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Property profile & analytics
OFF-MARKET
Estimated value
$24,360,000
Apartment buildings
3505 Chamberlayne Ave Richmond, VA 23227-4537
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-3941529
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1963
Construction
TYPE NOT SPECIFIED
Total area
119,180 SF
Lot
3.58 ac (155,858 SF)
Zoning code
R-48 MULTI FAMILY
APN
N-000-1343-020
UPID
US87-3941529
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
Current use
Occupant on record · Public records
-
Hawthorn Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$22.72M
Comparable Approach
Comparable
$33.33M
Blend (final)
Blend
$24.36M
Owner & transaction history
Virginia Residence LLC · 5 yrs held
Virginia Residence LLC
since 2020
4 recorded transactions
Zoning & alternative use
R-48 MULTI FAMILY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$24,610,000
6.5%
$22,715,000
7%
$21,090,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$39,875,000
Current use
RESTAURANT
$33,535,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$24.36M
Range $21.92M – $26.80M · ±10%
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
$204 / 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
$9,133,000
Assessed 2024
Previous assessed
$9,939,000
-8.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$2,480,000
Assessed improvement
$6,653,000
Land market value
$2,480,000
Improvement market value
$6,653,000
Total market value
$9,133,000
Applied tax rate
3.0000
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 (100+ UNITS)
Status
Off-Market
Year built
1963
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
3
Units
124
Rooms
124
Total area
119,180 SF
Lot
3.58 ac (155,858 SF)
Zoning code
R-48 MULTI FAMILY
APN
N-000-1343-020
UPID
US87-3941529
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-48 MULTI FAMILY · Richmond, VA
Zoning R-48 MULTI FAMILY · permitted uses
R-48 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
$39.9M
RESTAURANT
Est. value
$33.5M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
1963
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Units
124
Rooms
124
Lot
3.58 ac
Current owner
From public records · entity-resolved
Virginia Residence LLC
Entity
Mailing address
5014 16TH AVE #499, BROOKLYN, NY 11204-1482
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2020
—
Virginia Residence LLC
Dwell Richmond LLC
Special Warranty Deed
$32,280,000 · Arbor Commercial Funding I LLC
Nov 30, 2018
$3,846,620
Dwell Richmond LLC
Cedar Grove Ptrs V LLC
Grant Deed
$3,638,000 · Ef Sbc 2015-1 LLC
Dec 5, 2016
$5,100,000
Cedar Grove Partners V LLC
Hawthorne Hall Co LLC
Grant Deed
—
Sep 23, 2005
$3,000,000
Hawthorne Hall Company LLC
Bernstein Asoc Lc
Grant Deed
—
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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