Six Unit Multi-Family Investment
3230 West Grace Street Richmond Virginia 23221
$1,195,000
Nestled in the heart of Richmond’s prestigious Museum District, 3230 W Grace Street offers an exceptional living experience. This charming property features six well-appointed 1-bedroom/1-bathroom apartments, each equipped with modern mini-split AC systems and the convenience of onsite laundry facilities. Strategically located at the corner of West Grace and Tilden, residents benefit from ample on-street parking as well as several dedicated off-street parking spaces. The property’s prime location ensures high accessibility to the vibrant Scott’s Addition, known for its plethora of restaurants and cafés, creating a lively and convenient lifestyle.
Cultural enthusiasts will appreciate the proximity to two world-class museums, while commuters will find the GRTC Pulse just a few blocks away, providing seamless connectivity throughout the city. With a strong history of high occupancy and low tenant turnover, this property represents a stable and lucrative investment opportunity. The demand for such desirable apartments significantly exceeds supply, promising continuous appreciation in value. As the neighborhood continues to flourish, investing in 3230 W Grace Street guarantees a resilient and rewarding asset.
ABOUT THE MUSEUM DISTRICT
Nestled in the heart of Richmond, the Museum District is a vibrant neighborhood that perfectly blends historic charm with contemporary living. Home to esteemed institutions like the Virginia Museum of Fine Arts and the Science Museum of Virginia, it’s a haven for art, history, and science enthusiasts. Stroll through streets lined with beautifully preserved early 20th-century homes in styles such as Colonial Revival, Tudor, and Mediterranean. The friendly, tight-knit community hosts regular events, farmers’ markets, and festivals, fostering a strong sense of belonging. Despite its historic ambiance, the Museum District features modern amenities, including chic boutiques, gourmet restaurants, and cozy cafes. Nearby parks provide ample opportunities for outdoor activities. With easy access to major highways and public transportation, commuting and exploring Richmond is convenient. Families will appreciate the proximity to top-rated schools and educational programs offered by local museums. As one of Richmond’s most desirable neighborhoods, the Museum District is a smart investment, promising both a home and property value appreciation.
Justin is a seasoned commercial real estate expert with over 15 years worth of experience. Having a widespread knowledge of the Richmond real estate market, Justin is comfortable handling many types of transactions, but his primary practice areas are multifamily and investment sales. Justin possesses a commanding knowledge of Richmond’s rental market, providing his clients with in-depth analysis of the competitive landscape and value-added solutions. Justin is a Richmond native and a graduate of Virginia Commonwealth University.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
