3901-3903 Cutshaw Ave - Apartments FOR SALE


Richmond, VA 23230- Sauer's Gardens
$2,250,000 USD
202-536-3738
3901-3903 Cutshaw Ave, Richmond, VA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

3901-3903 Cutshaw Ave
Richmond, VA 23230
Sauer's Gardens


HIGHLIGHTS

  • • Favorable Unit Mix of 8 2BR/2BA Units & 11 Parking Spaces
  • • 100% Occupied with Strong Rental Demand
  • • Pro Forma Cap Rate of 7.06% Achieved by Increasing Rents through Targeted Upgrades
  • • Prime Location in Richmond’s Museum District & Proximate to VCU
  • • Virginia’s Landlord-Friendly Polices Support Efficient Management and Acquisition

OVERVIEW

Feldman Ruel is pleased to offer for sale 3901-3903 Cutshaw Avenue, an eight-unit multifamily property in the Museum District of Richmond, Virginia. Built in 1948, the subject property consists of eight two-bedroom, two-bathroom units with potential for increased rental income through modest capital improvements. Each unit is well appointed with desirable amenities, including in-unit washer and dryer, stainless steel appliances, balconies, walk-in closets, and on-site parking, providing a modern living experience. Comparable properties in the submarket with upgraded finishes achieve rents of up to $2,300 per month. Virginia’s landlord-friendly policies and 3901-3903 Cutshaw Avenue’s prime location contribute to its potential as a compelling investment opportunity.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$293 USD /SF

# OF UNITS

8

PRICE/UNIT

$281,250

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

1948

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,840 SF

ZONING

R-53

APN/PARCEL ID

W000-1794-014

ASK ABOUT THIS PROPERTY

Christopher ChadwickFeldman RuelMore Info
202-536-3738

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Christopher ChadwickFeldman RuelMore Info
202-536-3738

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