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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13 comments
Does it come with security?
They sellin A-Block see now if folks wanted to really build up here’s ur start
After only a year? I guess selling it off is cheaper than performing the repairs that the low-income residents there have been asking for and getting ignored regarding for years.
If I were wealthy I would probably buy these so I could take advantage of those people as well, but that might not be a good idea since Leaders Of the New South – Community Council for Housing is working to have all concerns of those who make up the “high occupancy” addressed. It could become a nice property, but right now it’s a lemon in my humble opinion
“historically high occupancy” to me means that residents feel so fortunate to not be homeless that they stay regardless of any health and safety code violations or disregard to the VRLTA that comes with it
“ideal property for investors” to me means that low-income people are cash cows
I certainly hope they deal with the in the conditions in this YouTube vid before selling it:
https://youtu.be/nFBRQ239WrI
64 units. That comes out to $31,000 per unit. I’m pretty sure that there will be a lot of renovations needed. I see the apts still use window air conditioners, which would need to be upgraded to a central HVAC system. The overall safety of the area is a big issue. Perhaps if VCU bought it and made them into dorms.
no
Robbie Summey liked this on Facebook.
So are they planning on moving all the residents or….???
That would be a shame if it takes VCU to take over and kick the low-income residents out in order for that community to be considered inhabitable for “regular” folks.
Everyone knows each other in that community. There are no safety concerns. Of course some people will make assumptions based off demographics…
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.