Updated Multifamily Property For
2608 East Marshall Street Richmond, VA 23223
2608 East Marshall Street, Richmond, VA, 23223
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For Sale
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Multifamily property with short term rental potential.
Property Size1,380 SF
Price / SF$344.20
Days on Market54
Property Features for 2608 East Marshall Street
General Information
- Standard status
- Active
- Size
- 1,380 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1814
Listing Agency
One South Commercial
(804) 353-0009
Listed by
Justin Sledd · License #VA 0225191850
Source
Crexi
Added: May 26 Checked: Jul 17 at 1:53 pm
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
Investment Insights
Based on property information with market context.
This 1,380 square foot multifamily property offers flexible opportunities for short-term rental or owner occupancy. It features modern updates and has demonstrated strong seasonal growth as an Airbnb. The property includes one unit with two bathrooms and another unit with one bathroom.
Key Highlights
- Strong seasonal growth Airbnb.
- Flexible opportunity: short‑term rental or owner‑occupant.
- Enjoy modern updates throughout the 1,380 SF living space.
Local Financial Insights For Apartment 5plus
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 | $32.8k | $23.76 |
| − Vacancy | −$1.7k | −$1.24 |
| EGI | $31.1k | $22.52 |
| − OpEx | −$14.0k | −$10.14 |
| NOI | $17.1k | $12.39 |
1,380 SF · lease $23.76/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$244.2K
$213.7K – $284.9K
NOI $17,096 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.8K
$279.0K – $372.0K
NOI $22,318 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Short term rental property - Multifamily property with short term rental potential.
Where is this short term rental property located?
The property is located at 2608 East Marshall Street Richmond, VA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Strong seasonal growth Airbnb.; Flexible opportunity: short‑term rental or owner‑occupant.; Enjoy modern updates throughout the 1,380 SF living space.
