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