The Park at Forest Hill Apartments
EXCELLENT LOCATION
Marketing description
The Park at Forest Hill is an 81-unit garden-style apartment community located in Richmond, Virginia’s desirable Forest Hill neighborhood, offering a stabilized investment with upside supported by strong occupancy and below-market in-place rents.
The property benefits from durable construction, efficient unit layouts, and proximity to neighborhood retail, parks, and major employment corridors, driving consistent renter demand in a supply-constrained submarket. Current ownership has invested more than half a million dollars in interior and exterior upgrades, but there are many value-add levers left to pull.
Future ownership can enhance revenue through operational improvements such as utility bill-back implementation, ancillary income programs, and conversion of non-revenue space to rentable units, all without heavy renovation risk.
Combined with favorable assumable financing and demonstrated rent growth within the immediate competitive set, The Park at Forest Hill presents a compelling opportunity to acquire a well-located Richmond asset with durable cash flow and clear pathways to NOI expansion.
Investment highlights
HIGHLY SOUGHT AFTER LOCATION
GROWING DEMAND & LIMITED SUPPLY
COMPELLING DEBT ASSUMPTION OPPORTUNITY
EXTENSIVE UPGRADES
GROW NOI WITH ANCILLARY INCOME
ADD VALUE WITH IN-UNIT WASHER/DRYERS
REDUCE PERSONNEL OVERHEAD
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