Fan District Quadplex
2607 W Grace Street Richmond, VA 23220
For Sale
$800,000
MULTI_FAMILY - Other - Richmond, VA
Property Size2,694 SF
Lot Size0.08 Acres
Price / SF$296.96
Days on Market189
Property Features for 2607 W Grace Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street, Off Street
Patio and Porch features
Porch
Interior features
BedroomOnMainLevel
Appliances
GasWaterHeater
Standard status
Active
APN
W000-1169-011
Size
2,694 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0025.00X0145.00 0000.000
Tax Annual Amount
8700
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Building materials
Brick, Block, Drywall, Plaster
Roof type
Metal, Slate
Architectural style
Other
Listing Agency:
ERA Woody Hogg & Assoc
(804) 559-4644
Listed By:
Bryan Boykin · License #0225099053
(804) 467-8637
Added: Jan 21
Changed: Jul 28
Last Checked: Jul 29 at 3:06PM
MLS# 2601771
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.
Investment Insights
Based on property information with market context.
Located in Richmond's Fan District, the property at 2607 W Grace St is a 1910 brick quadplex. This multifamily property contains four one-bedroom apartments. The building has 2,694 square feet of space across two stories, plus a partial basement. The property is situated on a 0.0832-acre lot and includes off-street parking for two cars. The property's location provides access to restaurants, museums, shopping, and nightlife. This location-driven asset is suitable for investors seeking stable cash flow potential and appreciation.
Key Highlights
- 1910 brick quadplex with four 1‑bedroom apartments
- Approximately 2,694 sq ft across two stories, plus a partial basement
- Brick exterior with front porch and off‑street parking for two cars
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 | $54.3k | $20.16 |
| − Vacancy | −$3.5k | −$1.31 |
| EGI | $50.8k | $18.85 |
| − OpEx | −$15.2k | −$5.65 |
| NOI | $35.5k | $13.19 |
2,694 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$507.8K
$444.3K – $592.5K
NOI $35,547 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$476.8K
$417.2K – $556.3K
NOI $33,375 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$622.4K
$544.6K – $726.1K
NOI $43,568 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Classic 1910 brick quadplex in Richmond's desirable Fan District.
Where is this quadplex located?
The property is located at 2607 W Grace Street Richmond, VA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1910 brick quadplex with four 1‑bedroom apartments; Approximately 2,694 sq ft across two stories, plus a partial basement; Brick exterior with front porch and off‑street parking for two cars
