516 N 2nd Street, Richmond, VA 23219

$950,000
List Price
$950,000
Days on Market
15
MLS#
CVR-2019223
Status
ACTIVE
Type
Commercial
Year Built
1898
County
Richmond City
Region
10 - Richmond

Property Description

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.

Additional Information

Acres
0.5
Roof
Metal
Cooling
Central Air
Heating
Electric

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Snipes Properties.

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