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6424 Elkhardt Rd
Richmond, VA 23225
Kingswood Cove · Multifamily Property For Sale
·
60 Units
PROPERTY FACTS
| No. Units | 60 | Lot Size | 3.61 AC |
| Property Type | Multifamily | Building Size | 36,534 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1976 |
| Building Class | C | Parking Ratio | 3.01/1,000 SF |
| Zoning | MULTIPLE | ||
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.61 AC |
| Building Size | 36,534 SF |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 3.01/1,000 SF |
| Zoning | MULTIPLE |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Disposal
- Refrigerator
- Range
- Carpet
SITE AMENITIES
- Laundry Facilities
- Grill
ABOUT 6424 ELKHARDT RD , RICHMOND, VA 23225
Marcus & Millichap is pleased to present the exclusive offering of Kingswood Cove, a charming 60 unit apartment community in Richmond's Warwick neighborhood. Situated on 3.56 acres, Kingswood Cove is 60 one-bedroom, one-bathroom units located off Route-150 (Chippenham Parkway), a primary highway in the Richmond area. The property's location amenities include the 360 West Shopping Center, Martins Food Markets, Food Lion, Ukrop Park, and the Meadowbrook Country Club is just down Chippenham Parkway. Kingswood Coves location offers quick and easy access to area elementary, middle and high schools. The apartments are only a 15-minute drive South from Downtown Richmond offering the convenience of being close to downtown while allowing for residents to enjoy the quiet luxury of suburban living and quality schools. Major employers in the area include Chippenham Hospital, McGuire Hunter Holmes, Dupont, Phillip Morris, and the State Police Administrative Offices. The Southwest Richmond area has historically enjoyed high occupancy rates and it is expected for this trend to continue over the next decade. Since 2013, there has been an increase in market rents by nearly 7% with strong growth occurring over the past 24-months. The combination of a strong historical occupancy in the market along with steady rent growth makes this an ideal location for any investor looking to increase their portfolio.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 60 | $606.00 | 600 |
PROPERTY TAXES
| Parcel Number | C007-0588-022 | Improvements Assessment | $3,709,000 |
| Land Assessment | $600,000 | Total Assessment | $4,309,000 |
PROPERTY TAXES
