Property Summary
ONE SOUTH COMMERCIAL is pleased to present the Morton Apartments at 213 East Broad St & 214 East Grace St. The property is among the top tier of housing assets in the Downtown Richmond Area.
Morton’s Apartments is a strongly-performing multifamily asset located on East Broad St & East Grace Street in the heart of Richmond’s Central Business District. Redeveloped in 2013 and renovated in 2019, the property comprises 23 Class A apartments and one commercial office space. With a walkability score of “97”, Morton’s Apartments are within walking distance of the largest employers and demand generators for downtown Richmond including the State Capitol and office buildings, MCV/VCU Health campus and medical school, VCU’s Monroe Park campus, headquarters for many of the region’s largest companies, and a myriad of local businesses, restaurants, cafes, galleries, retail stores, theatres, gourmet markets, etc.
MORTON’S APARTMENTS’ prime location offers an investor the chance to lease to three different tenant profiles:
- Young Professionals working at the CBD or State Capital
- Healthcare Tenants (Medical School Students, Nurses, and Hospital Staff)
- VCU Graduate Students
The property is on the route for the new GRTC Pulse bus rapid transit system and immediately proximate to all major highways.
PROPERTY DETAILS
| Units | 24 |
|---|---|
| Parcel ID | W00000359007 | W0000049006 |
| Const. Materials | Brick |
| Zoning Desc. | B-4 |
| Prop. Condition | Good |
| Construction Date | 1910 |
| Renovation Date | 2019 |
| Co-broker Fee | Yes |