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Property profile & analytics
OFF-MARKET
Estimated value
$1,645,000
Apartment buildings
2503 Lynhaven Ave Richmond, VA 23234-1243
Entity Owned
4-yr Hold
Free & Clear
Property ID
US87-3938335
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1965
Construction
WOOD
Total area
10,429 SF
Lot
0.81 ac (35,249 SF)
Zoning code
R-53 MULTI FAMILY
APN
S-008-0381-018
UPID
US87-3938335
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.43M
CAP Approach
CAP
$1.99M
Comparable Approach
Comparable
$1.80M
Blend (final)
Blend
$1.65M
Owner & transaction history
Clairborne Court LLC · 4 yrs held
Clairborne Court LLC
since 2021
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
R-53 MULTI FAMILY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+13.3%
Medical building
$1.7M
+3.6%
Neighborhood: shopping center
$1.7M
+2.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,275,000
ML approach
$1,425,000
CAP Approach
CAP Return
Estimation
6%
$2,155,000
6.5%
$1,990,000
7%
$1,845,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,675,000
Current use
AUTO REPAIR, GARAGE
$1,900,000
Change: +13% · Conversion: Difficult
MEDICAL BUILDING
$1,735,000
Change: +4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,715,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,645,000
Change: -2% · Conversion: Moderate
OFFICE BUILDING
$1,540,000
Change: -8% · Conversion: Moderate
RETAIL STORES
$1,505,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.65M
Range $1.48M – $1.81M · ±10% · vs last sale $1.70M (Dec 30 2021)
Last sale anchor
$1.70M
Dec 30 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$158 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$1,642,000
Assessed 2024
Previous assessed
$1,075,000
+52.7% YoY
Effective rate
0.00%
On assessed value
Assessed land
$260,000
Assessed improvement
$1,382,000
Land market value
$260,000
Improvement market value
$1,382,000
Total market value
$1,642,000
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1965
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Units
26
Rooms
53
Bathrooms
26
Total area
10,429 SF
Lot
0.81 ac (35,249 SF)
Zoning code
R-53 MULTI FAMILY
APN
S-008-0381-018
UPID
US87-3938335
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-53 MULTI FAMILY · Richmond, VA
Zoning R-53 MULTI FAMILY · permitted uses
R-53 MULTI FAMILY · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
26
Rooms
53
Bathrooms
26
Lot
0.81 ac
Current owner
From public records · entity-resolved
Clairborne Court LLC
Entity
Free & Clear · 4 yrs held
Mailing address
107 S 1ST ST, RICHMOND, VA 23219-3718
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2022
—
Claiborne Court LLC
—
Deed
related
$2,872,000 · Vcc Bank
Dec 30, 2021
$1,700,000
Clairborne Court LLC
Im Living LLC
Warranty Deed
—
Dec 19, 2017
$1,050,000
Im Living LLC
Bi Appl E Ventures LLC
Warranty Deed
$527,235 · Union Bk&tr
May 1, 2015
$860,000
Big Apple Ventures LLC
Quality Apts I LLC
Grant Deed
$716,000 · Branch Bk&tr
Oct 13, 2004
$800,000
Quality Apartments I LLC
Manna Financial Ltd
Grant Deed
$800,000 · Silver Construction Cap
Aug 26, 1998
—
Camrod Properties Ltd
—
Grant Deed
related
—
Mar 5, 1998
$156,750
Manna Financial Ltd
—
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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