Workforce Housing Apartment
4847 Rutgers Street NW, Roanoke, VA 24012
For Sale
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102-unit workforce housing community with recent HVAC and window upgrades plus renovated apartments and new amenities.
Property Size83,272 SF
Days on Market149
Property Features for 4847 Rutgers Street NW
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Occupancy
Investment Type
Net Operating Income
Additional Details
Business Included
Multifamily Units
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
Cushman & Wakefield Thalhimer - Roanoke, Virginia
Listed By:
Clay Taylor · License VA #0225202311
(804) 819-9948
Source:
Crexi
Added: Jun 19
Changed: Nov 5
Last Checked: Nov 12 at 7:27AM
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 Cushman & Wakefield Thalhimer - Roanoke, Virginia
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Investment Insights
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The Flats at Rutgers is a 102-unit workforce housing apartment community at 4847 Rutgers Street NW. Since 2021, ownership has invested more than $1.7 million in capital improvements, including approximately 57 renovated units, extensive HVAC replacement, community-wide vinyl window upgrades, exterior improvements, and the addition of new community amenities. The result is a property that has been actively maintained and refreshed to support ongoing resident occupancy.
The community is located within Roanoke’s primary retail, employment, and transportation corridor, offering access to major employers and daily-needs retail. The property is also positioned for connectivity to Roanoke-Blacksburg Regional Airport and provides direct connectivity to both I-581 and I-81.
For buyers and investors, The Flats at Rutgers offers a workforce housing product type within an established apartment submarket, along with a documented history of capital improvements and “stabilized” positioning as presented by the current ownership. The property is described as generating average rents exceeding $1,100 per occupied unit and benefiting from stable occupancy and strong rent collections, supported by meaningful ancillary income.
The community is located within Roanoke’s primary retail, employment, and transportation corridor, offering access to major employers and daily-needs retail. The property is also positioned for connectivity to Roanoke-Blacksburg Regional Airport and provides direct connectivity to both I-581 and I-81.
For buyers and investors, The Flats at Rutgers offers a workforce housing product type within an established apartment submarket, along with a documented history of capital improvements and “stabilized” positioning as presented by the current ownership. The property is described as generating average rents exceeding $1,100 per occupied unit and benefiting from stable occupancy and strong rent collections, supported by meaningful ancillary income.
Key Highlights
- 102‑unit workforce housing community built in 1972
- Ownership invested $1.7M+ in capital improvements since 2021, including extensive HVAC replacement and community‑wide vinyl window upgrades
- Approximately 57 units renovated, along with exterior improvements and new community amenities
Property Analytics
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Lease Details
102
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
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Business Placement
Demographics for 24012, VA
30,037
Population
13,455
Households
2.2
Avg Household Size
40
Median Age
24%
College-Educated
87%
High-School Grad
20.3 sq mi
ZIP Area
1,480
Density / Sq Mi
$51,002
Median Household Income
$39,079
Median Earnings
$1,002
Median Rent
$177,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Apartment building - 102-unit workforce housing community with recent HVAC and window upgrades plus renovated apartments and new amenities.
Where is this apartment building located?
The property is located at 4847 Rutgers Street NW Roanoke, VA.
What are key features of this property?
This property features: 102‑unit workforce housing community built in 1972; Ownership invested $1.7M+ in capital improvements since 2021, including extensive HVAC replacement and community‑wide vinyl window upgrades; Approximately 57 units renovated, along with exterior improvements and new community amenities
