1. Virginia
  2. Richmond
  3. 1012 W Franklin St
$2,200,000

1012 W Franklin St, Richmond, VA 23220

  • 8,296 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1900
  • Property Lot Size Icon4,600sqft lot
  • Property Parking Icon 1 car garage
  • Property Price Per Square Feet Icon $265/sqft
  • Property List Date Icon Listed 20 hours ago

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 6 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 in the heart of all of the amenities that the Fan has to offer.

Listing Status:
Active
Listing Office:
The Mueller Group LLC : (804) 748-5547
Listing Agent:
Teresa Mueller : (202) 306-2674
MLS ID:
2525661
  • General: Ceiling Fan(s)High CeilingsSkylightsCable TV
  • Appliances: Electric Water Heater
  • Basement: FullFinished

This listing courtesy of Teresa Mueller, The Mueller Group LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

William Fox Elementary School

2300 Hanover Ave, Richmond, VA, 23220

Grades KG-5

0.80 miles away

B

Binford Middle School

1701 Floyd Ave, Richmond, VA, 23220

Grades 6-8

0.46 miles away

R

Richmond Alternative

119 W Leigh St, Richmond, VA, 23220

Grades 6-12

0.72 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.