For Sale
Carytown Quad Investment Opportunity
3203 Ellwood Avenue Richmond Virginia 23221
Asking$935,000
For Sale
3203 Ellwood Avenue Richmond Virginia 23221
Located in the heart of Richmond’s highly sought-after Carytown neighborhood, 3203 Ellwood Avenue offers a rare opportunity to acquire a fully renovated four-unit apartment building in one of the city’s strongest rental markets. Each of the four thoughtfully updated one-bedroom apartments features modern finishes while maintaining the property’s classic character. The building is fully leased, with all four apartments generating $1,499 per month, providing stable, in-place cash flow from day one. Each unit is separately metered, with tenants responsible for all utilities, helping to minimize operating expenses. Just steps from Carytown’s acclaimed restaurants, local boutiques, coffee shops, and entertainment, the property offers an exceptional walkable lifestyle that continues to drive strong tenant demand. Whether you’re seeking a turnkey investment or a long-term hold in one of Richmond’s premier neighborhoods, 3203 Ellwood Avenue is an outstanding opportunity.
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
