+5 more
/ 10
$498,000
501 Mountain AVE
Roanoke, VA 24016
Pending
5 days on market
Property Type
Residential Income
Year Built
1921
Lot Size
0.12 acres
Garage
—
About This Property
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.
Property Details
Interior
Exterior & Lot
- Lot Size
- 0.12 acres
- Year Built
- 1921
Location
- Subdivision
- Old Southwest
- County
- City of Roanoke
- ZIP Code
- 24016
Financial
- Listing Terms
- Annual Taxes
- $4,596
Utilities
- Utilities
- Sewer
- Public Sewer
Schools
- Elementary
- Wasena
- Middle School
- James Madison
- High School
- Patrick Henry
Interior Features
Heating
Radiator Gas Heat
Cooling
Window Unit(s)
Location
Listing Information
- MLS #
- 927031
- Listing Agent
- JASON NOEL FOUNTAIN
- Listing Office
- INVESTORS REAL ESTATE PARTNERS LLC
- Listed Date
- May 23, 2026
Contact Florenchine Velasquez About This Property
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