501 Mountain Ave Sw, Roanoke, VA 24016
- $473,000
- Sold Price
- $473,000
- List Price
- $498,000
- Closing Date
- Jun 18, 2026
- Days on Market
- 6
- Status
- CLOSED
- MLS#
- 927031
- Lot Size (Acres)
- 0.12
- Year Built
- 1921
Property Description
Six-unit multifamily in Roanoke's established Old Southwest neighborhood. Built in 1921, the ±4,556 SF building features six one-bedroom apartments across two floors, an unfinished basement, multiple units with private porches, and a gas boiler heating system. Currently 100% occupied with in-place rents 10-15% below market, offering immediate cash flow with clear upside as leases roll to market. Located on Mountain Avenue SW with close proximity to Carilion Clinic, downtown Roanoke, and the surrounding Old Southwest community.
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Additional Information
- Area
- 0130 - City of Roanoke - SW
- Subdivision
- Old Southwest
- Neighborhood
- 0130 - City of Roanoke - SW
- Taxes
- $4,596
- Heating
- Radiator(s)
- Cooling
- Window/Wall
- Water
- Public
- Sewer
- Public Sewer
- Elementary School
- Wasena
- Middle School
- James Madison
- High School
- Patrick Henry
- Remarks
- Six-unit multifamily in Roanoke's established Old Southwest neighborhood. Built in 1921, the ±4,556 SF building features six one-bedroom apartments across two floors, an unfinished basement, multiple units with private porches, and a gas boiler heating system. Currently 100% occupied with in-place rents 10-15% below market, offering immediate cash flow with clear upside as leases roll to market. Located on Mountain Avenue SW with close proximity to Carilion Clinic, downtown Roanoke, and the surrounding Old Southwest community.
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Listing courtesy of INVESTORS REAL ESTATE PARTNERS LLC. Selling Office: LICHTENSTEIN ROWAN, REALTORS®.