3230 Grace St Richmond, VA 23221

This exceptional six-unit apartment building, located at 3230 W Grace St in Richmond, VA, presents a compelling value-add investment opportunity. Built in 1950, this two-story building sits on a 0.142-acre lot (APN: W0001480035) and boasts 3,300 square feet. Currently operating at 100% occupancy, the property features six well-appointed one-bedroom/one-bathroom apartments, each equipped with modern mini-split AC systems and convenient on-site laundry facilities. Residents enjoy ample on-street parking and dedicated off-street parking spaces. The property's strategic location at the corner of West Grace and Tilden Streets offers easy access to the vibrant Scott's Addition neighborhood, known for its diverse culinary scene, and is within walking distance of two world-class museums. The GRTC Pulse bus rapid transit system is also conveniently located nearby. The R-6 zoning provides flexibility for future development. This property's strong history of high occupancy and low tenant turnover, coupled with the high demand for apartments in this desirable area, makes it a stable and lucrative investment with significant potential for appreciation. The asking price is $1,195,000.