1401 Coalter St - Apartments FOR SALE


Richmond, VA 23223- Mosby
$2,399,999 USD
804-366-0200
1401 Coalter St, Richmond, VA for Sale
$2,399,999 USD
Apartments - FOR SALE
1/25
null | 10.76% Cap Rate

1401 Coalter St
Richmond, VA 23223
Mosby


HIGHLIGHTS

  • Well-maintained 20-unit multifamily property offering a mix of long-term and newer short-term tenants for stable cash flow.
  • Current leases include newer agreements at $1,250, creating immediate income stability and growth potential.
  • Architectural appeal with several units featuring partial vaulted ceilings that enhance tenant desirability.
  • Ample on-site and surrounding parking with 20+ spaces available for residents and guests.
  • Value-add opportunity through modest interior renovations and exterior enhancements to increase NOI and property appreciation.
  • Located in a growth-oriented Richmond neighborhood across from a well-maintained Richmond Redevelopment Housing Authority property.

OVERVIEW

Value Add Investment Opportunity in Richmond, VA.: 20-Unit Apartment Complex. Discover this well-positioned 20-unit multifamily property, it provides a solid mix of both long-term tenants, and newer short-term tenants with newer leases of $ 1250.00, providing both stable cash flow, and room for income growth. With a Mix that includes several partial vaulted ceilings, adding to the architectural appeal and tenant desirability. A healthy tenant mix ensures ongoing revenue, and immediate upside potential through modest renovations and rent adjustments. With ample parking of 20+ parking spaces available on site and surrounding the property for residents and guests. Opportunities for interior updates and exterior enhancements, positioning this property as a strong candidate for increased NOI and future appreciation. Located across from a property managed by the Richmond Redevelopment Housing Authority, which is very well maintained by the City of Richmond located in an area poised for continued growth, making this an excellent long-term investment with strong rental demand and growth. Whether you're an investor seeking steady returns or buying for potential upside, this asset offers a balanced blend of income, location, and opportunity. Contact Ken Byers 804-919-4444 or Matt Smith 804-366-0200

FOR SALE DETAILS

PRICE

$2,399,999 USD

PRICE/SF

$160 USD /SF

# OF UNITS

20

PRICE/UNIT

$120,000

CAP RATE

10.76%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.59 AC

LAND SF

25,700 SF

ZONING

R-53

APN/PARCEL ID

E000-0604-015

ASK ABOUT THIS PROPERTY

Matt SmithWeichert Realtors Brockwell & Associates.More Info
804-366-0200

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Matt SmithWeichert Realtors Brockwell & Associates.More Info
804-366-0200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.