Property Summary
One South Commercial is excited to present the exclusive listing for 3618 Chamberlayne Avenue a 20-unit apartment building located on a prime corner lot in Richmond’s Northside.
This property is an excellent investment opportunity with low rents and a strong upside potential. Known as Magnolia Place, each of the units are spacious one-bedroom floor plans that have been well maintained. The building also has a common laundry room for the convenience of the residents. Located on the corner of Chamberlayne Ave & Laburnum Ave, this property offers excellent street visibility and easy access for residents to the building parking lot. The surrounding area is filled with amenities such as supermarkets, schools, and public transportations, making it an attractive location for residents.
The current rents are low, presenting a great opportunity for investors to increase income potential of the property. With some minor upgrades and improvements, the property has the potential to attract higher paying tenants and generate significant returns. Overall, this is a fantastic investment opportunity for a commercial real estate investor. The combination of low rents, a prime location, and strong upside potential make this property a smart choice for anyone looking to add a valuable asset to their portfolio.
- Ginter Park Neighborhood
- 20 One-Bedroom Units
- Ample Parking
- Corner Lot
- High Occupancy: 95%
PROPERTY DETAILS
| Units | 20 |
|---|---|
| Parcel ID | N0001749001 |
| Const. Materials | Brick |
| Zoning Desc. | R-48 |
| Construction Date | 1963 |
| Co-broker Fee | Yes |