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Remnant Church Purchases Multifamily Asset At 2700 Stuart Avenue In Richmond For $1.1M
SOLD
$1,100,000
Virginia
See Similar DealsMultiFamily6,840 SF
Sold 06/09/2025
SOLD
Remnant Church Purchases Multifamily Asset At 2700 Stuart Avenue In Richmond For $1.1M
2700 Stuart Avenue
See Similar DealsMultiFamily6,840 SF
Sold 06/09/2025
Summary
VIRGINIA
Asset Type:MultiFamily
Price Per Square Foot:$160
Total Square Footage:6,840 SF
Transaction Type:Sale
The multifamily asset located at 2700 Stuart Avenue, Richmond, Virginia, has a sale price of $1,100,000. The property encompasses 6,840 square feet with a price per square foot of $161.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,100,000
- Address: 2700 Stuart Avenue
- Market: Richmond, VA
- Square Footage: 6,840
- Price per Square Foot: $161
- Buyer: Remnant Church
- Seller: Braille Circulation Library
- brokers: Jeffrey Cooke & Reilly Marchant - Cushman & Wakefield
Jeffrey Cooke and Reilly Marchant of Cushman & Wakefield represented the parties in this transaction, facilitating the sale between Remnant Church and Braille Circulation Library.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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