2000 Lamb Ave - Apartments FOR SALE


Richmond, VA 23222- Southern Barton Heights
$1,275,000 USD
804-307-4060
2000 Lamb Ave, Richmond, VA for Sale
$1,275,000 USD
Apartments - FOR SALE
1/36
null | Request Cap Rate

2000 Lamb Ave
Richmond, VA 23222
Southern Barton Heights


HIGHLIGHTS

  • Strong historical occupancy
  • 6 of 8 units renovated
  • Off-street parking

OVERVIEW

2000 Lamb Avenue presents a compelling opportunity to acquire a stabilized, value-add multifamily asset in an improving Richmond submarket. The property consists of eight (8) apartment units and has strong historical occupancy, offering immediate cash flow with upside remaining. Ownership has completed substantial capital improvements, including full renovations of six (6) of the eight units, exterior painting, window replacement as needed and paving of the rear parking lot, significantly reducing near-term capital expenditure needs. The renovated units feature modern finishes in the kitchen & bathroom and in-unit washer and dryers, a highly desirable amenity that supports strong tenant demand and retention. Despite the recent improvements, the property still offers a clear value-add opportunity through the renovation of the remaining two units. Additionally, current rents remain slightly below market, providing investors the ability to capture further upside through strategic rent growth as units turn and market conditions continue to strengthen. Located in an area of Richmond that continues to see reinvestment and neighborhood improvement, 2000 Lamb Avenue benefits from solid fundamentals, strong occupancy, and long-term appreciation potential. This asset is well suited for investors seeking a balance of stable income today with meaningful upside tomorrow.

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$224 USD /SF

# OF UNITS

8

PRICE/UNIT

$159,375

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stabilized 8-Unit Apartments with Upside

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

R-53

APN/PARCEL ID

N000-0409-003

ASK ABOUT THIS PROPERTY

Justin SleddOne South CommercialMore Info
804-307-4060

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Justin SleddOne South CommercialMore Info
804-307-4060

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