ADD TO YOUR RENTAL PORTFOLIO OR FLIP FOR MAX PROFIT!

ASKING PRICE: $490,000 OBO

*NR-EMD: $5,500

**Cash Or Hard Money To Close!!!**

2 Buildings, 10 units, under $47,000 per unit! You'll be pressed to find a better deal!

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*EXIT STRATEGIES:

• Fix and Rent, Rehab and hold units for long-term wealth!

*1506 Gilmer Ave NW, Roanoke, VA 24017

Details*

6-Plex in stable, urban area of Roanoke with long term tenants. Rents are currently under market and tenants currently have term leases in place. Request lease agreements.! Six Plex is serviced by one water meter, seller charges back to tenants $30 each per month for water use.

Opportunity Zone: NO

• Approx. FnSqft: 3,840
• Approx Year Built: 1973

The Good

• Roof was replaced 8 yrs ago 
• Newer vinyl flooring laid three years ago.
• HVAC's - 10 y/o units.
• 4 HVAC units service the 4, 1bd/1ba units on the upper level along with baseboard heating.
• The 2 lower units ( one 3bd/1ba unit and one 2bd/1ba) are serviced by window AC and baseboard heat.
• Some windows recently replaced with vinyl double pane.
• Plenty of parking
• City water and sewer
• Long term tenants
• Electricity separately, metered

Needs Work

• Baseboard heating in all units, window, AC in the lower units
• A few of the windows are aluminum single pane.
• Water not separately metered
• No W/D hookups

Income

Total Monthly Income: $2,655, Tenants currently have term leases in place. Request lease agreements.

• Upper Unit A: 1bd / 1ba: (Section 8) $450
• Upper Unit B: 1bd / 1ba: $400
• Upper Unit C: 1bd / 1ba: $390
• Upper Unit D: 1bd / 1ba: $405
• Lower Unit 1: 3bd / 1 ba: $590
• Lower Unit 2: 2bd / 1 ba: was $450, Vacant (tennent recently deceased)

Expenses

• Ins - TBD
• Taxes - $196 / mo,
• Utilities - tenants pay electricity, seller pays water and bills back $30 to tenants each month.
• Lawn - Seller Maintained

Utilities

• City water and sewer
• Tenants cover electricity, (separately metered)
• Seller pays water; bills back tenants $30 per month

*1523 Gilmer Ave NW, Roanoke, VA 24017*

Details*

4-Plex in stable, urban area of Roanoke with long term tenants. Rents are currently under market and tenants are on month-to-month leases!

Opportunity Zone: NO

• Approx. FnSqft: 2,394
• Approx Year Built: 1970

The Good

• The roof was replaced 8 yrs ago 
• Some newer vinyl windows
• Brick exterior
• City water and sewer
• Electricity separately, metered
• Long term tenants

Needs Work

• Water not separately metered
• BB heat and Window AC
• None of the units have been updated cosmetically in 10 yrs
• All tenants are month to month leases

Income

Total Monthly Income: $1,635, Tenants currently have term leases in place. Request lease agreements..

• Unit-A: 1bd / 1ba: $405
• Unit-B: 1bd / 1ba: $405
• Unit-C: 1bd / 1ba: $430
• Unit-D: 1bd / 1ba: $395

Expenses

• Ins - TBD
• Taxes - $138 / mo
• Utilities - tenants pay electricity seller pays water and bills back $30 to tenants each month.
• Lawn - Seller Maintained

Utilities

• City water and sewer
• Tenants cover electricity, (separately metered)
• Seller pays water, bills back tenants $30 per month

**Docs Available Upon Request**

• Leases
• Rent Roles
• Taxes
• Insurance
• Tennent Deposit Info

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