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404 W Broad St
Richmond, VA 23220
Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- Great location near new CoStar Center for Arts and Innovation and academic campus of Virginia Commonwealth University on corner of W Broad St.
- The asset represents a strong value add opportunity through renovation of apartments to expand rents.
- Located on Pulse high speed rapid transit bus system.
EXECUTIVE SUMMARY
Welcome to 404 W Broad Street mixed-Use Asset. Exceptional investment opportunity in the heart of Richmond’s highly sought after Broad Street corridor. This 5,800 SF mixed-use property features four residential apartment units and a 2,200 SF ground-floor retail space, offering strong income potential and flexibility for a variety of uses.
Located just steps from VCU and surrounded by Richmond’s vibrant dining, retail, and arts scene, the property benefits from excellent visibility, heavy foot traffic, and steady rental demand.
Located just steps from VCU and surrounded by Richmond’s vibrant dining, retail, and arts scene, the property benefits from excellent visibility, heavy foot traffic, and steady rental demand.
PROPERTY FACTS
| Price Per Unit | $180,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 8.20% | Building Size | 5,799 SF |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | B-4 | ||
| Price Per Unit | $180,000 |
| Sale Type | Investment |
| Cap Rate | 8.20% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,799 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2020 |
| Opportunity Zone |
Yes |
| Zoning | B-4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
PROPERTY TAXES
| Parcel Number | N000-0206-018 | Improvements Assessment | $502,000 |
| Land Assessment | $360,000 | Total Assessment | $862,000 |
PROPERTY TAXES
Parcel Number
N000-0206-018
Land Assessment
$360,000
Improvements Assessment
$502,000
Total Assessment
$862,000
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