Hopewell, VA 23860,425 E Broadway

$2,500,000

Est. payment /mo

$2,600,000

3.8%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

425 E Broadway Hopewell, VA 23860

24,514 SqFt

SOLD DATE : 10/15/2021

Key Details

Sold Price $2,500,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 24,514 sqft

Price per Sqft $101

MLS Listing ID 2116646

Sold Date 10/15/21

Style Garden Home

HOA Y/N No

Year Built 1960

Lot Size 1.210 Acres

Acres 1.21

Property Description

Sunrise Apartments in downtown Hopewell, VA is comprised of 39 fully-leased townhouses and garden-style apartments with a projected net operating income of $185,720 based on the current rental income and market expenses.

The apartment underwent a recent refurbishment in 2017. Since then, the property has continued to increase rental rates and maintain high occupancy.

These properties are also located along E Broadway in City Point within a few blocks of the James River, the state of the art Appomattox Regional Library, shops, and restaurants. Nearby amenities include the Petersburg National Battlefield-City Point, the Old City Point Waterfront Park, and the City Point History Museum. I-95 and I-295 are also easily accessible and provide connectivity to other destinations in Central Virginia and beyond.

Hopewell is also the home of several large employers including the Honeywell Corporation, Evonik Industries, Green Plains Inc., and the WestRock Paper Mill.

Location

State VA

County Hopewell

Area 56 - Hopewell

Interior

Heating Hot Water

Cooling Central Air

Exterior

Roof Type Asphalt,Flat

Topography Level

Handicap Access Accessibility Features

Building

Lot Description Level

Building Description Brick, Multi-Tenant,No Elevators

Sewer Sanitary

Water Public

Architectural Style Garden Home

Structure Type Brick

Others

Tax ID 078-0335

Ownership Investment

Financing Conventional

Read Less

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


Central Virginia Regional MLS (CVR MLS)
Listed by One South Realty Group, LLC
Bought with NON MLS OFFICE
agent

Tiffany Hite Stevens

Agent

+1(804) 467-8433

GET MORE INFORMATION

Name
Phone*
Message