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1400 Branders Bridge Rd
Colonial Heights, VA 23834
Branders Bridge Apartments · Multifamily Property For Sale
·
41 Units
PROPERTY FACTS
| No. Units | 41 | Lot Size | 0.65 AC |
| Property Type | Multifamily | Building Size | 70,312 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1973/1992 |
| Building Class | B | Parking Ratio | 2.36/1,000 SF |
| Zoning | R4 - 313 - Residentia | ||
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.65 AC |
| Building Size | 70,312 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1973/1992 |
| Parking Ratio | 2.36/1,000 SF |
| Zoning | R4 - 313 - Residentia |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Hardwood Floors
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Trash Pickup - Curbside
ABOUT 1400 BRANDERS BRIDGE RD , COLONIAL HEIGHTS, VA 23834
Branders Bridge portfolio consists of 41 two bedroom townhomes, located in the Colonial Heights suburb of Richmond, VA. The sellers have accumulated a majority ownership of units in the condominium complex, and therefore are the leading voice in the condo association. The owners have done extensive improvements to the apartments in the last two years. They have replaced all of the HVAC units and have renovated the kitchens and baths. Additionally, considerable resources have been invested in upgrading the parking lots, exterior landscaping, and roofs. Built in a classic colonial style, the units were originally marketed for sale and have since evolved into a rental community. Each unit is two stories with a living room, dining area, and kitchen with a half bathroom on the first floor and two bedrooms and a bathroom on the second floor. Each unit includes a rear patio, washer and dryer, dishwasher, and microwave. The appliances are new, as are the heating and air conditioning units (heat pumps with cooling). The units are all approximately 1,050 square feet which places Branders Bridge within the upper size end of the submarket. The average rents are in the $700 to $725 range, which comes out to approximately $0.66 to $0.69 per square foot, a number that will allow a good upside for the new owner. In regards to utilities, tenants pay electricity which also heats and cools the apartments, and the owner pays for water, sewer, and trash. With the large units, attractive landscaping, close proximity to shopping, employment centers and Downtown Richmond, this portfolio offers an investor the chance to own an investment with a stable operating history and an opportunity to increase the rents to more closely reflect the Metro square foot average. Branders Bridge Apartment Portfolio is an excellent opportunity for an investor to buy recently renovated units with good cash flow with an opportunity to increase.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 63 | - | 1,050 |
| 2+2 | 1 | - | 1,050 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,739,700 | |
| Land Assessment | $739,300 | Total Assessment | $3,479,000 |
PROPERTY TAXES
