9.65 CAP- Rare 10 Unit 2 Lvl TH Style Garden Apt Richmond City
As Is Price: $380,000.00
Sale Specifications:
- RARE multi-family complex purchase comprising of two separate buildings totaling 10 units.
- Apartments are CURRENTLY 100% LEASED
- RENTS ARE UNDER MARKET with the potential to increase immediately by 10%!
- NO COMMON AREAS TO MAINTAIN translating to low operating expenses. Landlord only pays water/sewage and trash.
- Priced at least $3,000-$10,000 below market per unit
- Estimated “as-is” value is, conservatively, at least $400,000.00 to $430,000.00: that’s immediate equity of at least $20,000-$50,000.00! (Remax estimated value is $463,000.00)
- Proforma Effective Gross Income: $64,800, Proforma NOI: OVER $35,000.00
- Current owner has owned this property over 14 years and highly motivated due to personal and family reasons
Property and Location:
- Unique and cozy townhome style two level, two bedroom apartments with front and rear entrances
- Central air
- Solid ALL BRICK structures
- Recently replaced roofing
- Ample parking for tenants
- INSPECTION HAS ALREADY BEEN COMPLETED
- TURNKEY PROJECT: LITTLE TO NO DEFERRED MAINTENANCE = IMMEDIATE CASH FLOW
- Nicely situated in REDEVELOPMENT AREA of Virginia’s GROWING business capital surrounded by history, shopping, and attractions
- Located only .6 miles off of the main interstate, I-64 and only 2.5 miles from downtown Richmond
- .9 miles from the current development of a new grocery store and retail shopping area
- 3.1 miles from a brand new redeveloped Town Center
Nearby attractions and landmarks:
Virginia Commonwealth University Medical Center: 2 miles
Virginia Commonwealth University Main Campus: 4.1 miles
Richmond International Airport: 6.9 miles
Richmond Coliseum Arena: 2.1 miles
Virginia State Capitol Building: 2.3 miles
The National Theater: 2.1 miles
Richmond Convention Center: 2.2 miles
Richmond International Raceway: 3.9 miles
Science Museum of Virginia: 4.1 miles
Maymont Park: 5.6 miles
Virginia Museum of Fine Arts: 5.6 miles
Offering