Maywill Apartments
Richmond, VA 23230
The Offering
Summary
- List Price $8,175,000
- Product Type Multifamily
- Proposed Gross SF 204,300 SF
- Proposed Multifamily Rentable/Sellable SF 186,845 SF
- Proposed Commercial SF 3,500 SF
- Zoning PUP/POD
- Proposed Levels 5 + 2 Podium
- Proposed Units 268
- Proposed Parking 317
- Proposed Unit Mix 23 - Studio, 199 - 1BR/1BA, 46 - 2BR/2BA
Investment Summary
Feldman Ruel is pleased to present the Maywill Apartments Development located in Richmond, Virginia. The subject property is a PUP- and POD-approved development site in the Scott’s Addition 2.0/Westwood submarket. The proposed development consists of 268 multifamily units and 3,500 square feet of ground-level retail, with a robust amenity package, including an outdoor saltwater pool, fitness center, business center, pet wash station, and media/game room. The conveying entitlements will offer a potential buyer a streamlined path to permit while still allowing for modification of the schematic design to new unit size and mix specifications.
Investment Highlights
• 268-Unit Multifamily Development Site with 3,500 SF of Commercial Space
• 6.61% Return on Cost | 2.02x Equity Multiple
• Conveys with Approved PUP and POD
• Mix of Studio, One-, and Two-Bedroom Units
• Adjacent to Established Libbie Mill Midtown and Scotts Addition Neighborhoods
• Transit-Oriented Development Site with Easy Access to I-95, I-64 and SR-195
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