MLS#2615177
STATUSActive
PROPERTY TYPECommercial - Business
Property Description
**RICHMOND's BEST BUY** Value-add opportunity in Richmond (23223). This 20-unit apartment complex is the perfect property for any experienced investor. This is an easy BRRR. This property consists of 5 buildings, each a QUAD, with 2 upstairs units with vaulted ceilings, and 2 downstairs units. All units are all electric. Owner pays for water, sewer and trash, tenants pay for electric. All units are 20beds, 1-bath and are around 744 sq ft each. Units have forced hot air electric, and window AC units. There are currently 12 units rented, 6 units ready to rent, and 2 down units used for storage... Units rent in current condition at $1250 per month. With upgrades, rents can easily be $1500-$1900 per unit, depending on upgrades and finished. Property needs some basics, landscaping, fencing, driveway reclamation and overall cleanup. Interiors need basics as well like fresh flooring, cabinets, painting and counter tops. Easy place to upgrade to granite as kitchens are small and open. The largest upgrades would be to heating and cooling systems down the road as they expire. Value add opportunity, with 6 available units to rent, immediate added value of 7K per month as is, just need to rent them out. With basic cosmetics, can double the present monthly income in very little time. This one is worth taking a look at, nothing else on the market like it. Drive by and take a look today.
Property Features
Property Type: Commercial - Business
Cooling: Window Unit(s)
Heating: Electric, Forced Air
Home Style: Garden Home
Lot Size: 0.59 Acres
Roof Type: Shingle
Stories: 2.0
Year Built: 1967
Feature Descriptions
Building Features: Multi-Tenant, No Elevators
Exterior: Metal Siding, Vinyl Siding
Lot: Level
Parcel#: E000-0604-015
Sewer: Public Sewer
Topography: Level
Water: Public
Listed By / Shown By
Listed By
Agency Name: Weichert Brockwell & Associate
Shown By
Agent Name: UR Relocation
Agent Phone: (804) 408-9790
Agency Title: Joyner Fine Properties
UR Relocation
Office: (804) 408-9790
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1401 Coalter Street | MLS# 2615177
This commercial property located at 1401 Coalter Street , Richmond, VA 23223 is currently listed for sale with an asking price of $2,399,000. Search Richmond real estate on www.spiderrelocation.com today.