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Historic Richmond apartment building sells for $5.25M

The Parkwood was listed on National Register of Historic Places in 2016

//February 2, 2024//

The Parkwood is located at 3003 Parkwood Ave. Photo courtesy Lakeland Capital

The Parkwood is located at 3003 Parkwood Ave. Photo courtesy Lakeland Capital

The Parkwood is located at 3003 Parkwood Ave. Photo courtesy Lakeland Capital

The Parkwood is located at 3003 Parkwood Ave. Photo courtesy Lakeland Capital

Historic Richmond apartment building sells for $5.25M

The Parkwood was listed on National Register of Historic Places in 2016

// February 2, 2024//

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A 32-unit apartment building in Richmond sold for more than $5.52 million on Jan. 16, according to city property records.

Located at 3003 Parkwood Ave., The Parkwood was listed on the National Register of Historic Places in 2016. Built in 1941 and designed by well-known Richmond architects J. Binford Walford and O. Pendleton Wright, the building originally housed the Virginia Commission for the Blind (now the Virginia Department for the Blind and Vision Impaired) for about 40 years. It has one studio apartment, 28 one-bedroom units and three two-bedroom units, according to a spokesperson for the buyer.

Charleston, South Carolina-based multifamily investment company Lakeland Capital bought the property from 3003 Parkwood LLC. Lakeland plans to upgrade and repair the building.

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