Flats at 14 | 10 S 14th St
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Flats at 14 10 S 14th St
27 Unit Apartment Building For Sale Richmond, VA 23219
Investment Highlights
- 27 units (25 apartments + 2 hybrid live/work spaces)
- 93% occupied
- $2.00 average rent/PSF
- 511 SF average unit size
- $1,031/month average rent
- Contact agents for pricing
Executive Summary
CALL FOR OFFERS DUE 5PM ON NOVEMBER 22ND
MARK TO MARKET OPPORTUNITY
Quickly capture $200+ delta between property-level rents and those of comparable properties in the Shockoe submarket.
EXCELLENT COST BASIS
Prized opportunity to own in a trophy location immediately following 30-years of property-level income restrictions. Historic finishes like exposed brick and concrete flooring remain in demand and will help keep renovation costs below market.
MULTIPLE VIABLE BUSINESS PLAN
Yield: Buy the location, manage efficiently, renovate from cashflow, hold long-term.
Total Return: Renovate + Push Rents + Exit in 3-5 years.
EXCELLENT SUBMARKET DEMOGRAPHICS
Location supports capital investment + price appreciation in an area with job growth and excellent demographics.
LOOSENED SHORT TERM RENTAL REGS
The property can have up to 8 short-term rental units based on 2023 City of Richmond regulations. Nightly rates over the trailing 12 months average $135.
MARK TO MARKET OPPORTUNITY
Quickly capture $200+ delta between property-level rents and those of comparable properties in the Shockoe submarket.
EXCELLENT COST BASIS
Prized opportunity to own in a trophy location immediately following 30-years of property-level income restrictions. Historic finishes like exposed brick and concrete flooring remain in demand and will help keep renovation costs below market.
MULTIPLE VIABLE BUSINESS PLAN
Yield: Buy the location, manage efficiently, renovate from cashflow, hold long-term.
Total Return: Renovate + Push Rents + Exit in 3-5 years.
EXCELLENT SUBMARKET DEMOGRAPHICS
Location supports capital investment + price appreciation in an area with job growth and excellent demographics.
LOOSENED SHORT TERM RENTAL REGS
The property can have up to 8 short-term rental units based on 2023 City of Richmond regulations. Nightly rates over the trailing 12 months average $135.
Data Room Click Here to Access
Property Facts
| Sale Type | Investment | Lot Size | 0.09 AC |
| No. Units | 27 | Building Size | 13,392 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid Rise | Year Built/Renovated | 1870/2017 |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 13,392 SF |
| Average Occupancy | 93% |
| No. Stories | 4 |
| Year Built/Renovated | 1870/2017 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
1 of 1
Walk Score ®
Very Walkable (85)
Bike Score ®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $4,524,000 | |
| Land Assessment | $1,350,000 | Total Assessment | $5,874,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,350,000
Improvements Assessment
$4,524,000
Total Assessment
$5,874,000
zoning
| Zoning Code | B-5 |
| B-5 |
-
Ryan Rilee -
Lory Markham -
One South Commercial
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Flats at 14 | 10 S 14th St
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