Investment Property for Sale in Radford VA

Investment Property for Sale in Radford VA

Charming historical home with investment potential located just two blocks from Radford University and minutes from I-81. This corner property has +/-0.6267 acres and features a home built in 1949 with historical charm and investment potential. The residence has 5,572 square feet on 3 levels and a full basement, providing ample living space with 8 bedrooms and 4 bathrooms. Each level includes its own kitchen, making it ideal for multi-person living and potential rental opportunities. Home is heated by a gas hot water radiator system.

The ground level features a laundry room, den area, kitchen, and bathroom. 10 foot ceilings, oak hardwood floors, and a wood fireplace. The second level has 3 bedrooms, 1 bath, a kitchen and sitting area. The second level also includes a convenient exterior balcony entrance in addition to interior stairs. The third level offers 2 bedrooms, a kitchen, living room, and bathroom. The property's basement provides additional living space with 3 bedrooms, 1 bath, and a kitchen.

Outside, the home features a large front covered porch, a metal roof, and vinyl siding with cinderblock/rock foundation. Public water and sewer.

The property also offers two independent, separate cottages with a total of 730 sq ft of living space that adds to potential rental income. 

The subject property consists of 2 adjoining parcels, 1205 Downey St. and 1201 Downey St. The house tract (1205) extends approximately 180' back to a 14' public alley. 1201 Downey St. is a vacant lot at the corner of Downey St. and 2nd Ave. The 2 combined parcels have approximately 178' of frontage on Downey St. and approximately 102' along 2nd Ave. The total area of the 2 lots combined is approximately +/- 0.6267 AC.

Street parking is allowed on Downey St. plus ample space beside the house and on the adjacent vacant tract. 

With its proximity to Radford University and potential for renovation, this property offers a unique blend of historical character and practicality, making it a compelling investment opportunity in a prime location.

Directions:  From the intersection of Jefferson St and Tyler Rd in Radford, Take Tyler Rd to a left onto Downey St. Property will be on the left. See signs.

For more information on this property, contact Auctioneer Matt Gallimore at 540-239-2585 or email Gallimore.Matt@gmail.com. You can also contact Associate Broker Mauyer Gallimore 540-250-5051 or email gallimore.tm@gmail.com