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    1012 W Franklin St Richmond, VA 23220

    For Sale
    $2,200,000

    MULTI_FAMILY - Other - Richmond, VA

    Property size:
    8,296 SF
    Lot size:
    0.11 Acres
    Days on Market:
    21
    Last Refresh:
    Dec 15 at 8:06 am

    Property Features for 1012 W Franklin St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Skylight(s)
    Rooms
    Basement
    APN
    W000-0470-024
    Parking features
    Garage, Off Street
    Patio and Porch features
    Deck, Porch
    Interior features
    CeilingFans, HighCeilings, Skylights, CableTv
    Appliances
    ElectricWaterHeater
    Size
    8,296 SF
    Lot size
    0.11 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    4
    Number of units
    4
    Building materials
    Brick, Drywall, Stone
    Roof type
    Metal
    Architectural style
    Other

    The Mueller Group LLC (804) 731-1010 [email protected]

    Listing agent Teresa Mueller (804) 748-5547 License #0225209384

    Listing date Nov 25, 2025

    MLS# 2525661 Listing URL

    Copyright © 2025 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Fan District Multifamily Investment Property

    Located in Richmond's Fan District, this 8,298 square foot multifamily property at 1012 W. Franklin St. contains six units with a total of 18 bedrooms and 12 baths. The building has been fully renovated with modern systems, including central air/heat pumps, updated plumbing and electric, a sprinkler system, fire alarm monitoring, and double-paned windows. In-unit laundry is available. The roof is newer, consisting of 85% metal and 15% membrane. The property includes two off-street parking spaces and a rear garage currently used as a workshop. The property is fully leased and generates a monthly income of $14,375. Unit 5 offers 1,516 sq. ft. with 3 bedrooms and 2 baths, and rents for $2,505 per month. Unit 6 offers 1,482 sq. ft. with 4 bedrooms and 2 baths, and rents for $2,740 per month. Situated steps from VCU, this property is located in one of Richmond's most desirable neighborhoods. The lot size is 0.1056 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.454222
    Latitude
    37.550682

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    FAQs

    What type of property is this?
    Apartment building - Fully leased, renovated six-unit building in Richmond's Fan District.
    Where is this apartment building located?
    The property is located at 1012 W Franklin St Richmond, VA.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: - Fully leased, cash-flowing property generating $14,375 monthly income with 100% occupancy for 23 years.; - Located in the highly desirable Fan District, steps from VCU and local amenities.; - Fully renovated with modern systems including central air/heat pumps, updated plumbing and electric, sprinkler system, and in-unit laundry.
    (804) 748-5547
    Request Owner's contact information
    1012 W Franklin St Richmond, VA 23220
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    Richmond, VA 23220
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1012 W Franklin St Richmond, VA 23220
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