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Want to buy some apartment buildings in Whitcomb? ($1,985,000)
08/26/2016 8:00 AM by John M
1901 – 1909 Whitcomb Street is 64 unit multi-family investment property. This Garden Low-Rise is professionally managed and has maintained historically high occupancy. Only minutes from Downtown Richmond, it is an ideal property for investors. Contact agent for more details.
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Does it come with security?
I certainly hope they deal with the in the conditions in this YouTube vid before selling it:
https://youtu.be/nFBRQ239WrI
no
Uhmm, wow. Is this an RRHA property, or just predominantly low income/section eight? I always thought it was public housing? Can’t imagine how complicated the public to private transition would be if the current tenants have income based leases.
@Robbie Summey – There was a point (about three to five years ago) where it was possible to buy one bedroom apartments in church hill for 25k to 45k a unit in 4-20 unit buildings/complexes. Usually, there were some minor to moderate maintenance issues, but at the higher end of that range they had hardwood floors, dishwashers, and central air (I.e. They were pretty nice). It’s all economy of scale
@Lee – privately owned, not RRHA
@ John M – Is it owned or managed by Great Richmond Rentals/KrS Holdings? I don’t want to badmouth people, but they managed our rental property for the previous owners and they absolutely ran the places into the ground. One building had garbage piled CHEST DEEP in the backyard! Also pretty sure they leased to anyone with a pulse so they could evict and pocket the deposit. I know they used to charge a substantial leasing fee/placement fee out of the deposit AUTOMATICALLY, just for moving folks in – somewhere in the realm of $100-250. I thought that was absolutely shitty
Lots 25 and 26 in the plan of Bowling Green. I’d buy if I had the money, tear them down, wait for the demolition of Whitcomb Court and the construction of its replacement and build something nicer. We have way too many apartments on this side of town helping to keep the concentration of poverty. It isn’t just the projects.