BEDS0
BATHS
SQUARE FEET8,296
MLS#2525661
STATUSPending
PROPERTY TYPEMulti Unit - Multiple
Property Description
1012 W. Franklin St is one of Richmond's most iconic Greystone/Granite buildings, ideally located in the popular Fan District just steps from VCU. This 8,298 sq. ft. property features SIX units, 18 bedrooms, 12 baths, plus 2 off-street parking spaces and a rear garage currently used as a workshop. The building has been fully renovated with modern systems: central air/heat pumps, updated plumbing and electric, sprinkler system, fire alarm monitoring, double-paned windows, in-unit laundry, and a newer roof (85% metal, 15% membrane). The property is fully leased and generates a monthly income of $14,375 and has been owned for 23 years with 100% occupancy. Notably, Unit 5 offers 1,516 sq. ft. with 3 bedrooms/2 baths ($2,505/mo) and Unit 6 offers 1,482 sq. ft. with 4 bedrooms/2 baths ($2,740/mo). With no rent increases this year, there is strong upside potential for rent growth. Don't miss out on this rare opportunity to acquire a turn-key, cash-flowing asset in one of Richmond's most desirable neighborhoods conveniently located steps to all of the amenities the Fan has to offer.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Full, Finished
Garage: 1
Home Style: Tri-Level
Lot Size: 0.11 Acres
Roof Type: Metal
Stories: 4.0
Taxes: $14,712
Year Built: 1900
Amenities
Ceiling Fan(s)
High Ceilings
Skylights
Cable TV
Feature Descriptions
Appliances: Electric Water Heater
Days on Site: 172
Exterior: Brick, Drywall, Other, Stone
Fencing: None
Lot: Level
Parcel#: W000-0470-024
Parking: Detached, Garage, Off Street
Patio/Porch: Rear Porch, Deck, Front Porch
Sewer: Public Sewer
Units: 4
Water: Public
Window: Leaded Glass, Skylight(s)
Local Schools
High School: Thomas Jefferson
Middle School: Dogwood
Elementary School: Fox
Listed By / Shown By
Listed By
Agency Name: The Mueller Group LLC
Shown By
Agency Title: Joyner Fine Properties
Agency Phone: 804-270-9440
Estimate Your Payment
Estimated Payment
$ 12,992.06 per month $11,124.40 Principal & Interest $1,226.00 Property Tax $641.67 Homeowner's Insurance
1012 W Franklin Street | MLS# 2525661
This multi-family property located at 1012 W Franklin Street, Richmond, VA 23220 is currently listed for sale with an asking price of $2,200,000. Search Richmond real estate on www.joynerfineproperties.com today.