Brick Duplex Near
1119 W Grace Street Richmond, VA 23220
New
For Sale
$650,000
MULTI_FAMILY - Colonial - Richmond, VA
Property Size1,702 SF
Price / SF$381.90
Days on Market2
Property Features for 1119 W Grace Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Rooms
- Basement
- Parking features
- Assigned, Off Street
- Appliances
- ElectricWaterHeater, GasWaterHeater
- Standard status
- Active
- APN
- W0000614010
- Size
- 1,702 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 0027.06X0098.00 0000.000
- Tax Annual Amount
- 6036
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1925
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick, Drywall
- Roof type
- Slate, Shingle
- Architectural style
- Colonial
Listing Agency:
United Real Estate Richmond
(804) 359-9200
Listed By:
Jennie Guo · License #0225240192
(804) 821-8005
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 7:06AM
MLS# 2620136
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 brick duplex includes off-street parking and separate gas and electric meters, along with one shared water meter. Both units have central air and in-unit washer/dryer. The first-floor unit offers 2 full baths and extends into a finished basement. The second-floor unit includes 2 full baths.
The property is located near VCU and is described as within walking distance to campus. The second-floor unit is rented through November 30, 2026, and the first-floor unit is rented through September 30, 2026.
Each unit’s configuration supports independent utility metering, and both levels are maintained in sound, great condition per the remarks.
The property is located near VCU and is described as within walking distance to campus. The second-floor unit is rented through November 30, 2026, and the first-floor unit is rented through September 30, 2026.
Each unit’s configuration supports independent utility metering, and both levels are maintained in sound, great condition per the remarks.
Key Highlights
- Brick duplex built in 1925 in a colonial style with slate/shingle roof and drywall construction
- Separate gas and electric meters, plus one shared water meter; public water and public sewer
- Both units have central air and washer/dryer, with off‑street parking and assigned parking
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 | $34.3k | $20.16 |
| − Vacancy | −$2.2k | −$1.31 |
| EGI | $32.1k | $18.85 |
| − OpEx | −$9.6k | −$5.65 |
| NOI | $22.5k | $13.19 |
1,702 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$320.8K
$280.7K – $374.3K
NOI $22,457 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$301.2K
$263.6K – $351.4K
NOI $21,085 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$393.2K
$344.1K – $458.8K
NOI $27,525 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Brick duplex features off-street parking, central air, washer/dryer, and separate gas and electric meters.
Where is this duplex located?
The property is located at 1119 W Grace Street Richmond, VA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Brick duplex built in 1925 in a colonial style with slate/shingle roof and drywall construction; Separate gas and electric meters, plus one shared water meter; public water and public sewer; Both units have central air and washer/dryer, with off‑street parking and assigned parking
