602 Day Ave
Roanoke, VA 24016
Day Ave Historic Properties · Multifamily Property For Sale · 17 Units

17 unit brick, garden apartment building with 11 x 1BR/1BA units & 6 x 2BR/1BA units + on site coin laundry. Currently 1BR units rent between $550-$565 & 2BR units rent between $650-$675. The property was gutted & completely renovated within the last 10 years, including all major systems, including new central HVAC units, kitchens, & baths, as well as the addition of laundry facilities on site. The property is stable & performing well under professional management. Each unit has central HVAC & individual electric. Owner pays water/sewer, house electric only, & dumpster only. Turnkey property with additional upside available by continued cosmetic upgrades to unit interiors. Quad at 620 Day Ave SW also available for $250,000. Located in a the heart of Old SW on Day Avenue SW just blocks from Downtown Roanoke and in close proximity to the Cotton Mill Lofts, a luxury tax credit renovation loft apartment community. Historic Old Southwest, just a few minutes walk from Downtown Roanoke, is a living celebration of history and architecture. In addition to the residential population, businesses, churches, a café, and Highland Park Higher share historic Old Southwest. The charm of Old Southwest comes from its eclectic and often exemplary architectural styles, its interesting groupings of homes, together with its streetscapes and green spaces. In 2007, Old Southwest, Inc. placed 1st for "Best Neighborhood of the Year" at the VA. Statewide Neighborhood Conference. In 2008, Old Southwest, Inc. placed 2nd in the Nation for "Best Neighborhood of the Year" in the Social Revitalization Category at the NUSA (Neighborhoods USA) Conference. Downtown Roanoke is continuing to experience well-coordinated revitalization efforts with major expansion and investment by Carilion Medical Systems serving as just one of several economic drivers.