14,899 SqFt
14,899 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 14,899 sqft
Price per Sqft $161
MLS Listing ID 2615177
Style Garden Home
Construction Status Actual
HOA Y/N No
Year Built 1967
Lot Size 0.590 Acres
Acres 0.59
Property Description
Value-add opportunity in Richmond (23223). This 20-unit apartment complex is the perfect property for any experienced investor. This is an easy BRRR. This property consists of 5 buildings, each a QUAD, with 2 upstairs units with vaulted ceilings, and 2 downstairs units. All units are all electric. Owner pays for water, sewer and trash, tenants pay for electric. All units are 20beds, 1-bath and are around 744 sq ft each. Units have forced hot air electric, and window AC units. There are currently 12 units rented, 6 units ready to rent, and 2 down units used for storage... Units rent in current condition at $1250 per month. With upgrades, rents can easily be $1500-$1900 per unit, depending on upgrades and finished. Property needs some basics, landscaping, fencing, driveway reclamation and overall cleanup. Interiors need basics as well like fresh flooring, cabinets, painting and counter tops. Easy place to upgrade to granite as kitchens are small and open. The largest upgrades would be to heating and cooling systems down the road as they expire. Value add opportunity, with 6 available units to rent, immediate added value of 7K per month as is, just need to rent them out. With basic cosmetics, can double the present monthly income in very little time. This one is worth taking a look at, nothing else on the market like it. Drive by and take a look today.
Location
State VA
County Richmond City
Area 10 - Richmond
Direction Take Fairway to Mosby, then straight on Littlepage St. to a Right on Coalter st..
Interior
Heating Electric, Forced Air
Cooling Window Unit(s)
Exterior
Roof Type Shingle
Topography Level
Building
Lot Description Level
Building Description Metal Siding,Vinyl Siding, Multi-Tenant,No Elevators
Story 2
Sewer Public Sewer
Water Public
Architectural Style Garden Home
Level or Stories Two
Structure Type Metal Siding,Vinyl Siding
Construction Status Actual
Others
Tax ID E000-0604-015
Ownership Investment
Schools and Properties Nearby
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