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$1,275,000
Est. payment /mo
5,692 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,692 sqft
Price per Sqft $223
Subdivision Barton Heights
MLS Listing ID 2602856
Style Two Story
Construction Status Approximate
HOA Y/N No
Year Built 1969
Annual Tax Amount $8,964
Tax Year 2025
Lot Size 10,476 Sqft
Acres 0.2405
Property Sub-Type Multi Family
Property Description
2000 Lamb Avenue presents a compelling opportunity to acquire a stabilized, value-add multifamily asset in an improving Richmond submarket. The property consists of eight (8) apartment units and has strong historical occupancy, offering immediate cash flow with upside remaining. Ownership has completed substantial capital improvements, including full renovations of six (6) of the eight units, exterior painting, window replacement as needed and paving of the rear parking lot, significantly reducing near-term capital expenditure needs. The renovated units feature modern finishes in the kitchen & bathroom and in-unit washer and dryers, a highly desirable amenity that supports strong tenant demand and retention. Despite the recent improvements, the property still offers a clear value-add opportunity through the renovation of the remaining two units. Additionally, current rents remain slightly below market, providing investors the ability to capture further upside through strategic rent growth as units turn and market conditions continue to strengthen. Located in an area of Richmond that continues to see reinvestment and neighborhood improvement, 2000 Lamb Avenue benefits from solid fundamentals, strong occupancy, and long-term appreciation potential. This asset is well suited for investors seeking a balance of stable income today with meaningful upside tomorrow.
Location
State VA
County Richmond City
Community Barton Heights
Area 30 - Richmond
Exterior
Roof Type Built-Up
Garage No
Building
Story 2
Sewer Public Sewer
Water Public
Architectural Style Two Story
Level or Stories Two
Structure Type Brick,Block
Construction Status Approximate
Schools
Elementary Schools Overby-Sheppard
Middle Schools Henderson
High Schools John Marshall
Others
Tax ID N000-0409-003
Ownership Individuals
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Listed by One South Commercial LLC
Nearby Locations
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