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Emily Carter

Jim & Pat Carter Real Estate, Inc.

emily@carterrealestate.com +1(804) 436-4949

$ 2,400,000

Est. payment -/mo

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1401 Coalter ST Richmond, VA 23223

0.6 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 2528512

Construction Status Actual

HOA Y/N No

Year Built 1967

Lot Size 0.597 Acres

Acres 0.597

Property Description

A rare multi-family 20- Unit Investment Opportunity, IDEAL FOR 1031 Exchange portfolio Expansions, In-State and Out-Of-State Investors serious about improving or diversifying their portfolios. This 20 total unit investment is in a prime location, offering immediate income and stability, with current tenant stability, and also a great opportunity for a Value-Add potential. Ideal for increasing and improving property with investor looking to make improvements for future equity and refinanceable opportunities. This exceptional property presents investors with the opportunity to secure a modest performing commercial multi-family facility, income- producing asset with multiple streams of rental income and possible diverse lease structures for long-term stability. Again, this is PERFECT for a 1031 EXCHANGE, those interested in growing or diversifying their existing portfolio, or looking for reliable cash flow with room to increase returns through strategic improvements and solid property management. With a proven strong rental market, and tenant demand, with updating and further improving units and common areas could also significantly improve rental and Cap rates. Located close to downtown Shockoe Bottom, VCU, local bus transportation across the street from this location making this an attractive location and size for immediate income, improved value-added property, with the opportunity to continue to improve cash flow, appreciation potential and scalability. Remodeled and improved rentals close to the location have rental income of $1400-$1600 as a result of the same improvement opportunities and investor involvement. This property combines instant cash flow, appreciation potential, improved property management, with a unique opportunity to improve cash flow, build equity, and improve performance all while rentals and tenants demands offer this property to strengthen for years to come.

Location

State VA

County Richmond City

Area 10 - Richmond

Direction From Downtown Richmond, take broad street East, turn left on 21st street, then right on Coalter St. Ahead on Corner

Interior

Heating Forced Air

Cooling Central Air, Window Unit(s)

Exterior

Fence None

Roof Type Asphalt,Shingle

Topography Level

Total Parking Spaces 12

Building

Lot Description Conservation Area, Level

Building Description Metal Siding,Vinyl Siding, Multi-Tenant,No Elevators

Story 2

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Metal Siding,Vinyl Siding

Construction Status Actual

Others

Tax ID E000-0604-015

Ownership Owner-User

Listed by Weichert Brockwell & Associate

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Emily Carter

+1(804) 436-4949

Broker | Unknown0225024367

Broker Unknown0225024367

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