3114 Park Avenue, Richmond, VA 23221
- Added:
- Mar 28, 2026
- Days on Market:
- 103
- Last Refresh:
- Jul 8 at 9:06 pm
Property Features for 3114 Park Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street
- Interior features
- BedroomOnMainLevel
- Exterior features
- Storage
- Appliances
- ElectricWaterHeater
- Standard status
- Pending
- APN
- W000-1414-031
- Size
- 1,540 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LEE ANNEX L28 B7 0025.00X0140.00 0000.000
- Tax Annual Amount
- 5280
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1962
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick, Block, Plaster
- Roof type
- Asphalt
- Architectural style
- Other
- Additional Structures
- Storage
Listing agent Coleen Butler Rodriguez License #0225240251 (804) 873-9947
Listing office The Steele Group 6726 Patterson Ave, Richmond, VA (804) 282-3136
Listing date Mar 28, 2026
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.
HighLights
- 1962 duplex with 1/1 units up and 1/1 units down
- Large, deep lot with a storage shed in the back yard
- Private off‑alley parking for two cars; off‑street parking
- Updated bathrooms; each unit has a living room and kitchen
- New roof and gutters installed in 2026
- Public utilities: public water and public sewer
Overview
The property is located at 3114 Park Avenue in Richmond City, VA, in the Museum District. The listing notes the site is about one block to the central commercial triangle formed by Park Ave, Sheppard St, and Patterson Ave.
With two self-contained units, this configuration can support a rental setup or owner-occupancy with an additional income-producing apartment. The large, deep lot may also appeal to buyers considering flexibility for future use, while the new roof and gutters installed in 2026 help reduce near-term exterior maintenance concerns.
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 | $31.0k | $20.16 |
| − Vacancy | −$2.0k | −$1.31 |
| EGI | $29.0k | $18.85 |
| − OpEx | −$8.7k | −$5.65 |
| NOI | $20.3k | $13.19 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Richmond City
- State
- Virginia
- Longitude
- -77.476103
- Latitude
- 37.561904
