9.65 CAP- Rare 10 Unit 2 Lvl TH Style Garden Apt Richmond City

[Elizabeth Soc]

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

Hurry, this won’t last long! EMAIL  for more information!!!