1623 W Grace St - Apartments FOR SALE


Richmond, VA 23220- The Fan
$635,000 USD
804-266-8831
1623 W Grace St, Richmond, VA for Sale
$635,000 USD
Apartments - FOR SALE
1/40
null | Request Cap Rate

1623 W Grace St
Richmond, VA 23220
The Fan


HIGHLIGHTS

  • Hardwood floors & decorative fireplaces
  • Central air
  • Washer/dryer (shared)
  • Off street parking
  • Individually metered for electricity

OVERVIEW

One South Commercial is pleased to bring to market 1623 W Grace Street, a renovated 1910’s Victorian triplex in the heart of Richmond’s iconic Fan District. Just blocks from the VCU campus, this triplex has maintained a strong history of 100% occupancy and offer value add opportunities through cosmetic upgrades. The property features two 1 bedroom and one 2 bedroom floor plans. These three apartments offer the charm and character of a historic home including beautiful hardwood floors and decorative fireplaces. Amenities include central air, washer/dryer and off street parking. Additionally, the units are individually metered for electricity. Recent improvements include: Two new HVAC units (Unit A & C, 2024), new ventilation pipe for boiler/water heater, new exterior paint, new bathroom flooring (Unit C, 2024), Rebuilt Back Deck (2016). 1623 W Grace Street is a strong multi-family opportunity in Richmond’s most premier neighborhood. This property is ideal for an investor looking to expand their portfolio or anyone looking to enter the multi-family market with true presence.

FOR SALE DETAILS

PRICE

$635,000 USD

PRICE/SF

$242 USD /SF

# OF UNITS

3

PRICE/UNIT

$211,667

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

2,876 SF

ZONING

R-48

APN/PARCEL ID

W000-0735-020

ASK ABOUT THIS PROPERTY

Isaac WeintzOne South CommercialMore Info
804-266-8831

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Isaac WeintzOne South CommercialMore Info
804-266-8831

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.