Great investment opportunity consisting of 7 residential condos and 1 commercial space in the heart of Jackson Ward adjacent to popular Hippodrome theater. Each condo and commercial unit are currently rented and bring approximately 5.5% (7.08% for commercial) CAP rate after expenses. Please see excel sheet with details attached. 6 of the condos are efficiency studios offered for $100,000 each, approximately 430 sq ft each. 1 of the condos is 1bdr/1bath, 1015 sq ft with a loft area available for $170,000. Monthly HOA due of $150 includes water/sewer/trash and $40/month rental fee for parking at 514 N 2nd St. Commercial unit is located on the 1st level with storefront. It's offered for $180,000. Portfolio can be purchased as whole or separately. Units are fully occupied with guaranteed annual rental income of $74,160. Appliances convey. In walking distance to MCV and VCU.
Listing courtesy of Snipes Properties.
All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listing are © 2020 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. Real estate properties marked with the Central Virginia MLS (CVRMLS) icon are provided courtesy of the CVRMLS IDX database. The information being provided is for a consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing. IDX information updated .