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The Park at Forest Hill Apartments 3900 Forest Hill Ave 81 Unit Apartment Building For Sale Richmond, VA 23225
Investment Highlights
- HIGHLY SOUGHT AFTER LOCATION
- COMPELLING DEBT ASSUMPTION OPPORTUNITY
- GROW NOI WITH ANCILLARY INCOME
- GROWING DEMAND & LIMITED SUPPLY
- EXTENSIVE UPGRADES
- ADD VALUE WITH IN-UNIT WASHER/DRYERS & REDUCE PERSONNEL OVERHEAD
Executive Summary
The Park at Forest Hill is an 81-unit garden-style apartment community located in Richmond, Virginia’s desirable Forest Hill neighborhood, offering a stabilized investment with upside supported by strong occupancy and below-market in-place rents.
The property benefits from durable construction, efficient unit layouts, and proximity to neighborhood retail, parks, and major employment corridors, driving consistent renter demand in a supply- constrained submarket. Current ownership has invested more than half a million dollars in interior and exterior upgrades, but there are many value-add levers left to pull.
Future ownership can enhance revenue through operational improvements such as utility bill-back implementation, ancillary income programs, and conversion of non-revenue space to rentable units, all without heavy renovation risk.
Combined with favorable assumable financing and demonstrated rent growth within the immediate competitive set, The Park at Forest Hill presents a compelling opportunity to acquire a well-located Richmond asset with durable cash flow and clear pathways to NOI expansion.
*Contact agents for pricing
The property benefits from durable construction, efficient unit layouts, and proximity to neighborhood retail, parks, and major employment corridors, driving consistent renter demand in a supply- constrained submarket. Current ownership has invested more than half a million dollars in interior and exterior upgrades, but there are many value-add levers left to pull.
Future ownership can enhance revenue through operational improvements such as utility bill-back implementation, ancillary income programs, and conversion of non-revenue space to rentable units, all without heavy renovation risk.
Combined with favorable assumable financing and demonstrated rent growth within the immediate competitive set, The Park at Forest Hill presents a compelling opportunity to acquire a well-located Richmond asset with durable cash flow and clear pathways to NOI expansion.
*Contact agents for pricing
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Property Facts
| Sale Type | Investment | Lot Size | 2.49 AC |
| No. Units | 81 | Building Size | 55,452 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1978 |
| Building Class | C | ||
| Zoning | R-53 | ||
| Sale Type | Investment |
| No. Units | 81 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.49 AC |
| Building Size | 55,452 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1978 |
| Zoning | R-53 |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Deck
- Patio
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Security System
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 69 | - | 633 |
| 2+1 | 12 | - | 936 - 1,026 |
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Property Taxes
| Parcel Number | S000-2155-023 | Improvements Assessment | $7,383,643 CAD |
| Land Assessment | $1,095,496 CAD | Total Assessment | $8,479,139 CAD |
Property Taxes
Parcel Number
S000-2155-023
Land Assessment
$1,095,496 CAD
Improvements Assessment
$7,383,643 CAD
Total Assessment
$8,479,139 CAD
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The Park at Forest Hill Apartments | 3900 Forest Hill Ave
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