Four-Unit Byrd Park
For Sale
$799,000
2004 Rosewood Ave, Richmond, VA 23220
Four separately metered residences with private laundry, individual water heaters, and rear off-street parking.
Property Size2,382 SF
Price / SF$335.43
Days on Market47
Property Features for 2004 Rosewood Ave
General Information
Standard status
Active
Size
2,382 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Rdph
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
in-unit washer/dryer
Building Details
Year Built
1924
Buildings
1
Listing Agency:
Providence Hill Real Estate
Listed By:
Alejandro King · License #0225265706
(804) 503-7218
Source:
Onedreamrealty
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 7 at 2:33PM
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
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Investment Insights
Based on property information with market context.
This four-unit residential property includes four two-bedroom, one-bath residences, each with separate water, gas, and electric metering. Every unit has an in-unit washer and dryer and its own water heater, while rear off-street parking serves the building. The property is currently occupied by established tenants, and the building has been master-keyed for centralized access.
Located at 2004 Rosewood Ave in Richmond’s Byrd Park neighborhood, the property is near parks, lakes, VCU, Carytown, restaurants, shops, Maymont, and the Carillon. Byrd Park includes approximately 200 acres of parkland and three lakes. Built in 1924, the quadplex offers a residential configuration with separately managed utilities and neighborhood access to outdoor and urban amenities.
Located at 2004 Rosewood Ave in Richmond’s Byrd Park neighborhood, the property is near parks, lakes, VCU, Carytown, restaurants, shops, Maymont, and the Carillon. Byrd Park includes approximately 200 acres of parkland and three lakes. Built in 1924, the quadplex offers a residential configuration with separately managed utilities and neighborhood access to outdoor and urban amenities.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- Separate water, gas, and electric meters for all four units
- Each residence includes an in‑unit washer/dryer and individual water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,430
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,600
$628.6K
Cap Rate 7%
$449,000
$449.0K
Cap Rate 9%
$349,222
$349.2K
Market Conditions
NOI Build-Up for 2,382 SF
Gross rent
$48.0K $20.16/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$44.9K $18.85/SF
− OpEx
−$13.5K −$5.65/SF
NOI
$31.4K $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%
$628,600
Cap Rate 7%
$449,000
Cap Rate 9%
$349,222
Alternative Uses
Best Use
Multifamily LT 5
$449.0K
$392.9K – $523.8K
NOI $31,430 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$421.6K
$368.9K – $491.8K
NOI $29,509 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$550.3K
$481.5K – $642.1K
NOI $38,523 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
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Business Placement
Demographics for 23220, VA
36,942
Population
16,561
Households
2.2
Avg Household Size
27
Median Age
59%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
7,696
Density / Sq Mi
$56,681
Median Household Income
$33,249
Median Earnings
$1,354
Median Rent
$468,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered residences with private laundry, individual water heaters, and rear off-street parking.
Where is this quadplex located?
The property is located at 2004 Rosewood Ave Richmond, VA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; Separate water, gas, and electric meters for all four units; Each residence includes an in‑unit washer/dryer and individual water heater
