2213 Bailey Ave Salem, VA 24153

OFF-MARKET

Apartment buildings

Property ID

US87-0519118

3,848 SF 0.42 ac lot Built 1973

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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.

Property type Apartment buildings

Year built 1973

Total area 3,848 SF

Lot 0.42 ac (18,295 SF)

UPID US87-0519118

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

2213 Bailey Ave Salem, VA 24153

Salem metro

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6 recent transactions · within 1.5 mi

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