Workforce Housing Apartment
For Sale
Contact for pricing
4847 Rutgers Street NW, Roanoke, VA 24012
102-unit workforce housing community with recent HVAC and window upgrades plus renovated apartments and new amenities.
Property Size83,272 SF
Days on Market55
Property Features for 4847 Rutgers Street NW
General Information
Standard status
Active
Size
83,272 SF
Class
B
Total Parking Spaces
150
Property subtype
Multifamily
Zoning
RMF (Residential Multifamily)
Occupancy
93%
Investment Type
Stabilized
Net Operating Income
$788,844
Additional Details
Business Included
Yes
Multifamily Units
102
Building Details
Year Built
1972
Year Renovated
2021
Buildings
7
Stories
3
Units
102
Listing Agency:
Cushman & Wakefield Thalhimer - Roanoke, Virginia
(804) 819-9948
Listed By:
Clay Taylor · License #VA 0225202311
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 9 at 11:12AM
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
Investment Insights
Based on property information with market context.
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
Property Profile
Current Use
Lease Details
102
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
