1615 W Grace St, Richmond, VA 23220
Richmond triplex in the Fan District with strong rental potential.
- Added:
- Apr 24, 2026
- Days on Market:
- 50
- Last Refresh:
- Apr 24 at 5:47 pm
Property Features for 1615 W Grace St
General Information
- Standard status
- Active
- Size
- 3,687 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1904
Listing agent John Fehr (804) 955-9428
Listing office (804) 955-9428
Listing date Apr 24, 2026
Source Elliman
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 John Fehr
HighLights
- Prime Fan District location with a walk score of 95, close to amenities.
- Triplex with three occupied apartments offering strong rental potential.
- Historic 1904 Victorian‑inspired rowhouse with 3,687 square feet.
- Recent upgrades including a recently installed TPO roof and two tankless water heaters.
- Fenced backyard with a private deck and 2 off‑street parking spaces.
- Located in Richmond, ranked as a Top 10 U.S. Home buying Hot Spot for 2026.
Overview
Local 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 | $74.3k | $20.16 |
| − Vacancy | −$4.8k | −$1.31 |
| EGI | $69.5k | $18.85 |
| − OpEx | −$20.8k | −$5.65 |
| NOI | $48.6k | $13.19 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Richmond City
- State
- Virginia
- Longitude
- -77.4575689
- Latitude
- 37.5535293