2863 Hull St, Richmond, VA 23224

Building Details

Year Built

1928

Listing agent Amanda Hardesty Show Phone

Listing office a***@hardestyhomesllc.com Show Phone

Listing date Apr 24, 2026

Source Elliman

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Overview

This is a rare value-add opportunity to acquire a fully renovated 7-unit multifamily building strategically positioned on the high-visibility Hull Street commercial corridor. The property is zoned B-3 and totals approximately 3,218 square feet. It features six studio apartments with full kitchens and private bathrooms, plus one additional guest suite. All units were updated in 2020. With a stabilized gross potential income of approximately $98,856 annually, investors can realize immediate upside by leasing the three current vacancies at market rates. The offering is uniquely enhanced by the inclusion of the adjacent lot at 2861 Hull St, providing significant potential for future subdivision or ground-up development. Currently operated with landlord-paid utilities, there is a clear path to further increasing Net Operating Income through the implementation of sub-metering or a RUBS billing program, making this a premier multifaceted asset in a rapidly growing Richmond corridor. The property is bikeable with a score of 50, car-dependent with a score of 28, and has some transit options with a score of 36.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Richmond

County

Richmond City

State

Virginia

Longitude

-77.4603872

Latitude

37.5107658

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FAQs

What type of property is this?

Apartment building - Fully renovated 7-unit building with development potential in Richmond, VA.

Where is this apartment building located?

The property is located at 2863 Hull St Richmond, VA.

What is the asking price?

The asking price for this property is $889,000.

What are key features of this property?

This property features: Fully renovated 7‑unit multifamily building (updated in 2020) on high‑visibility Hull Street commercial corridor.; Stabilized gross potential income of approximately $98,856 annually with immediate upside by leasing current vacancies at market rates.; Includes adjacent lot at 2861 Hull St, offering potential for future subdivision or ground‑up development.