Marcus & Millichap Sells Bradford Manor Apartments In Richmond Virginia For $4.2M

Bradford Manor Apartments is a 56-unit multifamily property located at 2027 Fairfield Avenue in Richmond, VA. The property was sold for $4.2 million, translating to a price per unit of $75,000. This transaction represents a value-add deal, particularly relevant as it comes with upside potential following the expiration of the Low-Income Housing Tax Credit (LIHTC).

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,200,000
• Units: 56
• Price Per Unit: $75,000
• Broker: Kristina Ermyakina - Marcus & Millichap

Kristina Ermyakina from Marcus & Millichap represented the transaction, facilitating the sale of the multifamily property and contributing to the overall success of this deal in the Richmond market.