323 W Broad St
Richmond, VA 23220

Situated in the heart of the Arts and Cultural District, Artisan Alley Apartments located at 323 West Broad offers a purchaser a stable investment along with excellent upside potential. The area is on a dynamic upswing with new retail, restaurant, gallery and entertainment options with a spurt of new development activity bolstered by the introduction of the much anticipated Bus Rapid Transit system, The Pulse. The unique architecture and beautiful storefronts along this stretch of Broad Street make the neighborhood a favorite for shoppers, diners and art lovers. The close proximity to VCU’s academic campus, the Central Business District, City Hall, State Capitol and State Offices, Federal Courthouse and the VCU Health Systems Medical Campus, as well as a slew of nationally reputed dining and hospitality options make this building one that tenants covet. Built circa 1915 and totally renovated in 2010-11, the developers / owners replaced all of the HVAC, plumbing, electrical, kitchens and baths and put on a new roof. The building consists of 9 spaces – 8 apartments and 1 ground floor retail space currently leased by a upscale women’s clothing boutique, Mod & Soul. There are 3 three-bedroom apartments, 4 two-bedroom apartments, and 1 one-bedroom apartments. The apartments offer high ceilings with a loft style feel alongside exposed brick wall accents, historic trims, and grand oversize historic windows. Hardwood floors, granite countertops, maple cabinets, and stainless steel appliances complete the space. The units are in high demand in this area and the owner should enjoy increases annually as the neighborhood becomes more popular. (The Richmond Metro Area experienced the 5th highest rental increase by percentage in the country in 2017.) Artisan Alley Apartments will be a solid investment for years to come for the new owner