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Carytown Quad Investment Opportunity 3203 Ellwood Ave 4 Unit Apartment Building $935,000 ($233,750/Unit) Richmond, VA 23221
Investment Highlights
- Fully leased
- Separately metered utilities
- Recently renovated with modern finishes
- Prime location
Executive Summary
Located in the heart of Richmond's highly sought-after Carytown neighborhood, 3203 Ellwood Avenue offers a rare opportunity to acquire a fully renovated four-unit apartment building in one of the city's strongest rental markets. Each of the four thoughtfully updated one-bedroom apartments features modern finishes while maintaining the property's classic character. The building is fully leased, with all four apartments generating $1,499 per month, providing stable, in-place cash flow from day one. Each unit is separately metered, with tenants responsible for all utilities, helping to minimize operating expenses. Just steps from Carytown's acclaimed restaurants, local boutiques, coffee shops, and entertainment, the property offers an exceptional walkable lifestyle that continues to drive strong tenant demand. Whether you're seeking a turnkey investment or a long-term hold in one of Richmond's premier neighborhoods, 3203 Ellwood Avenue is an outstanding opportunity.
Property Facts
| Price | $935,000 | Building Class | C |
| Price Per Unit | $233,750 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 2,384 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1923 |
| Apartment Style | Low-Rise | ||
| Zoning | R-48 - Residential | ||
| Price | $935,000 |
| Price Per Unit | $233,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 2,384 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1923 |
| Zoning | R-48 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,499 | - |
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Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | W000-1454-012 | Improvements Assessment | $293,000 |
| Land Assessment | $200,000 | Total Assessment | $493,000 |
Property Taxes
Parcel Number
W000-1454-012
Land Assessment
$200,000
Improvements Assessment
$293,000
Total Assessment
$493,000
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