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Colonial 12-Unit Multifamily with Upside 4622 Grandin Rd 12 Unit Apartment Building $1,795,000 ($149,583/Unit) 5.20% Cap Rate Roanoke, VA 24018
Executive Summary
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.
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.
Property Facts
| Price | $1,795,000 | Building Class | C |
| Price Per Unit | $149,583 | Lot Size | 1.03 AC |
| Sale Type | Investment | Building Size | 22,329 SF |
| Cap Rate | 5.20% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-2 | ||
| Price | $1,795,000 |
| Price Per Unit | $149,583 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 22,329 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1977 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | RM-2 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Security System
- Refrigerator
- Oven
- Smoke Free
Site Amenities
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 12 | - | - |
1 1
Property Taxes
| Parcel Number | 509-0123 | Improvements Assessment | $1,121,800 |
| Land Assessment | $84,100 | Total Assessment | $1,205,900 |
Property Taxes
Parcel Number
509-0123
Land Assessment
$84,100
Improvements Assessment
$1,121,800
Total Assessment
$1,205,900
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Colonial 12-Unit Multifamily with Upside | 4622 Grandin Rd
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