301 S Granby Street, Richmond, VA 23220

Property Description

This is a recently renovated, 13-unit property located adjacent to Richmond’s highly desired Fan Neighborhood. Conveniently located in the heart of the city, the property is an appealing housing option for a large swath of individuals ranging from students to young professionals. The property was renovated in 2019 and consists of all two-bedroom, one-bathroom layouts with finishes including granite countertops, stainless steel appliances, and newly finished bathrooms. Tenants can enjoy off street parking, in-unit washer and dryers, and an outdoor gathering space with a grill located in the rear of the property. Electricity for the units is individually metered. Tenants pay a monthly fee of $10 for trash removal and water is charged back to the tenants on a RUBS system. The most recent unit to be leased is rented for $1450/month. Based on this proven increase in rent, all units can obtain the same monthly rate moving forward and thus opening up large potential value for the next property owner. 301 South Granby St is a fantastic opportunity for any investor looking to aggressively expand their portfolio in the Richmond market or enter the market with true presence.