2223 Bailey AVE, Salem, VA 24153
$520,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
14,375
Status:
Closed
Current Price:
$520,000
List Date:
11/08/2024
Last Modified:
12/17/2024
Description
Great investment opportunity in City of Salem. This property is convenient located, 4 units each with 2 bedrooms, 1 bath, full basement (unfinished), small deck off kitchen, living room. All 4 units are currently rented with long term tenants, all on month to month leases. Each unit is renting well below market value. All could use cosmetic updates.
More Information MLS# 908879
Contract Information
Current Price: $520,000
Sold Price: $520,000
List Date: 2024-07-01
Status: Closed
General Property Description
Multi-Family Type: Quad
Construction Status: Completed
Year Built: 1973
Present Use: Built-As
Number of Units: 4
# Unfurnished: 4
# Leased Units: 4
Gross Bldg SQFT: 5797
Total Acreage: 0.33
Basement Y/N: Yes
Parking Description: On Street
Operating Expense: 11130
Net Operating Income: 16890
Gross Income: 28020
Water Class: N/A
Location Legal Taxes
Area: 0300 - City of Salem
Street Number: 2223
Street Name: Bailey
Street Suffix: AVE
State/Province: VA
Zip Code: 24153
Subdivision: Shamrock
Municipality: City of Salem
Elementary School: South Salem
Middle School: Andrew Lewis
High School: Salem High
Status Change Info
Ratified Contract Dt: 2024-11-08
Sold Date: 2024-12-17
Sold Price: $520,000
Property Features
Limited Service: Not Limited Service
Construction: Brick
Basement: Full; Walk-Out Access
Heating: Heat Pump Electric
Cooling: Central Air
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Water Heater Energy: Electric
Lease Type: Month To Month
Owner Expenses: Management Fee; Water
Views: Mountain(s)
Tenant Expenses: Electricity
Listing Office: RE/MAX REAL ESTATE ONE
Last Updated: December - 17 - 2024
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