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Bliley's Garage Apartments 412 N 3rd St 15 Unit Apartment Building $3,100,000 ($206,667/Unit) Richmond, VA 23219
Investment Highlights
- Fully-Occupied 15-Units on Transit Line facing the Convention Center
- Opportunity Zone Tax Incentives
- 1 Block to Richmond Coliseum $15M Redevelopment Project and .5mi to 10th St 10-Bay Transfer Hub and Mixed-Use Center
- Opportunity to Redevelop apr. 2200sf Garage and Outside Patio to Multi-Levels for Mixed-Uses
Executive Summary
15 Unit Multi-Family Property located in one of Richmond's most exciting locations, only steps from the Richmond Convention Center, Coliseum Mixed-Use Project, 10th St Transfer Station, MCV Hospital and Medical Center, with interstate access and in a Federally Designated Opportunity Zone. Bliley's Garage Apartments at Richmond's City Center was built in 1930 and redeveloped to 15 brownstone apartments consisting of (10) 1 and (5)2-bedroom units. The integrity of its design and construction earned developers the Better Housing Coalition Golden Hammer Award for the region's best adaptive reuse and most environmentally friendly project and the Greater Richmond Association of Commercial Real Estate's Best Multi-Family Project. Designated solar panels reduce carbon emissions and lower tenant costs. Along with the attached garage, character and charm of Bliley's Garage Apartments, structurally superior building with a blend of original, historic and modern features. Advanced energy-efficient systems, the outdoor patio, large, open spaces, tall ceilings and windows allow for an abundance of natural lighting. Custom kitchens crafted with handmade cabinets and unique finishes add to the industrial feel and integrity of one of Jackson Ward's most historically prominent properties. Enjoy stable income with opportunity to increase rentable square footage. Opportunity Zone Incentives Apply.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
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-
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| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,100,000 | Lot Size | 0.32 AC |
| Price Per Unit | $206,667 | Building Size | 18,336 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2011 |
| Property Subtype | Apartment | Parking Ratio | 0.84/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | B-4 - the “B-4 Central Business District,” a dense, transit-oriented mixed-use zone allowing a wide range of uses, allowing for density, up to 12 stories. | ||
| Price | $3,100,000 |
| Price Per Unit | $206,667 |
| Sale Type | Investment |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 18,336 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1930/2011 |
| Parking Ratio | 0.84/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | B-4 - the “B-4 Central Business District,” a dense, transit-oriented mixed-use zone allowing a wide range of uses, allowing for density, up to 12 stories. |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Ceiling Fans
- Vaulted Ceiling
- Wi-Fi
- Built-In Bookshelves
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Picnic Area
- Wheelchair Accessible
- Pet Play Area
- Smoke Free
- Bicycle Storage
- Pet Care
- Public Transportation
- Walk To Campus
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,195 | 585 |
| 2+2 | 5 | $1,525 | 1,000 |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | N000-0038-015 | Improvements Assessment | $2,010,000 (2026) |
| Land Assessment | $450,000 (2026) | Total Assessment | $2,460,000 (2026) |
Property Taxes
Parcel Number
N000-0038-015
Land Assessment
$450,000 (2026)
Improvements Assessment
$2,010,000 (2026)
Total Assessment
$2,460,000 (2026)
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