Sold
501 Mountain Ave SW
Roanoke, VA 24016 · Old Southwest
Sold for $473,000
on Jun 18, 2026
- 0.12acres
- 1921built
Listed by Investors Real Estate Partners LLC
About this home.
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.
Facts and features.
The home
- Type
- Condo (Apartment)
Inside
- Basement
- Full
Utilities
- Heating
- Radiator Gas Heat
- Cooling
- Window Unit(s)
- Water source
- Public
Community
- Subdivision
- Old Southwest
- HOA dues
- None
- County
- City Of Roanoke County
The listing
- Annual tax
- $4,596 (from the listing)
- Source
- Roanoke Valley Association of REALTORS® MLS #927031
Price and status history.
5
days on market
95%
of the original asking price
| Date | Event | Price |
|---|---|---|
| Jun 18, 2026 | Sold | $473,000 |
| Apr 28, 2026 | Listed for sale | $498,000 |
Location.
501 Mountain Ave SW, Roanoke, VA 24016
Listing information
Listing courtesy of Investors Real Estate Partners LLC.
Displayed by GRAVITY Real Estate Group.
Information last updated .
Listing information is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed and should be independently verified. Listings are courtesy of the listing brokerage shown with each property.
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