Rare Multi-Family Investment - Historic Fan District/VCU
1712 Floyd Avenue Richmond Virginia 23220
$1,830,000
1712-1714 Floyd Avenue is located in Richmond’s Historic Fan District. Just west of Virginia Commonwealth University, the property has a total of eight large one bedroom floor plans. Each unit features a large living room, eat-in kitchen, dishwasher, washer/dryer, hardwood floors, central air and claw foot tubs. This property has enjoyed high occupancy with well qualified residents. With several value-add components and low rents, this is the ideal property for investors. The property is individually metered for utilities.
ABOUT THE FAN DISTRICT
The Fan District is located within the City of Richmond on the western edge of Downtown and VCU’s Monroe Park Campus. Bounded by Broad Street, the Boulevard, the Downtown Expressway and Belvidere, the Fan is one of Richmond’s most striking and engaging urban neighborhoods. The Fan was largely developed in the early 1900’s and remains one of the city’s most walkable and pedestrian friendly places to live. The density and mixed-use nature of the Fan means cultural, entertainment, and dining options are located within the residential district and this unique blend is one of the Fan’s most appealing attributes. The Fan’s strategic location within Richmond means that the best of the city’s culture and entertainment is never far away. Located along the Fan’s western border, the Boulevard corridor is home to some of the best of Richmond’s arts and culture. The famed Virginia Museum of Fine Arts (VMFA), the Virginia Museum of History and Culture, the Science Museum of Virginia, and the Children’s Museum are all conveniently located within walking distance of each other. In addition to museums, the Boulevard and Broad St corridor provides numerous entertainment options such as the Bow Tie Theater and The Diamond, home to the Flying Squirrels baseball club (AA Affiliate of the San Francisco Giants). Additionally, fine and performing art centers including the Altria Theatre, Dominion Energy Center/Carpenter Center, the Institute of Contemporary Art (ICA), and The National are located immediately east of the Fan in the heart of VCU and in the Downtown district. In keeping with the early 20th century urban design philosophy, almost every location within the Fan is within a short and reasonable walk of several restaurants and/or markets. Main Street and Robinson Streets serve as commercial corridors housing many restaurants, breweries, coffee shops, and more. Lombardy, Meadow and to some extent, Strawberry Streets all have a high instances of dining establishments and markets.
Justin is a seasoned commercial real estate expert with over 15 years worth of experience. Having a widespread knowledge of the Richmond real estate market, Justin is comfortable handling many types of transactions, but his primary practice areas are multifamily and investment sales. Justin possesses a commanding knowledge of Richmond’s rental market, providing his clients with in-depth analysis of the competitive landscape and value-added solutions. Justin is a Richmond native and a graduate of Virginia Commonwealth University.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
