Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1209 Wallace St Richmond, VA 23220

    Pending
    For Sale
    $300,000

    MULTI_FAMILY - Other - Richmond, VA

    Property size:
    2,496 SF
    Lot size:
    0.14 Acres
    Days on Market:
    15
    Last Refresh:
    Dec 5 at 2:06 am

    Property Features for 1209 Wallace St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    APN
    W000-0436-026
    Parking features
    On Street
    Patio and Porch features
    Porch
    Fencing
    Fenced
    Appliances
    GasWaterHeater
    Size
    2,496 SF
    Lot size
    0.14 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick, Plaster, WoodSiding
    Roof type
    Metal
    Architectural style
    Other

    Motley's Realty Services (804) 355-2100 [email protected]

    Listing agent Carly Hancock (804) 232-3300 License #0225238313

    Listing date Nov 21, 2025

    MLS# 2530376 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

    Renovated Quadplex Near VCU

    Located in the Wallace Manor neighborhood of Richmond, this renovated quadplex offers 2,496+/- square feet of living space. The property is walkable to VCU and minutes from Maymont Park, Hollywood Cemetery, and various dining, shopping, and entertainment options. The building contains four 1-bedroom, 1-bathroom units, each updated in 2025 with over $78,000 in renovations. The roof is approximately 5 years old. Situated on a 0.1435-acre lot, this property presents an opportunity for investors or owner-occupants seeking supplemental rental income. With two units on a month-to-month lease and two units vacant, the property offers strong rental potential in a desirable location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.458372
    Latitude
    37.541225

    Nearby Similar for Sale

    • $1,200,000
      0.14 Acres

      Historic Richmond Office Building Auction

      Iconic office building in Richmond's Central Business District.
      819 E Main St, Richmond, VA 23219
      View Details
    • New
      $599,950
      3,356 SF

      Modern Duplex in Richmond's Northside

      Renovated duplex with strong rental potential in thriving Richmond community.
      2111 North Ave, Richmond, VA 23222
      View Details
    • $495,000
      2,663 SF

      Richmond Duplex Near VCU Campus

      Duplex near VCU campus, offering flexibility for owners and tenants.
      615 Idlewood Ave, Richmond, VA 23220
      View Details
    • New
      $695,000
      2,764 SF

      New Construction Multifamily in Richmond

      New construction duplex near downtown Richmond, completion January 2026.
      905 Bainbridge St, Richmond, VA 23224
      View Details
    • New
      $554,700
      2,092 SF

      Northside Duplex with Income Potential

      Classic duplex in revitalized neighborhood with income potential.
      2938 Northumberland Ave, Richmond, VA 23220
      View Details
    • $695,000
      Pending

      New Construction Multifamily in Richmond

      New construction duplex in historic Manchester, Richmond, scheduled for completion.
      907 Bainbridge St, Richmond, VA 23224
      View Details

    FAQs

    What type of property is this?
    Quadplex - Updated quadplex near VCU, offering strong rental income potential.
    Where is this quadplex located?
    The property is located at 1209 Wallace St Richmond, VA.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: - Prime location walkable to VCU and close to Maymont Park, Hollywood Cemetery, and Richmond's dining/shopping/entertainment.; - Renovated quadplex with 2,496+/- SF and updates completed in 2025 totaling over $78,000.; - Four individual 1-bedroom, 1-bathroom units offering strong rental potential.
    (804) 232-3300
    Request Owner's contact information
    1209 Wallace St Richmond, VA 23220
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1209 Wallace St
    Richmond, VA 23220
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1209 Wallace St Richmond, VA 23220
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.