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4901-4905 Chamberlayne Ave
Richmond, VA 23227
Multifamily Property For Sale
·
12 Units
PROPERTY FACTS
| No. Units | 12 | Building Size | 8,520 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1965 |
| Building Class | C | Parking Ratio | 10/1,000 SF |
| Lot Size | 0.74 AC | ||
| Zoning | R-48 | ||
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.74 AC |
| Building Size | 8,520 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 10/1,000 SF |
| Zoning | R-48 |
ABOUT 4901-4905 CHAMBERLAYNE AVE , RICHMOND, VA 23227
One South Commercial is please to present the Azalea Place Apartments located prominently on Chamberlayne Ave in the City of Richmond’s Northside. The building, constructed in 1965, exemplifies mid-century colonial architecture and includes 12 stabilized, revenue-generating multifamily units. Recent capital improvements include new replacement windows, new kitchens and baths in multiple units, and new boiler and roof in 2017. The units are comprised of seven 2-bed/1-bath units and five 1-bed/1-bath units. Each unit has large windows from the living room overlooking the front lawn area and Chamberlayne Ave. Each unit also has access from the kitchen to an individual rear deck area with ample space for a grill and outdoor furniture. Additionally, the property features a distinctive circular driveway along its Chamberlayne Ave frontage. In addition to abundant on-street parking spaces, this unique driveway also accommodates 12 off-street parking spaces. Within five miles of Downtown, the property is also adjacent to Henrico County, Bryan Park, Belmont Park, and Pine Camp. Quick access to Interstates 95 and 64 provides tenants with convenient routes to reach all areas of Metro Richmond and beyond. Public transportation is also an option for tenants with multiple GRTC bus lines frequently running along Chamberlayne Ave. Nearby new construction and recent renovations to existing properties are spearheading much-deserved excitement in the Northside multifamily market. As the demand for housing in the area grows, the Azalea Place Apartments offers a great opportunity to capitalize on this emerging market.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 7 | - | - |
PROPERTY TAXES
| Parcel Number | N017-0191-007 | Improvements Assessment | $629,000 |
| Land Assessment | $127,000 | Total Assessment | $756,000 |
PROPERTY TAXES
