Contemporary Duplex Under
For Sale
$718,000
Pending
117 W 10th Street, Richmond, VA 23224
MULTI_FAMILY - Contemporary - Richmond, VA
Property Size2,764 SF
Lot Size0.07 Acres
Days on Market64
Property Features for 117 W 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
R-63
Parking features
Garage, Off Street, Assigned
Window features
Screens
Patio and Porch features
Porch
Interior features
CeilingFans, GraniteCounters, HighCeilings, BathInPrimaryBedroom, WalkInClosets
Appliances
ElectricWaterHeater
Subdivision
Manchester Gardens
Elementary school
Blackwell
Middle school
River City
High school
Armstrong
Directions
From downtown: Take Manchester Bridge south, exit onto Commerce Road and take right onto Porter Street. Take left turn onto W. 10th. Property is the first duplex on your left.
Standard status
Pending
APN
S0000041062
Size
2,764 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
MANCHESTER GARDENS L32 S1
Tax Annual Amount
2664
Legal Description
MANCHESTER GARDENS L32 S1
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Building materials
Drywall, Frame, HardiplankType
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
Monroe Properties
(804) 643-3098
Listed By:
Christopher Blake · License #0225061328
(804) 363-9177
Added: Jun 3
Changed: Aug 1
Last Checked: Aug 5 at 6:06PM
MLS# 2615260
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
Scheduled for completion in November 2026, this contemporary duplex at 117 W 10th Street in Richmond City, VA is currently under construction. The home is planned as two separate units with distinct bedroom and bath layouts: the downstairs unit includes two bedrooms and two baths with LVP floors and quartz tops, while the upstairs unit includes three bedrooms and three baths with wood floors in the living areas, ceramic tile in the bathrooms, and quartz kitchen countertops.
Interior features include ceiling fans, high ceilings, walk-in closets, granite counters, and a primary suite bath. An electric water heater supports hot water needs. The property includes a porch, a flat roof, and is constructed with drywall, frame, and HardiplankType siding materials. Parking is provided via a garage plus off-street, assigned spaces.
Utilities are public, with public water and public sewer service. The lot size is 0.069 acres and the property size is 2,764 square feet.
Interior features include ceiling fans, high ceilings, walk-in closets, granite counters, and a primary suite bath. An electric water heater supports hot water needs. The property includes a porch, a flat roof, and is constructed with drywall, frame, and HardiplankType siding materials. Parking is provided via a garage plus off-street, assigned spaces.
Utilities are public, with public water and public sewer service. The lot size is 0.069 acres and the property size is 2,764 square feet.
Key Highlights
- Scheduled completion in November 2026 for this under‑construction duplex
- 0.069‑acre lot and 2,764 SF total building size
- Downstairs unit: 2 bedrooms, 2 baths with LVP floors and quartz tops
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.7k | $20.16 |
| − Vacancy | −$3.6k | −$1.31 |
| EGI | $52.1k | $18.85 |
| − OpEx | −$15.6k | −$5.65 |
| NOI | $36.5k | $13.19 |
2,764 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$521.0K
$455.9K – $607.8K
NOI $36,470 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$489.2K
$428.0K – $570.7K
NOI $34,242 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$638.6K
$558.8K – $745.0K
NOI $44,700 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Explore this area
Business Placement
Demographics for 23224, VA
39,468
Population
18,201
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
80%
High-School Grad
11.6 sq mi
ZIP Area
3,402
Density / Sq Mi
$49,263
Median Household Income
$36,275
Median Earnings
$1,268
Median Rent
$189,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Under-construction contemporary duplex with two units featuring quartz countertops, modern flooring, and upgraded interior finishes.
Where is this duplex located?
The property is located at 117 W 10th Street Richmond, VA.
What is the asking price?
The asking price for this property is $718,000.
What are key features of this property?
This property features: Scheduled completion in November 2026 for this under‑construction duplex; 0.069‑acre lot and 2,764 SF total building size; Downstairs unit: 2 bedrooms, 2 baths with LVP floors and quartz tops
