4-Unit Multifamily
For Sale
$649,000
3520 Mount Zion Road, Blacksburg, VA 24060
Two residences are tenant occupied on month-to-month leases, and two were recently vacated.
Property Size4,604 SF
Price / SF$140.96
Days on Market42
Property Features for 3520 Mount Zion Road
General Information
Standard status
Active
Size
4,604 SF
Property subtype
Multi Family Home
Units
Unit Mix
3 x 2BR, 1 x 3BR
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Amenities
covered porch space
Building Details
Building Size
4,604 SF
Buildings
2
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
Coldwell Banker Townside Bburg
(540) 552-6500
Listed By:
Rob Jones
(540) 320-6688
Source:
Giesencaldwell
Added: Sep 15
Changed: Oct 25
Last Checked: Oct 23 at 4:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Townside Bburg
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Investment Insights
Based on property information with market context.
Two duplex buildings contain four rental residences with a combined nine bedrooms. The unit mix consists of three two-bedroom units and one three-bedroom unit. Covered porch areas and convenient parking are part of the property. There is no HOA.
Two units have month-to-month tenants; the other two were recently vacated. One lot borders a natural creek. The property is approximately 15 minutes from Virginia Tech, with access to Blacksburg and the campus.
Two units have month-to-month tenants; the other two were recently vacated. One lot borders a natural creek. The property is approximately 15 minutes from Virginia Tech, with access to Blacksburg and the campus.
Key Highlights
- Two duplex buildings with 4 units and 9 bedrooms
- Unit mix: three 2‑bedroom units and one 3‑bedroom unit
- Two units occupied under month‑to‑month leases; two recently vacated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,901
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,158,020
$1.2M
Cap Rate 7%
$827,157
$827.2K
Cap Rate 9%
$643,344
$643.3K
Market Conditions
NOI Build-Up for 4,604 SF
Gross rent
$113.8K $24.72/SF
− Vacancy
−$8.5K −$1.85/SF
EGI
$105.3K $22.87/SF
− OpEx
−$47.4K −$10.29/SF
NOI
$57.9K $12.58/SF
Area
Montgomery County, VA
Vacancy
7.50%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,158,020
Cap Rate 7%
$827,157
Cap Rate 9%
$643,344
Alternative Uses
Best Use
Apartment 5plus
$827.2K
$723.8K – $965.0K
NOI $57,901 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.09M
$953.4K – $1.27M
NOI $76,268 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 24060, VA
46,755
Population
22,797
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
98%
High-School Grad
130.8 sq mi
ZIP Area
357
Density / Sq Mi
$63,496
Median Household Income
$31,827
Median Earnings
$1,266
Median Rent
$412,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences are tenant occupied on month-to-month leases, and two were recently vacated.
Where is this multifamily property located?
The property is located at 3520 Mount Zion Road Blacksburg, VA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two duplex buildings with 4 units and 9 bedrooms; Unit mix: three 2‑bedroom units and one 3‑bedroom unit; Two units occupied under month‑to‑month leases; two recently vacated
