Renovated Four-Unit Apartment
3106 Stuart Avenue, Richmond, VA 23221
For Sale
New
$850,000
ResidentialIncome, Richmond, VA
Property Size2,842 SF
Lot Size0.08 Acres
Price / SF$299.09
Days on Market3
Property Features for 3106 Stuart Avenue
General Information
Property type
Property subtype
Zoning description
Appliances
Lot features
View
Elementary school
Middle school
High school
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
Keller Williams Realty
(804) 282-5901
Listed By:
Michael Ryan · License VA #0225045605
(804) 873-9333
Added: Nov 11
Changed: Nov 13
Last Checked: Nov 13 at 11:06PM
MLS# 2630456
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1923, this brick four-unit apartment property contains 2,842 square feet and sits on a 0.0832-acre lot. The building has four one-bedroom apartments, with three recently renovated. Public water and sewer serve the property.
Located at 3106 Stuart Avenue in Richmond’s Museum District, the property is near restaurants, shopping, and parks.
Located at 3106 Stuart Avenue in Richmond’s Museum District, the property is near restaurants, shopping, and parks.
Key Highlights
- Four one‑bedroom apartments in a 2,842‑square‑foot building
- Three units recently renovated
- Built in 1923
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,499
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,980
$750.0K
Cap Rate 7%
$535,700
$535.7K
Cap Rate 9%
$416,656
$416.7K
Market Conditions
NOI Build-Up for 2,842 SF
Gross rent
$57.3K $20.16/SF
− Vacancy
−$3.7K −$1.31/SF
EGI
$53.6K $18.85/SF
− OpEx
−$16.1K −$5.65/SF
NOI
$37.5K $13.19/SF
Area
Richmond, VA
Vacancy
6.50%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,980
Cap Rate 7%
$535,700
Cap Rate 9%
$416,656
Alternative Uses
Best Use
Multifamily LT 5
$535.7K
$468.7K – $625.0K
NOI $37,499 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$503.0K
$440.1K – $586.8K
NOI $35,208 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$656.6K
$574.5K – $766.0K
NOI $45,962 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 23221, VA
14,841
Population
7,776
Households
1.9
Avg Household Size
35
Median Age
76%
College-Educated
98%
High-School Grad
3.3 sq mi
ZIP Area
4,497
Density / Sq Mi
$97,006
Median Household Income
$61,616
Median Earnings
$1,480
Median Rent
$544,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three of the four one-bedroom apartments have undergone recent renovations.
Where is this quadplex located?
The property is located at 3106 Stuart Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four one‑bedroom apartments in a 2,842‑square‑foot building; Three units recently renovated; Built in 1923
