PLEASE SUBMIT ALL OFFERS BEFORE 5PM ON AUGUST 11. Unique 20-unit apartment community located in the heart of Salem, Virginia - An historic community in the Roanoke Valley. This southern gothic - Tudor style apartment building was constructed in 1932 and sits at the entrance of the popular Langhorne neighborhood. The building includes eight two-bedroom apartments, eight one-bedroom apartments and four studio apartments. Apartment features include high ceilings, hardwood floors, French doors and built in cabinetry. The property has maintained a history of strong occupancy with two additional attic apartments constructed in the last decade. The exterior features attractive brick and stone construction with a slate roof. All units have separate central heat and AC. ve central heating and air conditioning. In addition, the property includes several on site garages. This offering presents investors the unique opportunity to acquire a below market-rate rental property, within an upper income neighborhood. Salem offers a very stable rental market with vacancy rates under 5%, low unemployment, and a highly sought after school system. The property is located within walking distance to Roanoke College and Downtown Salem's Historic District. Easy access to shopping, restaurants and farmer's market. Owner financing may be available for qualified buyer.
Sold for $1,450,000 on 10/05/23
$1,450,000
15 Lewis Ave, Salem, VA 24153
--beds
--baths
15,276sqft
Apartments
Built in 1932
-- sqft lot
$1,739,300 Zestimate®
$95/sqft
$1,579 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: December 27, 2024 at 04:25am
Listed by:
Jason Noel Fountain 540-354-6456,
WALDVOGEL COMMERCIAL PROPERTIES,
Steve Zegarski 540-309-6738
Bought with:
Jason Noel Fountain, 0225077081
WALDVOGEL COMMERCIAL PROPERTIES
Steve Zegarski, 0225245213
Source: RVAR,MLS#: 900382

Facts & features
Interior
Heating
- Has Heating (Unspecified Type)
Cooling
- Central Air
Features
- Basement: Partial
Interior area
- Total structure area: 15,276
- Total interior livable area: 15,276 sqft
Property
Parking
- Parking features: Private (1 - 9)
Lot
- Size: 1.41 Acres
- Dimensions: 187 x 134
Details
- Parcel number: 12214, 12325
- Zoning: RMF
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartments
Materials
- Brick, Stone
Condition
- Completed
- Year built: 1932
Utilities & green energy
- Electric: 0 Phase
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Salem
- Subdivision: Langhorne Place
Services availability
Sell for more on Zillow
Get a free Zillow Showcase℠ listing and you could sell for .
$1,739,300
2% more+ $34,786
With Zillow Showcase(estimated)
$1,774,086