Corner One-Bedroom Apartment
3618 Chamberlayne Avenue Richmond, VA 23227
3618 Chamberlayne Avenue, Richmond, VA, 23227
$2,600,000
For Sale
$2,600,000
Well-maintained one-bedroom units with updated common areas, in-unit kitchen and flooring improvements, plus a shared laundry room.
Property Size13,212 SF
Price / SF$196.79
Days on Market137
Property Features for 3618 Chamberlayne Avenue
General Information
- Standard status
- Active
- Size
- 13,212 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1963
Listing agency
One South Commercial LLC
(804) 404-3161
Listed by
Isaac Weintz · License #0225250413
(804) 404-3161
Source
Xome
Added: Mar 9 Updated: Jul 23 at 2:40AM Checked: Jul 23 at 2:40AM
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 LLC
Investment Insights
Based on property information with market context.
This multifamily apartment building offers spacious one-bedroom floor plans that have been well maintained. Recent improvements include upgraded common area finishes and kitchen and flooring updates in select units. Residents also have access to a common laundry room.
The property is located on the corner of Chamberlayne Ave & Laburnum Ave, providing street visibility and convenient access to the building’s parking lot. The surrounding area includes supermarkets, schools, and public transportation, supporting everyday resident needs.
As presented, the building is positioned for continued updates and income improvement, with current rents described as an opportunity for investors to increase potential returns.
The property is located on the corner of Chamberlayne Ave & Laburnum Ave, providing street visibility and convenient access to the building’s parking lot. The surrounding area includes supermarkets, schools, and public transportation, supporting everyday resident needs.
As presented, the building is positioned for continued updates and income improvement, with current rents described as an opportunity for investors to increase potential returns.
Key Highlights
- 1963‑built multifamily with one‑bedroom unit floor plans
- Central air cooling
- Upgraded common area finishes plus kitchen and flooring updates in select units
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 | $313.9k | $23.76 |
| − Vacancy | −$16.3k | −$1.24 |
| EGI | $297.6k | $22.52 |
| − OpEx | −$133.9k | −$10.14 |
| NOI | $163.7k | $12.39 |
13,212 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.34M
$2.05M – $2.73M
NOI $163,676 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,669 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Easy Travel
Travel Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained one-bedroom units with updated common areas, in-unit kitchen and flooring improvements, plus a shared laundry room.
Where is this apartment building located?
The property is located at 3618 Chamberlayne Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 1963‑built multifamily with one‑bedroom unit floor plans; Central air cooling; Upgraded common area finishes plus kitchen and flooring updates in select units
