RICHMOND, Va. — By utilizing an unconventional real estate maneuver, a local firm is looking to bring over 100 affordable homes to the East End. The investment arm of John B. Levy & Co. recently purchased the 130-unit Villas at Oakwood apartments for $10.7 million and is planning to convert those units into for-sale condominiums priced at around $150,000 apiece. Located at 3526 E. Richmond Road, the 56-year-old complex was initially built as apartments before being “broken” and turned into condos around 2007, said John B. Levy & Co.’s Bram Levy. Read more on Richmond Bizsense.
(<i>Mike Platania photo via Richmond BizSense</i>)
The new owners of the Villas at Oakwood are planning to turn rental units into for-sale condominiums priced at around $150,000 apiece. <br/><br/>
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