Updated Jul 30, 2025
Stonegate Manor LLC Acquires 66 Unit Multifamily Portfolio In Virginia For $6.27 Million
821 Stonegate Drive & 101 Roberts Road Southwest
$6,269,000
Units
66
Asset Type
MultiFamily
Closing
Jul 9, 2025
About this deal
AI
A 66-unit multifamily portfolio spanning two properties was sold for $6,269,000. This includes Stonegate Manor Apartments located at 821 Stonegate Drive in Salem and Hounds Chase Apartments at 101 Roberts Road Southwest in Roanoke, Virginia.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,269,000
- Units: 66
- Price Per Unit: $94,985
- Seller: D & J Associates
- Broker: Clay Taylor - Cushman & Wakefield
Stonegate Manor, LLC facilitated the acquisition of the multifamily properties, marking a notable transaction in the Salem and Roanoke markets. The sale took place on July 9, 2025, highlighting the continuing interest in multifamily investments in Virginia.
On the Map
$6,269,000
MultiFamily
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Players
Salem MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.53%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93