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Listed price in listed location currency (USD).
$2,399,000

0020

MLS® 2608017

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes 
Days Active 35
Lot Size 
Approx. Age 1967
MLS® Number 2608017

Property Address: 1401 Coalter St, Richmond, VA, 23223-4225

Average square foot calculated using Size range provided by listing agent.

Description

Property seeking 1031 Exchange offer. This 20- unit apartment community presents a compelling value-add Opportunity with potential strong cap rate improvement and a clear pathway to long term growth. All units have over 740 square feet (2 bedroom/1bath), upper units have spacious vaulted ceilings, making this an attractive differential among other mainstream apartments. Located just minutes from the VCU campuses, and downtown Shockoe Bottom, the property benefits from a strong renter/ tenant demand driven by proximity to major universities, employment center, and urban amenities. This asset requires professional property management and operations to optimization and growth and minimize current expenses. Giving investors the opportunity to implement a focused business plan aimed at improving efficiency, stabilizing tenants, and remodeling to increase current rents that could exceed $ 1400 plus per unit a month. The location and unit mix supports future rent increases, making this an excellent 1031 Exchange property. This unique property uniquely combines current cash flow, massive equity upside, future rent increases, and a strong renter market fundamentals in one of Richmond's most demanding rental corridors.
MLS® Number2608017
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1967
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 31, 2026List Date
$2,399,000List Price
  • Commute

Commute

Starting Address
Destination Address
1401 Coalter St, Richmond, VA

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