1207 W 47th St Richmond, VA, 23225
$ 2,375,000Bedrooms Baths0.0 Sq 13,920
for $2,375,000. This 13,920 square foot building was built in 1940 on a lot size of 0.5200 Acre(s).
One South Commercial is pleased to present for sale the Parkway Apartments at 1207 & 1209 W 47th Street. Located in Richmond's Forest Hill Terrace neighborhood, this listing is a fully renovated multifamily property. The eighteen unit apartment building consists of nine 2B/1B units, eight 2B/2B units and one 1B/1B unit. Among the many residential amenities are included water/trash utilities, onsite laundry, and pre-wiring for FiOS. Off-street parking is also provided in an area at the rear of the building. 2015 Renovation and 100% Occupancy - In addition to having a history of 100% occupancy, the property underwent a complete historic tax credit renovation in 2015 including HVAC, plumbing, electrical, kitchens, bathrooms, flooring, and windows. The current rental rates are well below market and there is significant room for increases. This factor, its record of full occupancy, and the property's recent renovation make the fully stabilized Parkway Apartments an excellent opportunity for a buyer looking to invest in this burgeoning submarket of South Richmond.
Cooling System Central Air Heat Pump
Water Source Community Water
Lot Description Level/Flat
Road Frontage City Street
List By Thomas E Rosman
One South Realty Group, Llc
- Monthly Principal & Interest
- Monthly Property Taxes
- Monthly Home Insurance
Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Commerical listings in Richmond, VA
Average List Price $1,090,936
Percent of Sale Price 54 %
About Richmond, VA
12 %Since 2002
$ 42,736 Median Income
33.62 Median Age
21 % Households with Children