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MARK TO MARKET OPPORTUNITY -There is an opportunity to capture a $300+ per unit rent increase by aligning current rents with market rates in new or renovated multifamily properties in downtown Richmond. STRONG COMMERCIAL TENANCY - The property comes with an established commercial lease with a tenant that has been in place since 2013 featuring above-market annual rent increases of 7%. RECENT CAPITAL INVESTMENT - Seller recently painted entire facade and continues to be an excellent steward of the property. EXCELLENT SUBMARKET DEMOGRAPHICS -Jackson Ward is a prime area for capital investment and price appreciation, supported by job growth and excellent demographic trends. UNBEATABLE MOBILITY - The property is on the GRTC Pulse bus line and is walkable to work, school, and leisure destinations.PROPERTY FEATURES
Rooms Total : 14
Water Source : Public
Sewer System : PublicSewer
Accessibility Features : AccessibilityFeatures
Lot Features : Level
Roof : Flat
Property Condition : GoodCondition
Possible Use : Retail
Cooling : Yes.
Cooling : CentralAir
Construction Materials : Brick
Topography : Level
PROPERTY DETAILS
Street Address: 14 W Broad Street
City: Richmond
State: Virginia
Postal Code: 23220
MLS Number: 2419080
Year Built: 1917
Courtesy of One South Commercial LLC
City: Richmond
State: Virginia
Postal Code: 23220
MLS Number: 2419080
Year Built: 1917
Courtesy of One South Commercial LLC
Courtesy of One South Commercial LLC
