18-Unit Apartment Community Corner
2400 Barton Avenue, Richmond, VA 23222
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18-unit multifamily property with an all-two-bedroom mix and recent capital improvements, positioned on a prominent corner lot.
Type:Multifamily
Property size:
18,972 SFPrice / SF:
$144/SF- Added:
- Jun 18, 2026
- Days on Market:
- 9
- Last Refresh:
- Jun 24 at 2:47 am
Property Features for 2400 Barton Avenue
General Information
- Standard status
- Active
- Size
- 18,972 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1940
Listing office One South Commercial (804) 353-0009
Listing date Jun 18, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of One South Commercial
HighLights
- 18‑unit apartment community with an all‑two‑bedroom unit mix.
- Built in 1940 with a prominent corner location on Barton Avenue and East Graham Road.
- More than $300,000 invested in capital improvements since the current ownership acquired the property.
- Corner parcel offers additional open space and flexibility for residents.
- Stable occupancy shown on the current rent roll, with potential for future income growth.
- Comparable renovated two‑bedroom rentals nearby are achieving approximately $1,450/month.
Overview
2400 Barton Avenue is an 18-unit apartment community offering an all two-bedroom unit mix. The property has benefited from more than $300,000 in capital improvements since acquisition, supporting overall condition and day-to-day operating readiness. In addition to the apartment buildings, the expansive corner parcel provides additional open space that can serve as a resident amenity and leaves flexibility for future use of excess land, subject to applicable approvals.
The community sits on a corner lot at the intersection of Barton Avenue and East Graham Road, giving it prominent placement and natural light opportunities. It is positioned for convenient access to the Brookland Park Boulevard corridor, which is noted in the remarks as home to neighborhood dining and retail, including The Smoky Mug, along with an expanding mix of restaurants, coffee shops, breweries, and locally owned retailers.
For investors and operators, the property combines in-place stability with a unit mix focused entirely on two-bedroom layouts. The current rent roll is described as demonstrating stable occupancy, while the remarks reference market-level pricing for renovated two-bedroom apartments in the immediate area as a basis for potential revenue improvement through strategic unit turnover and continued asset management. With substantial recent capital investment and additional land area, the property may appeal to buyers seeking a well-positioned multifamily asset with room to refine and optimize the offering over time.
The community sits on a corner lot at the intersection of Barton Avenue and East Graham Road, giving it prominent placement and natural light opportunities. It is positioned for convenient access to the Brookland Park Boulevard corridor, which is noted in the remarks as home to neighborhood dining and retail, including The Smoky Mug, along with an expanding mix of restaurants, coffee shops, breweries, and locally owned retailers.
For investors and operators, the property combines in-place stability with a unit mix focused entirely on two-bedroom layouts. The current rent roll is described as demonstrating stable occupancy, while the remarks reference market-level pricing for renovated two-bedroom apartments in the immediate area as a basis for potential revenue improvement through strategic unit turnover and continued asset management. With substantial recent capital investment and additional land area, the property may appeal to buyers seeking a well-positioned multifamily asset with room to refine and optimize the offering over time.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $450.8k | $23.76 |
| − Vacancy | −$23.4k | −$1.24 |
| EGI | $427.3k | $22.52 |
| − OpEx | −$192.3k | −$10.14 |
| NOI | $235.0k | $12.39 |
18,972 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.36M
$2.94M – $3.92M
NOI $235,034 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.38M
$3.84M – $5.11M
NOI $306,822 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Ardyss International Free ...
Weight Loss Service
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Richmond City
- State
- Virginia
- Longitude
- -77.4321725
- Latitude
- 37.5643615
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 18-unit multifamily property with an all-two-bedroom mix and recent capital improvements, positioned on a prominent corner lot.
Where is this apartment building located?
The property is located at 2400 Barton Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 18‑unit apartment community with an all‑two‑bedroom unit mix.; Built in 1940 with a prominent corner location on Barton Avenue and East Graham Road.; More than $300,000 invested in capital improvements since the current ownership acquired the property.
