COMING SOON

HOPEWELL LOFTS

1201 W City Point Rd, Hopewell, VA 23860

High Quality 50-Unit Apartment Investment in the Underpriced Richmond MSA Submarket

Capture Organic Rent
Growth

Rents growing 10% at renewals and trade outs

Light Value-Add
Opportunity

Capture the competition’s $100/month market rent premium with a discretionary value-add program

Supply constrained submarket

Supply constrained Hopewell submarket is 98.6% occupied with no units under construction.

Positive Operating Economics

Submarket rents and property gross income increased nearly 10% over the past year.

ZERO INTEREST RATE RISK

Eliminate interest rate risk with assumable loan fixed at 2.55%.  Secondary financing available.

QUICK FACTS

  • Originally built in 1925 and completely renovated in 2010, including all new finishes and building systems
  • Mix of studios, 1 bd, 2 bd, and 3bd units averaging 781 square feet
  • In-place rents average $915 month / $1.17 per square foot
  • 96% occupancy
APARTMENTS
%
OCCUPANCY
AVERAGE APT SF
$
AVERAGE RENT/MO
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rrilee_circle

Ryan Rilee

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Tom Rosman