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2554 Noel St Richmond, VA 23237

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Multifamily property featuring a mix of one- and two-bedroom units.

Property size:
53,874 SF
Lot size:
15.00 Acres

Property Features for 2554 Noel St

General Information

Standard status
Active
Size
53,874 SF
Lot size
15.00 Acres

Building Details

Year built
1962

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Listing Contact
Ryan Rilee
Source: Crexi

Listing Agency: One South Commercial Listing Agent: Ryan Rilee

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Multifamily Property in Richmond, VA

This multifamily property contains 105 units. The unit mix includes 82 one-bedroom, one-bathroom units, 22 two-bedroom, one-bathroom units, and one two-bedroom house. The average square footage per unit is 513 square feet. The average in-place rent is $619, which equates to $1.21 per square foot. The average market rent is $921, or $1.80 per square foot. Proforma expenses are $5,163 per unit per year, totaling $73,800 per year for the entire property. The property size is 53874 square feet.
Location Intelligence

Current Use by Public Records

Bellwood Terrace Apartments Apartment Building

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Richmond
County
Richmond City
State
Virginia
Longitude
-77.4354626
Latitude
37.4183853

FAQs

What type of property is this?
Apartment building - Multifamily property featuring a mix of one- and two-bedroom units.
Where is this apartment building located?
The property is located at 2554 Noel St Richmond, VA.
What are key features of this property?
This property features: - Significant rental upside: Current average in-place rent is substantially below market rent, indicating a strong opportunity to increase revenue.; - Diverse unit mix: Features a mix of 1-bedroom and 2-bedroom units, catering to a broader range of potential tenants.; - High unit count: The property offers a substantial income-generating potential with a total of 105 units.
More about this property
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