Italianate Triplex with Original
For Sale
$599,900
101 W Clay Street, Richmond, VA 23220
Three occupied apartments retain period woodwork, pocket doors, marble mantelpieces, and ornamental exterior ironwork.
Property Size3,044 SF
Price / SF$197.08
Days on Market15
Property Features for 101 W Clay Street
General Information
Standard status
Active
Size
3,044 SF
Property subtype
Residential Income
Zoning
R-6
Occupancy
100%
Site & Location
Neighborhood
Jkwd
Units
Unit Mix
1 x 2BR (1st floor - 1522sf), 1 x 3BR (2nd floor - 1522sf), 1 x 2BR (English basement - 981sf)
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,100
Amenities
High Ceilings
Building Details
Building Size
3,044 SF
Year Built
1859
Stories
2
Units
3
Construction
Italianate rowhouse with Greek Revival influence
Listing Agency:
Shaheen Ruth Martin & Fonville
(804) 288-2100
Listed By:
Corby Hicks · License #0225219826
(804) 937-7540
Source:
Freedom1realty
Added: Oct 12
Changed: Oct 26
Last Checked: Oct 26 at 3:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shaheen Ruth Martin & Fonville
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Investment Insights
Based on property information with market context.
Built in 1859, this three-unit Italianate rowhouse includes Greek Revival influences and retains architectural features such as wide-plank floors, detailed moldings, marble mantelpieces, pocket doors, tall windows, a bracketed cornice, and ornamental ironwork. The first-floor apartment offers 1,522 square feet and two bedrooms; the second-floor apartment has 1,522 square feet and three bedrooms. A 981-square-foot, two-bedroom apartment occupies the English basement. The property is fully occupied and zoned R-6.
At 101 W Clay Street in Richmond’s Jackson Ward, the property is near employers and institutions including Dominion, CoStar, VCU, VCU Health, the Capitol, and Commonwealth of Virginia offices. Nearby cultural and recreation destinations named include The National, Dominion Energy Center, Brown’s Island, parks, and the James River.
At 101 W Clay Street in Richmond’s Jackson Ward, the property is near employers and institutions including Dominion, CoStar, VCU, VCU Health, the Capitol, and Commonwealth of Virginia offices. Nearby cultural and recreation destinations named include The National, Dominion Energy Center, Brown’s Island, parks, and the James River.
Key Highlights
- Fully occupied triplex with three apartments
- Built in 1859; Italianate rowhouse with Greek Revival influence
- 1st‑floor apartment: 1,522sf, 2BR
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,165
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,300
$803.3K
Cap Rate 7%
$573,786
$573.8K
Cap Rate 9%
$446,278
$446.3K
Market Conditions
NOI Build-Up for 3,044 SF
Gross rent
$61.4K $20.16/SF
− Vacancy
−$4.0K −$1.31/SF
EGI
$57.4K $18.85/SF
− OpEx
−$17.2K −$5.65/SF
NOI
$40.2K $13.19/SF
Area
Richmond, VA
Vacancy
6.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,300
Cap Rate 7%
$573,786
Cap Rate 9%
$446,278
Alternative Uses
Best Use
Multifamily LT 5
$573.8K
$502.1K – $669.4K
NOI $40,165 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$538.7K
$471.4K – $628.5K
NOI $37,710 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$703.3K
$615.4K – $820.5K
NOI $49,229 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,053
Businesses Nearby
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Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments retain period woodwork, pocket doors, marble mantelpieces, and ornamental exterior ironwork.
Where is this triplex located?
The property is located at 101 W Clay Street Richmond, VA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Fully occupied triplex with three apartments; Built in 1859; Italianate rowhouse with Greek Revival influence; 1st‑floor apartment: 1,522sf, 2BR
