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 Coliseum Arena: 2.1 miles

Virginia State Capitol Building: 2.3 miles

Science Museum of Virginia: 4.1 miles

Maymont Park: 5.6 miles

Hurry, this won’t last long! EMAIL [email protected] for more information!!!