804-266-8831
1309 W Broad St, Richmond, VA for Sale
Apartments - FOR SALE
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1309 W Broad St
Richmond, VA 23220


HIGHLIGHTS

  • MARK COMMERCIAL RENTS TO MARKET
  • GROW RESIDENTIAL INCOME IN A MATURING SUBMARKET
  • PREMIER RICHMOND LOCATION
  • EXCELLENT WALKABILITY & TRANSIT
  • OPTIMAL DEMOGRAPHICS
  • CORE MACRO LOCATION IN A LOW VELOCITY SECONDARY MARKET

OVERVIEW

Iron House Apartments is a uniquely Richmond multifamily investment opportunity affording investors a piece of the Virginia Commonwealth University ecosystem, which generates billions of dollars in economic impact each year. Over the past several years, institutional developers and investors have flocked to the Richmond Metro and VCU submarket drawn to superior rent growth potential and new economic drivers. New amenity packages have resulted in double-digit rent increases and offer local and regional players a blueprint for success. The downtown Richmond housing market is still anchored by unique architecture and experiential amenities, positioning Iron House for long-term success. -Avg Iron House Residential Rents: $1,329 -Avg Submarket Residential Rents: $2,040 -Latest Iron House Leasing Cycle vs Submarket: -1 Bd: $1,191 vs $1,591 -2 Bd: $1,615 vs $2,082 -3 Bd: $2,410 vs $2,491 -Avg Iron House Commercial Rents: $22 PSF MG -Avg Submarket Commercial Rents: $30 PSF NNN -Latest Iron House Commercial Lease Rent: $30 PSF MG

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

35

CAP RATE

Request Cap Rate

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Iron House Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

B-6

APN/PARCEL ID

W000-0615-018,W000-0615-024

ASK ABOUT THIS PROPERTY

Ryan RileeOne South CommercialMore Info
804-266-8831

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Ryan RileeOne South CommercialMore Info
804-266-8831

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