2024 Quadplex with
For Sale
$1,300,000
1422 Bainbridge St, Richmond, VA 23224
Four two-bedroom, two-bath residences offer wood flooring, high ceilings, natural light, and off-street parking.
Property Size5,262 SF
Price / SF$247.05
Days on Market52
Property Features for 1422 Bainbridge St
General Information
Standard status
Active
Size
5,262 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$2,149
Amenities
natural wood flooring
9 foot ceilings
off street parking
walk out balconies
Building Details
Year Built
2024
Listing Agency:
Providence Hill Real Estate
Listed By:
Caleb Boyer · License #0225225333
(804) 955-8668
Source:
Riverfoxrealty
Added: Aug 25
Changed: Oct 2
Last Checked: Oct 5 at 8:51PM
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 Providence Hill Real Estate
Investment Insights
Based on property information with market context.
Completed in 2024, this 5,262 SF quadplex contains four residences, each configured with 2 bedrooms and 2 bathrooms. The units average 898 SF and feature natural wood flooring, 9-foot ceilings, abundant natural light, and off-street parking. Three of the four residences include walk-out balconies.
The property is located at 1422 Bainbridge St in Richmond, VA, in the heart of Manchester. A bakery is directly across the street, while downtown Richmond’s new Costar headquarters is accessible by a 12-minute bike ride. The combination of consistent unit layouts, contemporary construction, and nearby neighborhood amenities provides a clearly defined multifamily asset.
The property is located at 1422 Bainbridge St in Richmond, VA, in the heart of Manchester. A bakery is directly across the street, while downtown Richmond’s new Costar headquarters is accessible by a 12-minute bike ride. The combination of consistent unit layouts, contemporary construction, and nearby neighborhood amenities provides a clearly defined multifamily asset.
Key Highlights
- Built in 2024 with four 2 Bed/2 Bath units
- 5,262 SF quadplex with units averaging 898 sq ft.
- Natural wood flooring and 9 foot ceilings throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,431
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,388,620
$1.4M
Cap Rate 7%
$991,871
$991.9K
Cap Rate 9%
$771,456
$771.5K
Market Conditions
NOI Build-Up for 5,262 SF
Gross rent
$106.1K $20.16/SF
− Vacancy
−$6.9K −$1.31/SF
EGI
$99.2K $18.85/SF
− OpEx
−$29.8K −$5.65/SF
NOI
$69.4K $13.19/SF
Area
Richmond, VA
Vacancy
6.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,388,620
Cap Rate 7%
$991,871
Cap Rate 9%
$771,456
Alternative Uses
Best Use
Multifamily LT 5
$991.9K
$867.9K – $1.16M
NOI $69,431 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$931.3K
$814.9K – $1.09M
NOI $65,188 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,099 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 23224, VA
39,468
Population
18,201
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
80%
High-School Grad
11.6 sq mi
ZIP Area
3,402
Density / Sq Mi
$49,263
Median Household Income
$36,275
Median Earnings
$1,268
Median Rent
$189,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Quadplex - Four two-bedroom, two-bath residences offer wood flooring, high ceilings, natural light, and off-street parking.
Where is this quadplex located?
The property is located at 1422 Bainbridge St Richmond, VA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Built in 2024 with four 2 Bed/2 Bath units; 5,262 SF quadplex with units averaging 898 sq ft.; Natural wood flooring and 9 foot ceilings throughout
