Listed by Investors Real Estate Partners
$469,000
433 Albemarle Ave SW
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,128
Units 6
Cap Rate 7.00%
NOI $33,422
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.00%
Pro-Forma NOI $37,523
Price per SqFt $71
Buildings 1
Acreage 0.151
Zoning RM-1
Investment Type Stabilized
Multifamily | 7.00% CAP | 6 Units
Marketing description
Stabilized 6-unit multifamily offered at $469,000 with a 7.00% cap rate on current income and projected 8.00% at market rents. Current NOI of $33,421 grows to $37,522 with modest rent adjustments on a tenant-occupied, income-producing asset in Roanoke's established Old Southwest neighborhood.
Investment highlights
6-unit multifamily in Roanoke's established Old Southwest neighborhood
Mix of 1BR and 2BR units including garage apartments with strong tenant retention
7.00% cap rate on current income with a clear path to 8.00% at market rents
Current NOI of $33,421 growing to $37,522 with modest rent adjustments
Stabilized and tenant-occupied — income producing from day one
Listing Contacts
Listed by Investors Real Estate Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$33,421.81
$2,785.15/mo
Valuation Metrics
0
DSCR
7.13%
Cap Rate
7.13%
ROI
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