2308 5th Ave - Apartments FOR SALE


Richmond, VA 23222- Highland Park Southern Tip
$375,000 USD
804-307-4060
2308 5th Ave, Richmond, VA for Sale
$375,000 USD
Apartments - FOR SALE
1/17
null | Request Cap Rate


HIGHLIGHTS

  • Fully leased
  • Turnkey investment opportunity
  • 2 BD/1 BA
  • Off street parking in rear
  • Tenant covers all utilities

OVERVIEW

Located in Richmond’s rapidly evolving North Highland Park neighborhood, 2308 5th Avenue presents a turnkey investment opportunity in a city with a strong local economy and growing job market. This duplex property features two fully leased 2-bedroom, 1-bathroom units, generating a gross monthly income of $2,025 per month in rental income (Unit A $850/Unit B $1,175). Residents enjoy modernized interiors with central air, in-unit washer/dryer, dishwashers, and updated finishes. Tenants cover all utilities, including water, trash, and electricity, ensuring low owner expenses. Off-street parking in the rear adds to the property’s appeal. Rents are below market and can easily be increased to market at the time of renewal. With North Highland Park experiencing increased investment and revitalization, this asset benefits from the area's continued appreciation. Whether you're a seasoned investor or looking to expand your portfolio, 2308 5th Avenue offers stable cash flow in a city primed for sustained growth.

FOR SALE DETAILS

PRICE

$375,000 USD

PRICE/SF

$181 USD /SF

# OF UNITS

2

PRICE/UNIT

$187,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fully Leased Duplex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2007

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R-6

APN/PARCEL ID

N000-0611-020

ASK ABOUT THIS PROPERTY

Justin SleddOne South CommercialMore Info
804-307-4060

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

Justin SleddOne South CommercialMore Info
804-307-4060

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