Richmond, VA 23223,1401 Coalter ST
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Richmond, VA 23223,1401 Coalter ST
Richmond, VA 23223,1401 Coalter ST
Richmond, VA 23223,1401 Coalter ST
Richmond, VA 23223,1401 Coalter ST
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Virginia Capital

Virginia Capital

+1(804) 440-4663
$ 2,399,999
Est. payment /mo
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1401 Coalter ST Richmond, VA 23223

14,899 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 14,899 sqft

Price per Sqft $161

MLS Listing ID 2601249

Construction Status Actual

HOA Y/N No

Year Built 1967

Lot Size 0.594 Acres

Acres 0.5937

Property Sub-Type Townhouse

Property 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.

Location

State VA

County Richmond City

Area 10 - Richmond

Direction From Downtown Richmond, take Broad St. East, turn left on 21rst Street, then building is on the corner of Coalter on the right.

Interior

Heating Forced Air

Cooling Central Air

Exterior

Fence None

Roof Type Asphalt,Shingle

Topography Level

Total Parking Spaces 20

Building

Lot Description Conservation Area, Level

Building Description Metal Siding,Vinyl Siding, Multi-Tenant,No Elevators

Story 2

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Metal Siding,Vinyl Siding

Construction Status Actual

Others

Tax ID E000-0604-015

Ownership Investment

Central Virginia Regional MLS (CVR MLS)
Listed by Weichert Brockwell & Associate

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1401 Coalter ST

Virginia Capital

Virginia Capital

License ID: 0226018394

+1(804) 440-4663

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