2213 Bailey Ave, Salem, VA 24153
This exceptional investment opportunity presents a well-maintained, four-unit apartment building located at 2213 Bailey Ave, Salem, VA 24153. The property, built in 1973, boasts a total of 3,848 square feet situated on a 0.42-acre lot. The two-story building is currently 100% occupied and zoned RMF, offering significant potential for rental income. Each of the four spacious units features two bedrooms, one and a half bathrooms, a full walkout basement, and a private deck. Recent updates include new kitchen cabinets, tub/shower surrounds, toilets, and HVAC systems, ensuring both comfort and efficiency for tenants. The property's prime location in Salem, VA provides convenient access to local amenities and conveniences, making it an attractive option for renters. This multifamily property represents a solid addition to any investment portfolio. Financial details, including a rent roll, are available upon request. Don't miss this chance to acquire a well-maintained, high-performing investment property in a desirable location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.