electric Rd. (U.S. 419) commercial corridor, making it a consistently sought-after rental location.
Investment highlights
12-unit brick Colonial in Roanoke’s desirable Southwest corridor
Spacious 2BR apartments with strong tenant appeal
Current rents well below market – strong value-add potential
Projected CAP rate up to 7% at market rents
Peaceful, park-like setting near Lewis Gale Medical Center & Tanglewood Mall
Well-maintained property with consistent rental demand
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