$2,500,000
$2,600,000
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425 E Broadway Hopewell, VA 23860
24,514 SqFt
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
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Bought with NON MLS OFFICE