2400 Barton Avenue, Richmond, VA 23222

Property Description

2400 Barton Avenue presents an opportunity to acquire an 18-unit apartment community in Richmond's rapidly evolving Northside neighborhood. Situated prominently on the corner of Barton Avenue and East Graham Road, the property benefits from excellent visibility, abundant natural light, and a larger land footprint than many comparable apartment communities in the area. Since acquiring the property, ownership has invested more than $300,000 in capital improvements, enhancing the property's condition and positioning it for continued growth. The expansive corner parcel provides additional open space and flexibility, creating a valuable amenity for residents today while offering future ownership the opportunity to explore additional uses of the excess land, subject to applicable approvals. Residents enjoy convenient access to the thriving Brookland Park Boulevard corridor, home to neighborhood favorites such as The Smoky Mug, along with an expanding collection of restaurants, coffee shops, breweries, and locally owned retailers that continue to drive Northside's transformation into one of Richmond's most dynamic neighborhoods. The current rent roll demonstrates stable occupancy while also presenting a compelling opportunity for future income growth. Comparable renovated two-bedroom apartments in the immediate area are achieving rents of approximately $1,450 per month, providing investors with a clear path to increasing revenue through strategic unit turnover and continued asset management. Combining a desirable all two-bedroom unit mix, substantial recent capital investment, a prominent corner location, additional land area, and proximity to one of Richmond's most active neighborhood commercial districts, 2400 Barton Avenue offers an attractive opportunity to acquire a well-positioned multifamily asset with both strong in-place income and meaningful upside potential.