For Sale
$1,436,000

6313 Morningside DrRichmond, VA 23226

Four Class A Single Family Homes, 5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a portfolio of four Class A single-family homes located in Richmond, Virginia's desirable West End, specifically within Henrico County. The portfolio boasts a total asking price of $1,436,000, offering a compelling 5.00% capitalization rate. Currently, all four properties are occupied, generating a combined gross monthly rent of $8,675, with leases extending through at least July 2025, ensuring immediate cash flow and minimal vacancy risk. Individual property addresses include 6313 Morningside Dr, 1313 Wembly Rd, 6415 Millhiser Ave, and 7302 Harlow Rd, all within the 23226 and 23229 zip codes. This represents a significant value proposition, with a market value estimated at $1,557,000, providing immediate equity upon acquisition. The portfolio is ideal for both seasoned investors seeking to expand their holdings in a prime market and new investors looking for a turnkey entry point into the Richmond real estate market. Detailed financial information, including a complete rent roll and twelve-month financial statement (T-12), is readily available upon request. While the portfolio is offered as a complete package, individual properties are also available for separate purchase. This presents a rare opportunity to acquire high-quality, income-producing assets in a highly sought-after Richmond neighborhood.

Highlights

  • $1,436,000 asking price for a portfolio of four Class A single-family rental homes.
  • 5.00% cap rate.
  • Four units located in Richmond, VA's desirable West End, Henrico County.
  • All properties are currently occupied with leases extending into August 2025, generating a combined gross monthly rent of $8,675.

Property Details for 6313 Morningside Dr

Property type
Residential income homes
Class
A
Units
4

Location Insight

City
Richmond
County
Henrico
State
Virginia
Latitude
37.5937889
Longitude
-77.5110438
6313 Morningside Dr, Richmond, Virginia

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6313 Morningside Dr
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