Richmond Multifamily Investment
For Sale
Contact for pricing
Pending
3900 Forest Hill Ave, Richmond, VA 23225
81-unit apartment community in Richmond's Forest Hill neighborhood.
Property Size55,452 SF
Days on Market180
Property Features for 3900 Forest Hill Ave
General Information
Standard status
Pending
Size
55,452 SF
Property subtype
Multifamily
Zoning
R-53
Occupancy
99%
Building Details
Year Built
1978
Buildings
4
Stories
3
Units
81
Listing Agency:
One South Commercial
(804) 690-1482
Listed By:
Ryan Rilee · License #VA 0225187102
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Jul 25 at 10:32AM
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
Investment Insights
Based on property information with market context.
The Park at Forest Hill is an 81-unit garden-style apartment community located in Richmond, Virginia’s desirable Forest Hill neighborhood. It offers a stabilized investment with upside supported by strong occupancy and below-market in-place rents. The property benefits from durable construction, efficient unit layouts, and proximity to neighborhood retail, parks, and major employment corridors, driving consistent renter demand in a supply-constrained submarket. The current ownership has invested more than half a million dollars in interior and exterior upgrades, but there are many value-add levers left to pull. Future ownership can enhance revenue through operational improvements such as utility bill-back implementation, ancillary income programs, and conversion of non-revenue space to rentable units, all without heavy renovation risk. The property size is 55452 square feet.
Key Highlights
- Stabilized 81‑unit apartment community in Richmond's desirable Forest Hill neighborhood.
- Upside potential through below‑market in‑place rents.
- Value‑add opportunities through operational improvements.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 23225, VA
40,876
Population
21,545
Households
1.9
Avg Household Size
38
Median Age
41%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
2,941
Density / Sq Mi
$60,865
Median Household Income
$43,550
Median Earnings
$1,311
Median Rent
$292,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 81-unit apartment community in Richmond's Forest Hill neighborhood.
Where is this apartment building located?
The property is located at 3900 Forest Hill Ave Richmond, VA.
What are key features of this property?
This property features: Stabilized 81‑unit apartment community in Richmond's desirable Forest Hill neighborhood.; Upside potential through below‑market in‑place rents.; Value‑add opportunities through operational improvements.
