Active Listing

Stainback Street Apts | 1121 Stainback St
Petersburg, VA 23803

$

Multi-Family
Property Type

34 
Units

1.34 AC
Parcel

33,364 SF
GBA

Property Summary

One South Commercial is pleased to bring to market the completely renovated Stainback Street Apartments, located at 1121 Stainback St., Petersburg, VA.

The property consists of 34 two-bedroom garden style apartments situated on 2 acres of land which contains 50 parking spaces. The building was gutted and renovated in 2021 and is now in lease up. The kitchens and bathroom were renovated with new appliances, fixtures, cabinets, countertops and flooring. The sheetrock is new as is the lighting. The roofs are brand new.

The units are all 2 bedrooms, 1 bath and are approximately 800 square feet of size. The monthly average of $895 for rent is on the low side of the market, giving the buyer a chance to increase the rents substantially upon renewal.  The Stainback Street Apartments is a solid low-maintenance non-capital intensive investment for a buyer focused on rental growth, management efficiencies, and solid cash flow.

PROPERTY DETAILS

Units 34
Parcel ID 029-140018
Const. Materials Brick
Zoning Desc. R-3
Construction Date 1966
Renovation Date 2019
Co-broker Fee Yes

37
Walkability

29
Transit

PROPERTY PHOTOS

PROPERTY LOCATION

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