$498,000

501 Mountain AVE, Roanoke, VA 24016

4,556 sqft

Multi-Family Home
Built in 1921
5,227sqft lot
—— car garage
$109/sqft
Listed 4 days ago

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.

Listing Status:: Active
Data Last Updated:: May 2, 2026 at 8:21PM
Listing Office:: INVESTORS REAL ESTATE PARTNERS LLC : (540) 444-4737
MLS ID:: 927031

Parking: Parking spaces: 6

County: City of Roanoke

Zoning: 112-0828

This listing courtesy of INVESTORS REAL ESTATE PARTNERS LLC

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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