Active
618 S Laurel St
Richmond VA, 23220
$460,000
$218.84 per sqft
Active
2,102 sqft
Multi-family
Built in 1914
Fully leased Oregon Hill duplex! This pedestrian friendly neighborhood offers quick access to the main campus of VCU and the James River Park system. The property currently generates $3,600 / month with both leases good through June of 2025. Current rents are below market and could be raised if new owner is willing to renovate. Tenants pay all utilities on separately metered units. Plans have been submitted to the city for approval of an Accessory Dwelling Unit (ADU) to be built over a detached garage off the rear alley. Adding the ADU studio apartment and garage could generate an additional $1,500/month in rent. The ADU permitting and architectural drawings will convey with the sale. Proximity to VCU / MCV and downtown Richmond create exceptional demand and limited turnover with occasional vacancies quickly filled. Whether you seek a relatively passive cash flowing investment, or a project with plenty of potential to increase rents through renovations and/or the addition of an ADU, this Oregon Hill location is worth your consideration!
2422662
MLSⓇ ID
September 5, 2024
Listed
September 17, 2024
Updated
Map
618 S Laurel St
Richmond VA, 23220
Interior Features
Total Stories
2
Appliances
Gas Water Heater, Water Heater
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.08 Acres
Architectual Style
Row House, Two Story
Roof
Flat, Metal
Sewer
Public Sewer
School Information
High School
Thomas Jefferson
Elementary School
Fox
Other Property Details
Area Name
10 - Richmond
Taxes
$5,520
Tax Frequency
Annually
Days on Market
3
Garage
No
Parking
On Street
View
No
County
Richmond City
Water Source
Public
Pool
No
Listed by Shaheen Ruth Martin & Fonville, Michael Hanky, [email protected]
All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listings are ©2024 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.
Date last updated: 9/17/2024