1012 W Franklin ST new Save Request In-Person Tour Request Virtual Tour
Richmond,VA 23220
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 8,296 sqft
Price per Sqft $265
MLS Listing ID 2525661
Style Tri-Level
Construction Status Actual
HOA Y/N No
Year Built 1900
Annual Tax Amount $14,712
Tax Year 2025
Lot Size 4,599 Sqft
Acres 0.1056
Property Sub-Type Quadruplex
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.
Location
State VA
County Richmond City
Area 10 - Richmond
Direction GPS
Rooms
Basement Full,Finished
Interior
Interior Features Ceiling Fan(s),High Ceilings,Skylights,Cable TV
Window Features Leaded Glass,Skylight(s)
Appliance Electric Water Heater
Exterior
Parking Features Detached
Garage Spaces 1.0
Fence None
Roof Type Metal
Porch Rear Porch,Deck,Front Porch
Garage Yes
Building
Lot Description Level
Story 4
Sewer Public Sewer
Water Public
Architectural Style Tri-Level
Level or Stories Three Or More,Multi/Split
Structure Type Brick,Drywall,Other,Stone
Construction Status Actual
Schools
Elementary Schools Fox
Middle Schools Dogwood
High Schools Thomas Jefferson
Others
Tax ID W000-0470-024
Ownership Individuals