Marcus & Millichap (NYSE: MMI) has announced the sale of Kingswood Cove, a 60-unit apartment property located in Richmond, VA, FOR $3,500,000 according to Brian C. Hosey, regional manager of the firm’s Washington, D.C. office.

Christopher Chadwick and Martin Mooradian, investment specialists in Marcus & Millichap’s Washington, D.C. office, had the exclusive listing to market the property on behalf of the seller and buyer, a limited liability company and a private investor.

Kingswood Cove is located at 6426 Elkhardt Road in Richmond, VA. The subject property sits on 3.5 acres and has maintained historically high occupancy rates. “The apartments are only a 15-minute drive South from Downtown Richmond offering the convenience of being close to downtown while allowing for residents to enjoy the quiet luxury of suburban living and quality schools” Christopher Chadwick said.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.