Italianate Three-Unit
New
For Sale
$599,900
101 W Clay Street, Richmond, VA 23220
ResidentialIncome, Richmond, VA
Property Size3,044 SF
Lot Size0.06 Acres
Price / SF$197.08
Days on Market6
Property Features for 101 W Clay Street
General Information
Property type
Residential
Property subtype
Triplex
Zoning description
R-6
Rooms
Basement
Patio and Porch features
Porch
Interior features
HighCeilings
Fencing
Fenced
Appliances
ElectricWaterHeater
Lot features
Corner Lot
Elementary school
Carver
Middle school
Albert Hill
High school
Thomas Jefferson
Directions
Two blocks North of East Broad Street at the intersection of North Adams Street and West Clay Street.
Subdivision
10 - Richmond
Standard status
Active
APN
N000-0120-022
Size
3,044 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0030.94X0089.21 0000.000
Tax Annual Amount
5100
Legal Description
0030.94X0089.21 0000.000
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1859
Floors in Building
2
Number of units
3
Building materials
Brick, Frame, Plaster
Architectural style
Other
Listing Agency:
Shaheen Ruth Martin & Fonville
(804) 288-2100
Listed By:
Corby Hicks · License #0225219826
(804) 937-7540
Added: Oct 12
Changed: Oct 16
Last Checked: Oct 17 at 12:06AM
MLS# 2624901
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.
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Investment Insights
Based on property information with market context.
Built in 1859, this brick triplex contains three apartments: a 1,522-square-foot, two-bedroom unit on the first floor; a 1,522-square-foot, three-bedroom unit on the second floor; and a 981-square-foot, two-bedroom apartment in the English basement. Interior features include high ceilings, wide plank wood floors, detailed moldings, marble mantelpieces, and original pocket doors. The exterior retains a bracketed cornice and ornamental ironwork, with a porch and fenced grounds. Public water and sewer serve the property.
The property is in Richmond’s Jackson Ward, near employers including Dominion, CoStar, Altria, and Markel, as well as VCU and VCU Health. Nearby cultural and recreation destinations named for the area include The National, Dominion Energy Center, Brown’s Island, parks, and the James River. The property has three residential units and is described as fully occupied.
The property is in Richmond’s Jackson Ward, near employers including Dominion, CoStar, Altria, and Markel, as well as VCU and VCU Health. Nearby cultural and recreation destinations named for the area include The National, Dominion Energy Center, Brown’s Island, parks, and the James River. The property has three residential units and is described as fully occupied.
Key Highlights
- Three apartments: two 1,522‑square‑foot units and one 981‑square‑foot unit
- Unit mix includes two 2‑bedroom apartments and one 3‑bedroom apartment
- Built in 1859; Italianate rowhouse with Greek Revival influence
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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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,106
Businesses Nearby
Explore this area
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 apartments offer a mix of two- and three-bedroom layouts in a brick rowhouse with historic interior details.
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: Three apartments: two 1,522‑square‑foot units and one 981‑square‑foot unit; Unit mix includes two 2‑bedroom apartments and one 3‑bedroom apartment; Built in 1859; Italianate rowhouse with Greek Revival influence
