2034 W Grace Street, Richmond, VA 23220
MULTI_FAMILY - Colonial - Richmond, VA
- Added:
- Jun 6, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 7 at 6:06 am
Property Features for 2034 W Grace Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street, Garage, On Street, Assigned
- Interior features
- BayWindow, GraniteCounters
- Standard status
- Active
- APN
- W000-0911-047
- Size
- 5,703 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 0031.75X0140.00 0000.000
- Tax Annual Amount
- 9456
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1908
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick, Drywall, Mixed, Plaster
- Roof type
- Metal, Rubber
- Architectural style
- Colonial
Listing agent Chris Small License #0225108723 (804) 350-0879
Listing office PARK 27 3103 Ellwood Avenue, Richmond, VA (804) 353-1250
Listing date Jun 6, 2026
Copyright © 2026 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Built in 1908, this Colonial‑style brick duplex offers historic architectural character.
- Two‑family layout with two 4‑bedroom, 2‑bath units.
- Listed at approximately 5,000 SF with a 4,445 SF lot.
- Public utilities: public water and public sewer.
- Roof materials include metal and rubber; parking includes garage, off‑street, on‑street, and assigned spaces.
- Pre‑market improvements include plaster repair, interior/exterior painting, updated lighting, landscaping, pressure washing, and cleaning.
Overview
The duplex is located in Richmond’s Fan neighborhood at 2034 W. Grace Street, within a reported walkability score of 97 out of 100. The listing describes the area as walkable to neighborhood restaurants and shopping, as well as to VCU, museums, and downtown Richmond.
For tenants, investors, or owner-occupants, the configuration supports either full-property ownership or living in one unit while renting the other. The listing also notes that one new lease is already in place, with the upper unit available as an additional rental opportunity or for owner-occupancy. With unit separation and residential amenities already incorporated into the layout, the property can be a practical fit for a long-term hold in a core urban rental market.
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 | $115.0k | $20.16 |
| − Vacancy | −$7.5k | −$1.31 |
| EGI | $107.5k | $18.85 |
| − OpEx | −$32.2k | −$5.65 |
| NOI | $75.2k | $13.19 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Richmond City
- State
- Virginia
- Longitude
- -77.462525
- Latitude
- 37.557034
