Fan District Quadplex
2607 W Grace Street Richmond, VA 23220
2607 W Grace Street, Richmond, VA, 23220
$800,000
For Sale
$800,000
MULTI_FAMILY - Other - Richmond, VA
Property Size2,694 SF
Lot Size0.08 Acres
Price / SF$296.96
Days on Market181
Property Features for 2607 W Grace Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Rooms
- Basement
- Parking features
- Off Street, On 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
- Slate, Metal
- Architectural style
- Other
Listing agency
ERA Woody Hogg & Assoc
(804) 559-4644
Listed by
Bryan Boykin · License #0225099053
(804) 467-8637
Added: Jan 21 Updated: Jul 17 at 5:25PM Checked: Jul 21 at 8:06AM
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
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 | $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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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
