Colonial Multifamily with
2125 Grove Avenue Richmond, VA 23220
For Sale
$1,080,000
Pending
MULTI_FAMILY - Colonial - Richmond, VA
Property Size4,804 SF
Lot Size0.12 Acres
Days on Market48
Property Features for 2125 Grove Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Rooms
- Basement
- Interior features
- HighCeilings
- Fencing
- Fenced
- Appliances
- ElectricWaterHeater, GasWaterHeater
- Standard status
- Pending
- APN
- W000-0946-001
- Size
- 4,804 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 0043.58X0117.00 0000.000
- Tax Annual Amount
- 8280
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Number of units
- 4
- Building materials
- Brick, Drywall
- Roof type
- Slate
- Architectural style
- Colonial
Listing Agency:
Town & Country Sales and Mgmt
(804) 282-1515
Listed By:
Whit Brooks · License #0225205504
(804) 387-1654
Added: Jun 8
Changed: Jul 17
Last Checked: Jul 25 at 12:06AM
MLS# 2615441
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.
This colonial-style multifamily property features hardwood floors and 10-foot ceilings, with bay windows that add character throughout. A fenced rear courtyard provides an outdoor area attached to the home. The property received partial renovation in 2022, including a new flat roof with slate repair, brick pointing, fresh paint, and new windows.
The home is located in Richmond, Virginia, on Grove Avenue in the 23220 area of Richmond City. Lot size is listed at 0.1171 acres, with the building totaling 4,804 square feet. Appliances were replaced during the 2022–2023 timeframe.
For tenants and buyers seeking a well-maintained income property with meaningful recent improvements, the combination of new windows, roof and slate repairs, and updated appliances can reduce near-term replacement concerns. The interior design elements, including hardwood floors and high ceilings, support a tenant experience that feels more like a classic home than a basic rental unit. The fenced rear courtyard also offers practical space for residents while maintaining privacy.
The home is located in Richmond, Virginia, on Grove Avenue in the 23220 area of Richmond City. Lot size is listed at 0.1171 acres, with the building totaling 4,804 square feet. Appliances were replaced during the 2022–2023 timeframe.
For tenants and buyers seeking a well-maintained income property with meaningful recent improvements, the combination of new windows, roof and slate repairs, and updated appliances can reduce near-term replacement concerns. The interior design elements, including hardwood floors and high ceilings, support a tenant experience that feels more like a classic home than a basic rental unit. The fenced rear courtyard also offers practical space for residents while maintaining privacy.
Key Highlights
- Colonial‑style home built in 1910 with slate roof and high ceilings
- Public water and public sewer service
- Partially renovated in 2022 with new flat roof, slate repair, brick pointing, fresh paint, and new windows
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 | $96.8k | $20.16 |
| − Vacancy | −$6.3k | −$1.31 |
| EGI | $90.6k | $18.85 |
| − OpEx | −$27.2k | −$5.65 |
| NOI | $63.4k | $13.19 |
4,804 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$905.5K
$792.3K – $1.06M
NOI $63,387 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$850.2K
$743.9K – $991.9K
NOI $59,514 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$1.11M
$971.2K – $1.29M
NOI $77,692 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Colonial-style income property with 10-foot ceilings, hardwood floors, and recent roof, window, and appliance updates.
Where is this quadplex located?
The property is located at 2125 Grove Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Colonial‑style home built in 1910 with slate roof and high ceilings; Public water and public sewer service; Partially renovated in 2022 with new flat roof, slate repair, brick pointing, fresh paint, and new windows
