COMING SOON

Seventeenth Street Lofts

331-333 Oliver Hill Way, Richmond, VA 23219

24 Apartments in Shockoe Bottom with Upside

Premier SHOCKOE
Location

A Walker’s Paradise (95 Walk Score) proximate to Richmond’s largest employers and surrounded by countless dining and entertainment destinations.

Exceptional Rent
Growth

Owners are currently implementing 10% rent increases at renewal. Class B submarket rents have grown nearly 20% year-over-year since early 2021 and at the same time have moved away from the traditional all-inclusive structure.

Strong occupancy with minimal collection loss

The property has no vacancy and the submarket is tight at 98% occupancy, giving owners both pricing power and discretion in qualifying new residents.  Apartments at the property are being rented within days of becoming available.

Clear Upside

Close a $100+ delta between the subject and competing monthly rents.  Owners have invested substantially in core building systems, creating an opportunity to make revenue generating improvements.

Features & Amenities

  • Fully sprinklered, smoke detectors in units and corridors
  • Units individually metered for electricity
  • Units conditioned by individual split system heat/AC
  • Washer/dryer/dishwasher
  • Granite countertops, stainless appliances
  • Original concrete and maple floors
  • Abundant natural light from large picture windows
RESIDENTIAL UNITS
%
OCCUPANCY
PARKING SPACES
SQUARE FEET
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Ryan Rilee

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Tom Rosman