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    Brick Multifamily Building with 2-Bed Units Title is generated by Realmo AI

    131 5TH Street, Pulaski, VA 24301

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    For Sale
    $625,000

    MULTI_FAMILY - Pulaski, VA

    Type:Apartment
    Property size:
    7,000 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $89/SF
    Added:
    Dec 22, 2023
    Days on Market:
    894
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 131 5TH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    Size
    7,000 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    NORTHWEST PT LOT 5 BLOCK 4 5TH ST DEED BK - 1999, DEED PG - 6830
    Tax Annual Amount
    1033

    Utilities

    Heating system
    Other (Heating), Natural Gas, Hot Water(Heating)

    Building Details

    Floors in Building
    2
    Number of units
    6
    Flooring type
    Hardwood, Vct
    Architectural style
    Other

    We can help!

    Listing Contact
    Bart Castleberry

    Listing agent Bart Castleberry License #225057533

    Listing office Bondurant Realty Corp. 1300 E Main Street, Radford, VA

    Listing date Dec 22, 2023

    MLS# 419844 Listing URL

    Copyright © 2026 New River Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 6‑unit property with 2‑bedroom units
    • Many renovations completed, including a newer roof and sewer line
    • Low‑maintenance brick exterior
    • Replacement windows, flooring, and kitchens in some units
    • Flooring includes hardwood and VCT
    • Heating includes natural gas and hot water (heating)

    Overview

    This for-sale multifamily property includes six, 2-bedroom apartment units within a low-maintenance brick exterior. Updates have been completed across the building, including a newer roof and sewer line. Additional unit-level improvements noted include replacement windows, flooring, and kitchen updates in some of the apartments. The property offers a straightforward residential income setup with multiple same-bedroom units.

    The building is located in Pulaski and is described as being within walking distance to downtown for shopping, dining, and recreation. Its compact site supports an owner-focused, manageable multifamily footprint.

    For buyers or operators seeking a small residential income property, this asset combines multiple rentable units with recent exterior and system improvements. The combination of newer roofing and sewer infrastructure, along with ongoing interior renovations in select units, can help reduce immediate maintenance concerns. As with any multifamily acquisition, potential tenants and buyers should review unit condition details and renovation coverage unit-by-unit, particularly where windows, flooring, and kitchen upgrades have been completed only in some apartments.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pulaski
    County
    Pulaski
    State
    Virginia
    Longitude
    -80.783073
    Latitude
    37.05044

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    FAQs

    What type of property is this?
    Apartment building - Six two-bedroom units in a low-maintenance brick building with updates including a newer roof and sewer line.
    Where is this apartment building located?
    The property is located at 131 5TH Street Pulaski, VA.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: 6‑unit property with 2‑bedroom units; Many renovations completed, including a newer roof and sewer line; Low‑maintenance brick exterior
    (540) 449-9675
    We can help!
    Listing Contact
    Bart Castleberry
    Real Estate License ID: 225057533
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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