Pending

$498,000

501 Mountain Ave SW, Roanoke, VA 24016

--beds

--baths

4,556sqft

$3,256/mo

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Multi Family

Built in 1921

-- sqft lot

$-- Zestimate^®

$109/sqft

$-- HOA

What's special

Six one-bedroom apartmentsGas boiler heating system

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.

89 days

18

1

Facts & features

Interior

Heating

Radiator Gas Heat

Cooling

Window Unit(s)

Features

Has basement: Yes

Interior area

Total structure area: 4,556
Total interior livable area: 4,556 sqft

Property

Lot

Size: 5,227 Square Feet

Details

Parcel number: 1120828

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Brick

Condition

Completed
Year built: 1921

Utilities & green energy

Electric: 6 Phase
Sewer: Public Sewer

Community & HOA

Community

Subdivision: Old Southwest

HOA

Has HOA: No

Location

Region: Roanoke

Financial & listing details

Price per square foot: $109/sqft
Tax assessed value: $365,200
Annual tax amount: $4,596
Date on market: 4/28/2026
Tenant pays: Electricity

Estimated market value

Not available

Estimated sales range

Not available

$2,126/mo

Price history

Date	Event	Price
5/4/2026	Pending sale	$498,000$109/sqft
Source: RVAR #927031 Report a problem
4/28/2026	Listed for sale	$498,000$109/sqft
Source: RVAR #927031 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$4,455 +9.6%	$365,200 +9.6%
2024	$4,065 +14.6%	$333,200 +14.6%
2023	$3,548 +18%	$290,800 +18%
2022	$3,006 +11.5%	$246,400 +11.5%
2021	$2,695 -4.9%	$220,900
2020	$2,833 +10.4%	$220,900 +5%
2019	$2,566 -7.2%	$210,300 +2.8%
2018	$2,764 +12.3%	$204,600 +4.7%
2017	$2,461 +0.9%	$195,500 +0.9%
2016	$2,439 +5.8%	$193,700
2015	$2,305	$193,700
2014	$2,305	$193,700
2013	--	$193,700
2012	--	$193,700
2011	--	$193,700
2010	--	$193,700
2009	--	$193,700 +2.8%
2008	--	$188,500
2007	--	$188,500 +19.7%
2005	--	$157,500 +15%
2004	--	$136,900 +15.5%
2003	--	$118,500 +3.9%
2002	--	$114,000
2001	--	$114,000

Find assessor info on the county website

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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