The Flats at Rutgers 4823 Rutgers St NW 102 Unit Apartment Building For Sale Roanoke, VA 24012

The Flats at Rutgers is a 102-unit workforce housing community located within Roanoke's primary retail and employment corridor. Ownership has invested more than $1.7 million in capital improvements since 2021, including approximately 57 renovated units, extensive HVAC replacement, community-wide vinyl window upgrades, exterior improvements, and new community amenities. The Property generates average rents exceeding $1,100 per occupied unit and benefits from stable occupancy, strong rent collections, and meaningful ancillary income. Located within one of Roanoke's most established apartment submarkets, The Flats at Rutgers offers immediate access to major employment centers, retail amenities, Roanoke-Blacksburg Regional Airport, and direct connectivity to both I-581 and I-81. Roanoke continues to benefit from stable apartment fundamentals, positive rent growth, and significant regional investment, supporting long-term demand for well-located workforce housing communities that maintain a meaningful affordability advantage relative to newly delivered Class A alternatives. The Property is currently encumbered by fixed-rate Fannie Mae financing. Buyers may evaluate either an assumption of the existing financing or a traditional free-and-clear acquisition structure depending on investment objectives and capital strategy.