Renovated 2-Unit
New
For Sale
$410,000
2101 5th Ave, Richmond, VA 23222
Both vacant residences have two bedrooms, two full baths, updated kitchens, and access to outdoor living areas.
Property Size2,086 SF
Price / SF$196.55
Days on Market2
Property Features for 2101 5th Ave
General Information
Standard status
Active
Size
2,086 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Hpst
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
covered front porch
lower rear porch
upper rear balcony
expansive side and rear yards
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Beycome Brokerage Realty LLC
(804) 656-5007
Listed By:
The Elliott Real Estate Team
(804) 404-5566
Source:
Elliottreteam
Added: Oct 30
Last Checked: Oct 30 at 2:31PM
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 Beycome Brokerage Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two vacant residences, each with a two-bedroom, two-bath layout. Renovated kitchens and bathrooms complement original wood floors, large windows, and detailed interior trim. Kitchen features include peninsula seating and ample cabinetry. The property also has a covered front porch, a lower rear porch, and an upper-level balcony, along with substantial side and rear yard areas on a double lot.
Rear alley access is present, with the possibility of creating off-street parking. The adjacent parcel at 2105 5th Avenue is also offered for sale, either separately or in combination with this property.
Rear alley access is present, with the possibility of creating off-street parking. The adjacent parcel at 2105 5th Avenue is also offered for sale, either separately or in combination with this property.
Key Highlights
- Two‑unit duplex with two bedrooms and two full bathrooms in each residence
- Both residences are vacant
- Renovated kitchens and bathrooms, with original wood floors and substantial trim
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,524
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,480
$550.5K
Cap Rate 7%
$393,200
$393.2K
Cap Rate 9%
$305,822
$305.8K
Market Conditions
NOI Build-Up for 2,086 SF
Gross rent
$42.1K $20.16/SF
− Vacancy
−$2.7K −$1.31/SF
EGI
$39.3K $18.85/SF
− OpEx
−$11.8K −$5.65/SF
NOI
$27.5K $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%
$550,480
Cap Rate 7%
$393,200
Cap Rate 9%
$305,822
Alternative Uses
Best Use
Multifamily LT 5
$393.2K
$344.1K – $458.7K
NOI $27,524 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$369.2K
$323.0K – $430.7K
NOI $25,842 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$481.9K
$421.7K – $562.3K
NOI $33,736 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
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Business Placement
Demographics for 23222, VA
24,337
Population
11,762
Households
2.1
Avg Household Size
37
Median Age
32%
College-Educated
90%
High-School Grad
8.2 sq mi
ZIP Area
2,968
Density / Sq Mi
$58,105
Median Household Income
$37,137
Median Earnings
$1,181
Median Rent
$252,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both vacant residences have two bedrooms, two full baths, updated kitchens, and access to outdoor living areas.
Where is this duplex located?
The property is located at 2101 5th Ave Richmond, VA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and two full bathrooms in each residence; Both residences are vacant; Renovated kitchens and bathrooms, with original wood floors and substantial trim
