Press Releases
Marcus & Millichap Brokers $4.2M Sale of 56-Unit Apartment Community in Richmond, Virginia
April 20, 2026
RICHMOND, Va., April 20, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Bradford Manor Apartments, a 56-unit apartment complex in Richmond, Virginia. The property sold for $4.2 million.
“This transaction presented a highly attractive value-add opportunity with significant upside,” said Kristina Ermyakina, associate investments. “With LIHTC restrictions now expired, the new ownership is well-positioned to execute a mark-to-market strategy and unlock meaningful revenue growth. Combined with the townhome-style unit configuration, the asset offers strong fundamentals and long-term investment potential.”
Ermyakina exclusively marketed the property on behalf of the seller and procured the private buyer.
Built in 1970, Bradford Manor Apartments is located at 2027 Fairfield Ave. The property consists of 56 two-bedroom, two-bathroom units, all of which have been renovated. It is located in Richmond’s East End, with access to downtown, nearby retail centers and Virginia Commonwealth University.
“This transaction presented a highly attractive value-add opportunity with significant upside,” said Kristina Ermyakina, associate investments. “With LIHTC restrictions now expired, the new ownership is well-positioned to execute a mark-to-market strategy and unlock meaningful revenue growth. Combined with the townhome-style unit configuration, the asset offers strong fundamentals and long-term investment potential.”
Ermyakina exclusively marketed the property on behalf of the seller and procured the private buyer.
Built in 1970, Bradford Manor Apartments is located at 2027 Fairfield Ave. The property consists of 56 two-bedroom, two-bathroom units, all of which have been renovated. It is located in Richmond’s East End, with access to downtown, nearby retail centers and Virginia Commonwealth University.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
