Active Listing

Labrook Terrace Apartments | 37 Labrook Drive
Richmond, VA 23225

$

Multi-Family
Property Type

18 
Units

1.44 AC
Parcel

9,476 SF
GBA

Property Summary

  • UNDER NEW MANAGEMENT
  • NOW LEASING RENOVATED UNITS AT $1,050
  • 8 OF 18 UNITS ARE FULLY RENOVATED

One South Commercial is pleased to introduce 37 Labrook Drive, an exceptional commercial real estate opportunity in Richmond, VA. This well-maintained multifamily property boasts 18 one-bedroom apartments, offering residents comfortable living spaces and easy access to all the amenities they need.

Five of the units have been recently renovated, with premium finishes and modern appliances throughout. These units command a market rent of $975 per month, making them an excellent investment for discerning buyers. Meanwhile, the remaining units are currently marketed at $850 a month, with potential for rent increases with renovation. All of the units at the property feature mini-split heating and cooling systems, ensuring optimal comfort year-round. 

One of the key benefits of 37 Labrook Drive is its ample on-site parking, providing residents with convenience of private parking at no additional cost. The property is also situated in a prime location, with easy access to public transportation and a host of employers in the surrounding area. This makes it an ideal choice for residents looking for affordable housing. 

Investors looking for a stable and profitable opportunity in commercial real estate will find 37 Labrook Drive an excellent choice. With a proven track record of strong rental demand, prime location and modern amenities, this property offers exceptional investment opportunity in Richmond, VA.

  • Mini-split AC
  • Private parking
  • Rent growth
  • Value add
  • Contact agent for pricing details

PROPERTY DETAILS

Units 18
Parcel ID C0051067032
Const. Materials Masonry
Zoning Desc. R-3
Construction Date 1974
Renovation Date 2022
Co-broker Fee Yes

46
Walkability

33
Transit

PROPERTY PHOTOS

Related Properties

For Sale

1311 Village Views Drive
Glen Allen, VA 23059

Multi-Family, Single Family Rental Portfolio

For Sale

424 East Grace Street
Richmond, VA 23220

Mixed Use, Multi-Family, Office, Redevelopment, Retail

For Sale

1676 South Sycamore Street
Petersburg, VA 23803

Multi-Family