228 W Broad St - Apartments FOR SALE


Richmond, VA 23220- Jackson Ward
$1,085,000 USD
804-432-2688
228 W Broad St, Richmond, VA for Sale
$1,085,000 USD
Apartments - FOR SALE
1/19
null | 5.61% Cap Rate

228 W Broad St
Richmond, VA 23220
Jackson Ward


HIGHLIGHTS

  • Stabilized asset with good current tenants and building condition.
  • Great location in Richmond's Downtown Art's District; A downtown area with shops, bars, restaurants, hotels, art galleries and offices.
  • Management has opportunity to push rents from current levels to market.
  • Proximate to VCU Medical Center and Central Business District.

OVERVIEW

Mixed-Use asset with one retail suite and three (3) apartments on the second and third floors. Stabilized rent roll. Art Gallery tenant is entering over twenty four years of tenancy. Room to push rents to market on apartment renewals and commercial lease has 5% increases year over year. Great location in VCU submarket and Venture Richmond Arts District. Excellent condition with recent renovation of apartment one.

FOR SALE DETAILS

PRICE

$1,085,000 USD

PRICE/SF

$211 USD /SF

# OF UNITS

3

PRICE/UNIT

$361,667

CAP RATE

5.61%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

228 W. Broad Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

B-4 Central business

APN/PARCEL ID

N000-0140-029

ASK ABOUT THIS PROPERTY

Kerry RileyMarcus & MillichapMore Info
804-432-2688

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

Kerry RileyMarcus & MillichapMore Info
804-432-2688

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