Fully Leased Multifamily
For Sale
$640,000
113 Old Church Street, Petersburg, VA 23803
Four residential units combine recent renovations, new roofs, and central heating and cooling systems.
Property Size3,720 SF
Price / SF$172.04
Days on Market25
Property Features for 113 Old Church Street
General Information
Standard status
Active
Size
3,720 SF
Property subtype
General Commercial
Occupancy
100%
Financials
Asking Price
$640,000
Gross Income
$75,168
Additional Details
Multifamily Units
4
Amenities
3
Building Details
Year Built
1918
Buildings
3
Listing Agency:
One South Commercial LLC
(434) 981-3146
Listed By:
Ann Schweitzer · License #0225211714
(434) 981-3146
Source:
Xome
Added: Jul 11
Changed: Aug 3
Last Checked: Aug 3 at 5:53AM
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 One South Commercial LLC
Investment Insights
Based on property information with market context.
This multifamily offering combines three residential properties with four units, including a duplex at 709 Kirkham Street. The portfolio totals 3,720 square feet and is fully leased. Recent capital work includes new roofs across the properties, central heating and cooling systems, and substantial interior renovations. One property dates to 1918, adding established building stock to the offering.
The portfolio is located in Petersburg, Virginia, and is offered as a package. Its existing lease-up, updated building systems, and completed interior work provide a defined operating profile for multifamily ownership. The properties include 709 Kirkham Street, 113 South Old Church Street, and 252 St. Matthews Street.
The portfolio is located in Petersburg, Virginia, and is offered as a package. Its existing lease-up, updated building systems, and completed interior work provide a defined operating profile for multifamily ownership. The properties include 709 Kirkham Street, 113 South Old Church Street, and 252 St. Matthews Street.
Key Highlights
- Four‑unit residential portfolio offered as one package
- Fully leased across three Petersburg properties
- 3,720 square feet of total property size
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 | $75.0k | $20.16 |
| − Vacancy | −$4.9k | −$1.31 |
| EGI | $70.1k | $18.85 |
| − OpEx | −$21.0k | −$5.65 |
| NOI | $49.1k | $13.19 |
3,720 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$701.2K
$613.6K – $818.1K
NOI $49,084 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$658.4K
$576.1K – $768.1K
NOI $46,085 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$859.4K
$752.0K – $1.00M
NOI $60,161 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 23803, VA
44,377
Population
19,826
Households
2.2
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
72.2 sq mi
ZIP Area
615
Density / Sq Mi
$55,820
Median Household Income
$35,122
Median Earnings
$1,132
Median Rent
$208,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four residential units combine recent renovations, new roofs, and central heating and cooling systems.
Where is this multifamily property located?
The property is located at 113 Old Church Street Petersburg, VA.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Four‑unit residential portfolio offered as one package; Fully leased across three Petersburg properties; 3,720 square feet of total property size
