Well-located multifamily investment opportunity in Roanoke's desirable Raleigh Court/Grandin Village area. This classic brick, 1930s property offers strong neighborhood appeal, convenient access to restaurants, shopping, parks, schools, public transportation, and major employment centers. Positioned along Grandin Road SW, the asset has proven durable rental demand. Ideal for investors seeking a long-term hold or value-add opportunity through continued professional management and potential unit improvements. Additional potential income from garage leases (8 units) and laundry income. See rent roll for details. Property is made up of 8 2BR's and 4 1BR's. On site parking in back.
Multi-familyProperty Type
1930Year Built
0.58 acresLot Size
87176 spacesParking
Listed by JASON FOUNTAIN• INVESTORS REAL ESTATE PARTNERS LLC
Listed by STEVEN ZEGARSKI• INVESTORS REAL ESTATE PARTNERS LLC
Raleigh Court, located between Grandin Road SW and Memorial Avenue SW, is a historic and walkable Roanoke neighborhood with Tudor Revival streetscapes and pocket parks. The neighborhood’s character concentrates around the Grandin Village stretch of Grandin Road SW, where marquee lights, sidewalk patios, and small storefronts set a steady, social rhythm. The Grandin Theatre anchors local culture with indie screenings and community events. Nearby, Local Roots brings a market-hall feel to a restored building, and RND Coffee Lounge keeps the corner-cafe energy consistent. Brick colonials and bungalow blocks frame tree-lined sidewalks leading toward Wasena Park and the Roanoke River Greenway. The pace feels residential, with daily errands and evening outings centered on a compact main street.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Has heating
Has cooling
Heating & cooling
Heat pump (electric)
Exterior features
Approximately 0.58 acre lot
Address: 1712 Grandin Rd SW, Roanoke, VA 24015
Home design
Multi-family apartment building
Built in 1930
Parking
Covered parking (number provided in listing data)
Financial info
12 total units
Gross income: $131,368
Gross scheduled income: $131,368
Operating expenses: $44,191.52
Net operating income: $87,176.48
Owner pays: Water, Gas, Management
Other
Parcel number 144-0702
Annual tax amount noted in listing data
Electricity and solar
View estimated energy costs and solar savings for this home
The purpose of the RMF District is to provide for unified development of ten or more dwellings
Permitted uses
Include but are not limited to:
Garden center
Housing
Housing-Group
Infrastructure
Communications tower
Jul 12, 2018 • Final
Commercial plumbing
Gas
Plumbing
Jun 7, 2018 • Final
Right of way excavation
Replace the water line at an apartment complex using a moling method.
Plumbing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
4/10 Flood Factor
Estimated 19-29% chance of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
5/10 Heat Factor
7 days above 100° expected this year, 19 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Roanoke, VA • 24015
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31
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 1712 Grandin Rd SW
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