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714 N Boulevard , Richmond VIRGINIA 23220

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Price:$550,000
Year Built:1915
Square Feet:3750
Type:Multi-Fami
Status:For Sale

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Rare 8-unit fan/vcu area building for sale. Serious investors only. Great opportunity. Units are cozy studio/efficiency apartments with hardwood floors. Guaranteed rental income of $4, 445/mo with 7 units currently tenant occupied. Building well maintained by professional building manager. But, with a little tlc the units could be great student rentals with higher rents. Owner pays utilities, they run between $800-1200/month. 2011 annual utility expense was $12, 190. Insurance was approx $1500. This deal represents a cap rate of 6. 6% with a 30% expense ratio. Unit c is vacant and available for showings anytime. All other units are rented and shown at weekly pre-scheduled tour. Income/expense sheet will be given only at the weekly tours. Call for day and times.

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Property Information

County Name:Richmond
Neighborhood:
Area:10 - Richmond
Subdivision:None

Richmond Real Estate Agent

Agent Name: Carter Snipes
Agent Phone: 804-358-3888
Agent Email: Carter@SnipesProperties.com
Office Name: Snipes Properties
Office Phone: (804) 358-3888


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