Historic Petersburg Apartment Building For
For Sale
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23 W Old St, Petersburg, VA 23803
Five-unit apartment building with historic charm and modern upgrades.
Property Size10,858 SF
Price / SF$101.31
Days on Market191
Property Features for 23 W Old St
General Information
Standard status
Active
Size
10,858 SF
Property subtype
Multifamily
Zoning
B-3
Occupancy
100%
Investment Type
Value Add
Building Details
Year Built
1817
Buildings
1
Stories
3
Units
5
Listing Agency:
One South Commercial
Listed By:
Tom Rosman · License #VA 0225030879
(804) 539-3017
Source:
Crexi
Added: Apr 21
Changed: Oct 25
Last Checked: Oct 26 at 3:41PM
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 One South Commercial
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Investment Insights
Based on property information with market context.
Located in downtown Petersburg, the fully leased five-unit apartment building at 23-25 W Old Street offers a stabilized, income-producing asset. Constructed in 1817, the property features historic adaptive reuse with modern enhancements. The building encompasses nearly 11,000 square feet and includes five residences: four one-bedroom units and one two-bedroom unit. The apartments retain original architectural details such as high ceilings, oversized windows, and period craftsmanship, along with modern renovations. Select units have a history of short-term rental use. There is potential to expand by adding units on the third and fourth floors, increasing rental income. The property's location along W. Old Street offers potential for commercial application, particularly on the ground floor. The building is near North Sycamore Street and destinations such as Maria’s Old Town 21, Demolition Coffee, Croaker’s Spot, The Southside Depot, the Petersburg Area Art League, and Virginia State University. The property is somewhat bikeable with a bike score of 21 and car-dependent with a walk score of 19.
Key Highlights
- Fully leased, income‑producing five‑unit apartment building.
- Historic adaptive reuse property with original architectural details and modern renovations.
- Expansion potential to add units on the third and fourth floors.
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
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Business Placement
Demographics for 23803, VA
44,377
Population
19,826
Households
2.2
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
72.2 sq mi
ZIP Area
615
Density / Sq Mi
$55,820
Median Household Income
$35,122
Median Earnings
$1,132
Median Rent
$208,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment building with historic charm and modern upgrades.
Where is this apartment building located?
The property is located at 23 W Old St Petersburg, VA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully leased, income‑producing five‑unit apartment building.; Historic adaptive reuse property with original architectural details and modern renovations.; Expansion potential to add units on the third and fourth floors.
