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417 W Grace St 5 Unit Apartment Building $2,303,020 CAD ($460,604 CAD/Unit) 5.83% Cap Rate Richmond, VA 23220
Investment Highlights
- 5 Fully Occupied Units
- Commercial NNN Lease
- Part Seller-Financing Available
- Just off I-64 and 300 ft to the new Costar Center
- Renovated
Executive Summary
Fully Occupied Mixed-Use Investment Opportunity, at VCU's most prominent and innovative hub, centrally located in a vibrant, pedestrian-oriented location, walking distance to campus, shops, restaurants and mass transit. The building was completely renovated in 2015, blending historic charm with modern upgrades, making for comfortable and durable living spaces, that feature large windows, tall ceilings, exposed brick and beautiful hardwood floors throughout All kitchens feature granite countertops, stainless-steel appliances and washers and dryers in all units. There is opportunity to add value and increase rental income, as this location continues to grow. The commercial restaurant space is in excellent condition and equipped with a 15' stainless hood, exhaust system, gas stove, large walk-in refrigerator, grease trap, and sprinkler system. The restaurant lease is NNN and has 3 years remaining. Up to 60% Seller Financing is Available.
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$173,021
|
$28.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$173,021
|
$28.22
|
| Taxes |
$11,205
|
$1.83
|
| Operating Expenses |
$30,654
|
$5.00
|
| Total Expenses |
$41,859
|
$6.83
|
| Net Operating Income |
$131,162
|
$21.39
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $173,021 |
| Annual Per SF | $28.22 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $173,021 |
| Annual Per SF | $28.22 |
| Taxes (CAD) | |
|---|---|
| Annual | $11,205 |
| Annual Per SF | $1.83 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $30,654 |
| Annual Per SF | $5.00 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $41,859 |
| Annual Per SF | $6.83 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $131,162 |
| Annual Per SF | $21.39 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Tub/Shower
- Views
- Deck
- Handrails
Site Amenities
- 24 Hour Access
- Security System
- Bicycle Storage
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $4,446 CAD | - |
| 2+2 | 1 | $2,323 CAD | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | W000-0214-004 | Total Assessment | $1,585,329 CAD |
| Land Assessment | $284,617 CAD | Annual Taxes | $11,205 CAD ($1.83 CAD/SF) |
| Improvements Assessment | $1,300,712 CAD | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
W000-0214-004
Land Assessment
$284,617 CAD
Improvements Assessment
$1,300,712 CAD
Total Assessment
$1,585,329 CAD
Annual Taxes
$11,205 CAD ($1.83 CAD/SF)
Tax Year
2026 Payable 2026
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417 W Grace St
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