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Historic Petersburg Apartment Building For Sale

23 W Old St, Petersburg, VA 23803

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For Sale

$1,100,000

Five-unit apartment building with historic charm and modern upgrades.

Type:Investment

Property size:

11,000 SF

Price / SF:

$100/SF

HighLights

Fully leased, income‑producing five‑unit apartment building.
Historic adaptive reuse property with original architectural details and modern renovations.
Expansion potential to add units on the third and fourth floors.
Prime location on W. Old Street with potential for commercial application.
Successful history of short‑term rental use in select units.
Excellent proximity to popular destinations and Virginia State University.

We can help!

Listing Contact

Thomas Rosman

Learn more

For Sale

$1,100,000

Five-unit apartment building with historic charm and modern upgrades.

Type:Investment

Property size:

11,000 SF

Price / SF:

$100/SF

Added:: Apr 22, 2026
Days on Market:: 51
Last Refresh:: Apr 22 at 2:37 am

Property Features for 23 W Old St

General Information

Standard status: Active
Size: 11,000 SF
Property subtype: Investment

Building Details

Year Built: 1817

We can help!

Listing Contact

Thomas Rosman

Listing agent Thomas Rosman License #0225211714

Listing office One South Commercial

Listing date Apr 22, 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 One South Commercial

HighLights

Fully leased, income‑producing five‑unit apartment building.
Historic adaptive reuse property with original architectural details and modern renovations.
Expansion potential to add units on the third and fourth floors.
Prime location on W. Old Street with potential for commercial application.
Successful history of short‑term rental use in select units.
Excellent proximity to popular destinations and Virginia State University.

Overview

Located in downtown Petersburg, the fully leased five-unit apartment building at 23-25 W Old Street offers a stabilized, income-producing asset. Constructed in 1817, the property features historic adaptive reuse with modern enhancements. The building encompasses nearly 11,000 square feet and includes five residences: four one-bedroom units and one two-bedroom unit. The apartments retain original architectural details such as high ceilings, oversized windows, and period craftsmanship, along with modern renovations. Select units have a history of short-term rental use. There is potential to expand by adding units on the third and fourth floors, increasing rental income. The property's location along W. Old Street offers potential for commercial application, particularly on the ground floor. The building is near North Sycamore Street and destinations such as Maria’s Old Town 21, Demolition Coffee, Croaker’s Spot, The Southside Depot, the Petersburg Area Art League, and Virginia State University. The property is somewhat bikeable with a bike score of 21 and car-dependent with a walk score of 19.

Location Intelligence

Current Use by Public Records

Short term rental ...

Suggested Use

Location Insight

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Local Demand

City: Petersburg
County: Petersburg
State: Virginia
Longitude: -77.4060067
Latitude: 37.2332696

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For sale
Apartment buildings
VA
Petersburg
23803
23 W Old St

What type of property is this?

Apartment building - Five-unit apartment building with historic charm and modern upgrades.

Where is this apartment building located?

The property is located at 23 W Old St Petersburg, VA.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Fully leased, income‑producing five‑unit apartment building.; Historic adaptive reuse property with original architectural details and modern renovations.; Expansion potential to add units on the third and fourth floors.