Lee Williams
Property Description
Property seeking 1031 Exchange offer. This 20- unit apartment community presents a compelling value-add Opportunity with potential strong cap rate improvement and a clear pathway to long term growth. All units have over 740 square feet (2 bedroom/1bath), upper units have spacious vaulted ceilings, making this an attractive differential among other mainstream apartments. Located just minutes from the VCU campuses, and downtown Shockoe Bottom, the property benefits from a strong renter/ tenant demand driven by proximity to major universities, employment center, and urban amenities. This asset requires professional property management and operations to optimization and growth and minimize current expenses. Giving investors the opportunity to implement a focused business plan aimed at improving efficiency, stabilizing tenants, and remodeling to increase current rents that could exceed $ 1400 plus per unit a month. The location and unit mix supports future rent increases, making this an excellent 1031 Exchange property. This unique property uniquely combines current cash flow, massive equity upside, future rent increases, and a strong renter market fundamentals in one of Richmond's most demanding rental corridors.
Property Features
Property Type: Commercial - Business
Cooling: Central Air
Heating: Forced Air
Home Style: Garden Home
Lot Size: 0.59 Acres
Roof Type: Asphalt, Shingle
Stories: 2.0
Year Built: 1967
Feature Descriptions
Building Features: Multi-Tenant, No Elevators
Days on Site: 3
Exterior: Metal Siding, Vinyl Siding
Fencing: None
Lot: Conservation Area, Level
Parcel#: E000-0604-015
Sewer: Public Sewer
Topography: Level
Water: Public
Listed By / Shown By
Listed By
Agency Name: Weichert Brockwell & Associate
Shown By
Agent Name: Lee Williams
Agent Phone: (804) 524-9001
Agency Title: Napier Realtors ERA
Listed By: Weichert Brockwell & Associate
Disclaimer:
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/04/2026. The listing information on this page last changed on 04/04/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sat 04/04/2026 12:00:16 AM EST) or CAAR MLS (last updated Fri 04/03/2026 11:10:15 PM EST) or CVRMLS (last updated Fri 04/03/2026 11:56:10 PM EST) or Williamsburg MLS (last updated Fri 04/03/2026 10:54:49 PM EST) or NNAR MLS (last updated Fri 04/03/2026 10:26:36 PM EST) or Chesapeake Bay & Rivers (last updated Fri 04/03/2026 8:50:23 PM EST). Real estate listings held by brokerage firms other than Napier Realtors ERA may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. These real estate listings were derived from the Central Virginia Regional Multiple Listing Service, LLC, of which this brokerage is an independently owned Participant. The information contained in these listings is deemed reliable but is not guaranteed. All MLS listings are © 2026 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved. No one may copy and/or repost these MLS listings, or any portion thereof, without the written permission of an authorized officer of the Central Virginia Regional Multiple Listing Service, LLC. These listings are refreshed within a minimum of every seven calendar days. Thus, listings may appear here for properties no longer on the market. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing or leasing.
© 2022 Napier Old Colony Realtors Inc, dba Napier Realtors ERA. All rights reserved.
ERA® and the ERA logo are registered service marks owned by ERA Franchise Systems LLC. Napier Realtors ERA fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchises are not provided by, affiliated with or related to ERA Franchise Systems LLC nor any of its affiliated companies.
Privacy Policy / DMCA Notice / ADA Accessibility
This site is hosted, designed and copyright
© 1994 - 2026 by
Delta Media Group, Inc. -- Patent Pending --
Agency License Information: A licensed real estate firm in the state of Virginia.