Multifamily Portfolio with
For Sale
Contact for pricing
Pending
516 North 2nd Street, Richmond, VA 23219
Seven residences and a first-floor commercial suite are fully occupied.
Property SizeContact for details
Days on Market144
Property Features for 516 North 2nd Street
General Information
Standard status
Pending
Property subtype
Retail, Multifamily
Occupancy
100%
Financials
Asking Price
$180,000
Cap Rate
7.08%
Gross Income
$74,160
Units
Unit Mix
6 x efficiency studio, 1 x 1BR/1BA
Multifamily Units
7
Additional Details
Floor
1
Building Details
Tenancy
Multi
Listing Agency:
Snipes Properties
(804) 240-1120
Listed By:
Timea Harisova · License #VA 0225196582
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 11:38PM
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 Snipes Properties
Investment Insights
Based on property information with market context.
This multifamily offering combines seven residential condominium units with a commercial storefront on the first level. Six residences are efficiency studios measuring approximately 430 square feet each, while the remaining condominium includes one bedroom, one bathroom, 1,015 square feet, and a loft area. Appliances convey with the units.
The property is located on North 2nd Street in Richmond’s Jackson Ward and is adjacent to the Hippodrome theater. MCV and VCU are within walking distance. The residential and commercial spaces are currently rented, with reported capitalization rates of approximately 5.5% for the residential portion and 7.08% for the commercial unit. The portfolio may be acquired together or by individual unit.
The property is located on North 2nd Street in Richmond’s Jackson Ward and is adjacent to the Hippodrome theater. MCV and VCU are within walking distance. The residential and commercial spaces are currently rented, with reported capitalization rates of approximately 5.5% for the residential portion and 7.08% for the commercial unit. The portfolio may be acquired together or by individual unit.
Key Highlights
- Seven residential condos plus one first‑level commercial storefront
- Six efficiency studios of approximately 430 square feet each
- One 1‑bedroom, 1‑bath condo with 1,015 square feet and a loft area
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 23219, VA
5,307
Population
3,488
Households
1.5
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
1.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$62,533
Median Household Income
$46,509
Median Earnings
$1,439
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Seven residences and a first-floor commercial suite are fully occupied.
Where is this multifamily property located?
The property is located at 516 North 2nd Street Richmond, VA.
What are key features of this property?
This property features: Seven residential condos plus one first‑level commercial storefront; Six efficiency studios of approximately 430 square feet each; One 1‑bedroom, 1‑bath condo with 1,015 square feet and a loft area
