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Iron House Apartments 1309 W Broad St Immeuble residentiel 35 lots À vendre Richmond, VA 23220
Certaines informations ont été traduites automatiquement.
INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- Contact agents for pricing
- Residential total RSF: 24,305 SF (*average unit/SF = 695 SF)
- 39 units total: 35 residential & 4 commercial
- Commercial total RSF: 5,860 SF (*average unit/SF = 1,465 SF)
RÉSUMÉ ANALYTIQUE
CORE-QUALITY ASSET WITH UPSIDE IN DOWNTOWN’S HOTTEST SUBMARKET
Iron House Apartments is a market rate multifamily asset with value-add upside in the ever-expanding Virginia Commonwealth University submarket. VCU enrollment continues to grow and demand for quality housing is as strong as it has ever been across all demographics. As Downtown Richmond evolves, the market will reward owners who prioritize entrepreneurial marketing tactics, provide integrated technologies, and offer retail amenities like fast casual dining. The current owners have spared no expense maintaining Iron House, so the new owner will be able to focus on income-generating strategies. The property is directly across the street from VCU’s indoor arena, the Siegel Center, a block from the VCU bookstore, and an easy walk or bike ride to the primary academic campus, Monroe Park, and its dining, recreational, and social offerings. With a Walk Score of 96, Iron House is a ‘Walker’s Paradise’ community, where daily errands do not require a car. Kroger, the area’s only major supermarket, is only a block west of the property.
STRENGTHS
-Infill location creates natural barriers against competition
-VCU’s steady growth continues to drive leasing and cash flows
-Property carries a sizeable prepaid rental balance
-All residential leases are co-signed @ 5x rent
-25 1BD units stay rented, anchoring income and occupancy
-100% units pay a scalable water/sewer fee
OPPORTUNITIES
-Iron House was an early acquisition for seller and is now their smallest property. Their operating model is no longer efficient at a property this size
-Create destination retail as a resident amenity to stand apart from competitors
-Terminate costly cable contract to save over $13,000 annually
-Deploy the latest marketing tactics like Spotify playlist targeting, YouTube Shorts and Instagram Reels
-Eliminate various technology-related administrative expenses
-Personnel expenses should be limited to successful leasing efforts and targeted maintenance calls
UNIT MIX:
-1 BD/1 BA: 25 units (566 average SF)
-2 BD/2 BA: 6 units (881 average SF)
-3 BD/2 BA: 4 units (1,221 average SF)
-Commercial: 4 units (1,465 average SF)
Iron House Apartments is a market rate multifamily asset with value-add upside in the ever-expanding Virginia Commonwealth University submarket. VCU enrollment continues to grow and demand for quality housing is as strong as it has ever been across all demographics. As Downtown Richmond evolves, the market will reward owners who prioritize entrepreneurial marketing tactics, provide integrated technologies, and offer retail amenities like fast casual dining. The current owners have spared no expense maintaining Iron House, so the new owner will be able to focus on income-generating strategies. The property is directly across the street from VCU’s indoor arena, the Siegel Center, a block from the VCU bookstore, and an easy walk or bike ride to the primary academic campus, Monroe Park, and its dining, recreational, and social offerings. With a Walk Score of 96, Iron House is a ‘Walker’s Paradise’ community, where daily errands do not require a car. Kroger, the area’s only major supermarket, is only a block west of the property.
STRENGTHS
-Infill location creates natural barriers against competition
-VCU’s steady growth continues to drive leasing and cash flows
-Property carries a sizeable prepaid rental balance
-All residential leases are co-signed @ 5x rent
-25 1BD units stay rented, anchoring income and occupancy
-100% units pay a scalable water/sewer fee
OPPORTUNITIES
-Iron House was an early acquisition for seller and is now their smallest property. Their operating model is no longer efficient at a property this size
-Create destination retail as a resident amenity to stand apart from competitors
-Terminate costly cable contract to save over $13,000 annually
-Deploy the latest marketing tactics like Spotify playlist targeting, YouTube Shorts and Instagram Reels
-Eliminate various technology-related administrative expenses
-Personnel expenses should be limited to successful leasing efforts and targeted maintenance calls
UNIT MIX:
-1 BD/1 BA: 25 units (566 average SF)
-2 BD/2 BA: 6 units (881 average SF)
-3 BD/2 BA: 4 units (1,221 average SF)
-Commercial: 4 units (1,465 average SF)
DATA ROOM Cliquez ici pour accéder à
INFORMATIONS SUR L’IMMEUBLE
| Type de vente | Investissement | Surface du lot | 0,14 ha |
| Nb de lots | 35 | Surface de l’immeuble | 2 802 m² |
| Type de bien | Immeuble residentiel | Occupation moyenne | 97% |
| Sous-type de bien | Appartement | Nb d’étages | 2 |
| Style d’appartement | De faible hauteur | Année de construction | 1915 |
| Classe d’immeuble | C | ||
| Zonage | B-6 - Commercial | ||
| Type de vente | Investissement |
| Nb de lots | 35 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Surface du lot | 0,14 ha |
| Surface de l’immeuble | 2 802 m² |
| Occupation moyenne | 97% |
| Nb d’étages | 2 |
| Année de construction | 1915 |
| Zonage | B-6 - Commercial |
CARACTÉRISTIQUES
CARACTÉRISTIQUES DU LOT
- Climatisation
- Balcon
- Lave-vaisselle
- Micro-ondes
- Machine à laver/sèche-linge
- Cuisine
- Plans de travail en granit
- Planchers en bois
- Accès internet à haut débit
- Réfrigérateur
- TV satellite
- Four
- Électroménager en acier inoxydable
- Moquette
- Congélateur
- Couvre-fenêtres
CARACTÉRISTIQUES DU SITE
- Accès 24 h/24
- Accès contrôlé
- Laverie
- Commerces sur place
- Entretien sur site
1 1
Walk Score®
Idéal pour les promeneurs (96)
Bike Score®
Très praticable en vélo (88)
TAXES FONCIÈRES
| Numéro de parcelle | W000-0615-024 | Évaluation des aménagements | 4 122 683 € |
| Évaluation du terrain | 1 131 416 € | Évaluation totale | 5 254 099 € |
TAXES FONCIÈRES
Numéro de parcelle
W000-0615-024
Évaluation du terrain
1 131 416 €
Évaluation des aménagements
4 122 683 €
Évaluation totale
5 254 099 €
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Iron House Apartments | 1309 W Broad St
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