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Renovated Luxury Apartments 2028 W Cary St 6 Unit Apartment Building $2,750,000 ($458,333/Unit) Richmond, VA 23220
Investment Highlights
- 1,470 SF commercial space
- Off street parking
- 2 buildings
- Outdoor patio seating
- Full service NNN restaurant lease with 3.5 years remaining
- 7 units total: 1 commercial and 6 residential units
Executive Summary
2028 W Cary is an exceptionally rare opportunity to own a luxury renovated/new construction mixed use asset in Richmond’s most sought after “blue-chip” neighborhood, the Fan District. Designed by David Johannas of Johannas Design Group, this award winning project is a stunning and successful example of “historic meets modern” design and construction in an excellent central location with unparalleled access to some of the City’s most desirable amenities.
The offering consists of two (2) structures, designed to complement one another. The existing historic structure is a fully renovated 3,100 SF 2- story retail building, tenanted by a local restaurant tenant on the ground floor. On the additional floor above is one (1) apartment. The historic building is flanked by a dramatic 5,600 SF 3-story modern addition of five (5) unique apartments, completed in 2016 to maximize density across the entire 0.162 acre site.
Walkable to Richmond’s local shopping mecca, Carytown, and recently developed mixed use community, Cary Street Station, 2028 W Cary offers a high profile luxury investment
with long term upside for both rent and value appreciation. Apartments include a range of 1-3 bedroom floor plans across both buildings, beautifully executed with high end condo-grade finishes, multi-level layouts, strategic preservation of historic elements, commercial grade windows and doors, and private balcony/patio space: all of which could recommend the property for condo conversion in the future. A low maintenance luxury asset for an owner-occupant buyer or a boutique multifamily investor, 2028 W Cary offers a “turn-key” investment opportunity with a diversified revenue stream.
The offering consists of two (2) structures, designed to complement one another. The existing historic structure is a fully renovated 3,100 SF 2- story retail building, tenanted by a local restaurant tenant on the ground floor. On the additional floor above is one (1) apartment. The historic building is flanked by a dramatic 5,600 SF 3-story modern addition of five (5) unique apartments, completed in 2016 to maximize density across the entire 0.162 acre site.
Walkable to Richmond’s local shopping mecca, Carytown, and recently developed mixed use community, Cary Street Station, 2028 W Cary offers a high profile luxury investment
with long term upside for both rent and value appreciation. Apartments include a range of 1-3 bedroom floor plans across both buildings, beautifully executed with high end condo-grade finishes, multi-level layouts, strategic preservation of historic elements, commercial grade windows and doors, and private balcony/patio space: all of which could recommend the property for condo conversion in the future. A low maintenance luxury asset for an owner-occupant buyer or a boutique multifamily investor, 2028 W Cary offers a “turn-key” investment opportunity with a diversified revenue stream.
Property Facts
Amenities
Unit Amenities
- Balcony
- Ceiling Fans
- Granite Countertops
- Stainless Steel Appliances
- Walk-In Closets
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Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (73)
Property Taxes
| Parcel Number | W000-0898-032 | Improvements Assessment | $1,648,000 |
| Land Assessment | $248,000 | Total Assessment | $1,896,000 |
Property Taxes
Parcel Number
W000-0898-032
Land Assessment
$248,000
Improvements Assessment
$1,648,000
Total Assessment
$1,896,000
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Renovated Luxury Apartments | 2028 W Cary St
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