Flats on Wythe | 141 E Wythe St
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Flats on Wythe 141 E Wythe St
19 Unit Apartment Building For Sale Petersburg, VA 23803
Investment Highlights
- 19 units
- 95% occupied
- $1,092 average monthly rent/unit
- 16,150 SF
- 752 average SF/unit
- $1.45 average PSF rent/unit
Executive Summary
MARK TO MARKET OPPORTUNITY
Opportunity to capture $150+ delta between competitive set without appreciable capital investment.
LOW MAINTENANCE FINISHES
Historic finishes like exposed brick, hardwood and concrete flooring are always in demand and will help keep turn costs and general maintenance below market.
SOLID RENTER BASE
62% of Petersburg residents are renters, either by choice or necessity, offering property owners considerable leverage when setting asking rents and terms.
STRONG SUBMARKET GROWTH
Demographic reports show that local population has grown more than 7% in the last several years, especially among renters by necessity. Demographics point to solid growth among those 30 to 55, who typically pay more in rent.
PROXIMITY TO EMPLOYMENT & HIGHER EDUCATION
Easy commute to numerous employment centers and universities, offering residents a wealth of employment and educational opportunities.
*CONTACT AGENT FOR PRICING
Opportunity to capture $150+ delta between competitive set without appreciable capital investment.
LOW MAINTENANCE FINISHES
Historic finishes like exposed brick, hardwood and concrete flooring are always in demand and will help keep turn costs and general maintenance below market.
SOLID RENTER BASE
62% of Petersburg residents are renters, either by choice or necessity, offering property owners considerable leverage when setting asking rents and terms.
STRONG SUBMARKET GROWTH
Demographic reports show that local population has grown more than 7% in the last several years, especially among renters by necessity. Demographics point to solid growth among those 30 to 55, who typically pay more in rent.
PROXIMITY TO EMPLOYMENT & HIGHER EDUCATION
Easy commute to numerous employment centers and universities, offering residents a wealth of employment and educational opportunities.
*CONTACT AGENT FOR PRICING
Data Room Click Here to Access
Property Facts
| Sale Type | Investment | Lot Size | 0.89 AC |
| No. Units | 19 | Building Size | 16,150 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Mid Rise | Year Built | 1908 |
| Building Class | B | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.89 AC |
| Building Size | 16,150 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1908 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Ceiling Fans
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Patio
- Window Coverings
Site Amenities
- Controlled Access
- Courtyard
- Property Manager on Site
- Gated
- Package Service
- Recycling
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Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 022-10-0007 | Improvements Assessment | $2,085,900 |
| Land Assessment | $285,000 | Total Assessment | $2,370,900 |
PROPERTY TAXES
Parcel Number
022-10-0007
Land Assessment
$285,000
Improvements Assessment
$2,085,900
Total Assessment
$2,370,900
zoning
| Zoning Code | B-3 |
| B-3 |
-
Ryan Rilee -
One South Commercial
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Flats on Wythe | 141 E Wythe St
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