Stabilized 6-unit multifamily with a 7.00% cap rate on current income and projected 8.00% at market rents.
Current NOI of $33,421 grows to $37,522 with modest rent adjustments on a tenant-occupied, income-producing asset in Roanoke's established Old Southwest neighborhood.
Mix of 1BR and 2BR units including garage apartments with strong tenant retention. Stabilized and tenant-occupied. Income producing from day one.
For sale
$469,000
433 Albemarle Ave SW, Roanoke, VA 24016
--beds
0baths
--sqft
Multi Family
Built in 1913
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Garage apartments
- 53 days
- 251
- 14
Zillow last checked:
Listing updated:
Listed by:
JASON NOEL FOUNTAIN 540-444-4737,
INVESTORS REAL ESTATE PARTNERS LLC 540-444-4737,
STEVEN JUDE ZEGARSKI 540-309-6738,
INVESTORS REAL ESTATE PARTNERS LLC
Source: RVAR,MLS#: 929212
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Forced Air Electric
Cooling
- Central Air
Features
- Basement: Dirt Floor,Full
Property
Parking
- Total spaces: 37522.6
- Parking features: Carport
- Carport spaces: 20785.19
- Covered spaces: 37522.6
Lot
- Size: 6,534 Square Feet
Details
- Parcel number: 1022514
- Zoning: RM-1
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Siding
Condition
- Year built: 1913
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Old Southwest
HOA
- Has HOA: No
Location
- Region: Roanoke
Financial & listing details
- Tax assessed value: $405,500
- Annual tax amount: $4,800
- Date on market: 7/7/2026
- Cumulative days on market: 57 days
Estimated market value
Not available
Estimated sales range
Not available
$2,600/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/7/2026 | Listed for sale | $469,000-1.3% |
Source:  RVAR #929212 Report a problem | ||
| 12/2/2025 | Listing removed | $475,000 |
Source: RVAR #918072 Report a problem | ||
| 11/21/2025 | Price change | $475,000-4% |
Source: RVAR #918072 Report a problem | ||
| 6/9/2025 | Listed for sale | $495,000-8.2% |
Source: RVAR #918072 Report a problem | ||
| 4/17/2024 | Listing removed | -- |
Source: RVAR #901188 Report a problem | ||
| 3/22/2024 | Listed for sale | $539,000 |
Source: RVAR #901188 Report a problem | ||
| 2/13/2024 | Pending sale | $539,000 |
Source: RVAR #901188 Report a problem | ||
| 10/6/2023 | Price change | $539,000-6.3% |
Source: RVAR #901188 Report a problem | ||
| 8/28/2023 | Listed for sale | $575,000+15% |
Source: RVAR #901188 Report a problem | ||
| 11/23/2021 | Sold | $500,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,947 +8.1% | $405,500 +8.1% |
| 2024 | $4,576 +22.9% | $375,100 +22.9% |
| 2023 | $3,725 +4.9% | $305,300 +4.9% |
| 2022 | $3,550 +10.6% | $291,000 +10.6% |
| 2021 | $3,210 +5% | $263,100 +4.4% |
| 2020 | $3,058 +10% | $251,900 +10.6% |
| 2019 | $2,779 -0.5% | $227,800 +10.5% |
| 2018 | $2,793 +14.4% | $206,100 +6.8% |
| 2017 | $2,441 -2.2% | $193,000 -2.3% |
| 2016 | $2,497 +96.8% | $197,600 -5.1% |
| 2015 | $1,269 | $208,200 -5.4% |
| 2014 | $1,269 | $220,200 -3% |
| 2013 | -- | $227,000 |
| 2012 | -- | $227,000 |
| 2011 | -- | $227,000 |
| 2010 | -- | $227,000 |
| 2009 | -- | $227,000 |
| 2008 | -- | $227,000 +0.4% |
| 2007 | -- | $226,000 +12.9% |
| 2005 | -- | $200,200 +8.5% |
| 2004 | -- | $184,500 +190.6% |
| 2003 | -- | $63,500 -34.7% |
| 2002 | -- | $97,200 +15% |
| 2001 | -- | $84,500 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Old Southwest
Nearby schools
Schools provided by the listing agent
- Elementary: Highland Park
- Middle: James Madison
- High: Patrick Henry
Source: RVAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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