Renovated Duplex with Separate
4202 Chamberlayne Avenue, Richmond, VA 23227
For Sale
$449,500
ResidentialIncome, Richmond, VA
Property Size3,116 SF
Lot Size0.31 Acres
Price / SF$144.26
Days on Market47
Property Features for 4202 Chamberlayne Avenue
General Information
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Zoning description
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Elementary school
Middle school
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Size
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Building Details
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Listing Agency:
The SSAM Agency
(804) 276-6070
Listed By:
Sam Miliotis · License VA #0225045867
(804) 247-1277
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 9 at 9:06PM
MLS# 2626243
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.
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Investment Insights
Based on property information with market context.
This 3,116-square-foot brick duplex contains two apartments: a first-floor unit with two bedrooms and two full baths, and an upper-level unit with two bedrooms and one full bath. Renovations include kitchens, bathrooms, flooring, and appliances. The building has separate electrical meters and two heat pumps, with a large basement for storage.
The 0.3079-acre property is at 4202 Chamberlayne Avenue in Richmond, Virginia. Rear off-street parking is available, with alley access. Built in 1924, the building has a Colonial architectural style and public water and sewer.
The 0.3079-acre property is at 4202 Chamberlayne Avenue in Richmond, Virginia. Rear off-street parking is available, with alley access. Built in 1924, the building has a Colonial architectural style and public water and sewer.
Key Highlights
- Two‑unit duplex with 2‑bedroom layouts on both floors
- First‑floor apartment has 2 full baths; upper apartment has 1 full bath
- Renovations include kitchens, baths, flooring, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,115
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$822,300
$822.3K
Cap Rate 7%
$587,357
$587.4K
Cap Rate 9%
$456,833
$456.8K
Market Conditions
NOI Build-Up for 3,116 SF
Gross rent
$62.8K $20.16/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$58.7K $18.85/SF
− OpEx
−$17.6K −$5.65/SF
NOI
$41.1K $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%
$822,300
Cap Rate 7%
$587,357
Cap Rate 9%
$456,833
Alternative Uses
Best Use
Multifamily LT 5
$587.4K
$513.9K – $685.3K
NOI $41,115 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$551.5K
$482.5K – $643.4K
NOI $38,602 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$719.9K
$629.9K – $839.9K
NOI $50,393 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
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Demographics for 23227, VA
25,283
Population
13,351
Households
1.9
Avg Household Size
45
Median Age
47%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,199
Density / Sq Mi
$70,537
Median Household Income
$45,315
Median Earnings
$1,306
Median Rent
$329,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Richmond, VA
Properties on Market for Duplexes in Richmond
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer different bedroom and bath configurations, with rear off-street parking and basement storage.
Where is this duplex located?
The property is located at 4202 Chamberlayne Avenue Richmond, VA.
What is the asking price?
The asking price for this property is $449,500.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom layouts on both floors; First‑floor apartment has 2 full baths; upper apartment has 1 full bath; Renovations include kitchens, baths, flooring, and appliances
