Richmond, VA, is an excellent choice for astute investors looking for rental properties. This booming tourist city has affordable real estate prices, many landlord-friendly policies, and a growing economy.
Coupled with a growing population, the magic formula above is key to your rental business's success. Yet, it's lacking one key ingredient: the perfect property.
Real estate investing always begins with finding a well-priced property in an up-and-coming area. Read on to explore the most promising real estate hotspots in Richmond, VA.
Carytown
If you're looking to explore every option for Richmond, VA, property investment, Carytown has it all. This bustling neighborhood has a promising mix of commercial properties, apartments, new developments, and older homes.
It's a popular choice for young professionals and university students. It's home to some of the city's most exciting shops and restaurants.
Carytown offers something for every investor, but you need to act fast. You can still find affordably priced properties in this neighborhood, although prices are on the rise.
The Fan District
The Fan District is another popular choice for those wishing to profit from the student housing real estate trend, as it's close to Virginia Commonwealth University.
It's a sought-after community with charming Victorian homes, tree-lined avenues, and many green spaces. Turn-of-the-century row homes and detached homes offer charm and appeal for families and young professionals, too.
Many galleries, theaters, and music venues contribute to the wonderful appeal of The Fan District, and it also boasts an excellent selection of shops, bars, and restaurants.
Church Hill
Church Hill is another historic Richmond gem, located on a hill overlooking the city. Apart from glorious views, the area boasts many opportunities to invest in Richmond, Virginia.
It's a prime location for house flipping, with many charming, well-priced 19th-century homes in need of a little TLC.
Church Hill checks all the boxes whether you're interested in short- or long-term rental properties. Both locals and tourists flock here to enjoy the restaurants, parks, and historic landmarks.
Scott's Addition
Once an industrial area, Scott's Addition is a relatively recent entry into the residential real estate scene.
It's become one of the city's most popular entertainment districts. As such the neighborhood is packed with distilleries, breweries, and restaurants.
Single-family homes are in short supply here, but you'll find many new condos and apartments suited to young professionals. Plus you could uncover opportunities to profit from commercial real estate investments.
Maximizing Your Richmond Real Estate Investing Ambitions
You need professional help to thrive as a Richmond real estate investor. These experts can help you find the most profitable properties in the best neighborhood and manage them for the best results.
PMI Presidential can assist you at every stage of your real estate investing journey. Our owner/operator has a lifetime of experience in the Richmond, VA, housing market and decades of experience managing investment properties.
We offer the full range of property management services to ensure your property's profitability. We make property management in Richmond, VA, a breeze. Find out how and start your investment adventure today.
