Brick Duplex with Detached
For Sale
$989,900
4207 W Grace St, Richmond, VA 23230
Two separate residences offer first-floor living, private laundry, studies, and flexible occupancy options.
Property Size3,552 SF
Lot Size0.17 Acres
Price / SF$278.69
Days on Market74
Property Features for 4207 W Grace St
General Information
Standard status
Active
Size
3,552 SF
Total Parking Spaces
3
Lot size
0.17 Acres
Property subtype
Multi-Family
Site & Location
Neighborhood
Mvgd
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
patio
garden
in-unit laundry
Building Details
Year Built
1940
Buildings
1
Stories
2
Construction
brick
Listing Agency:
PARK 27
Listed By:
Chris Small · License #0225108723
(804) 350-0879
Source:
Onedreamrealty
Added: Aug 14
Changed: Oct 25
Last Checked: Oct 7 at 5:24PM
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 PARK 27
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Investment Insights
Based on property information with market context.
This 1940 brick duplex in Richmond’s Sauer’s Gardens neighborhood features two separately arranged residences. The main-level unit includes 2 bedrooms, 2 full baths, a study, and private laundry. The upper residence offers 2 bedrooms, 1 full bath, a study, and its own laundry; a second bathroom is already roughed-in for conversion. The upper unit is currently operated as a short-term rental with a two-month minimum, while the main level is owner occupied.
A new detached garage provides two full bays and a finished storage level above. The property also includes one additional off-street parking space, a bluestone patio, and landscaped hardscape on a 7,258 sq ft lot. Located at 4207 W Grace St in Richmond’s Near West End, the duplex is positioned within Sauer’s Gardens and near Monument Avenue’s brick-and-boxwood residential setting.
A new detached garage provides two full bays and a finished storage level above. The property also includes one additional off-street parking space, a bluestone patio, and landscaped hardscape on a 7,258 sq ft lot. Located at 4207 W Grace St in Richmond’s Near West End, the duplex is positioned within Sauer’s Gardens and near Monument Avenue’s brick-and-boxwood residential setting.
Key Highlights
- Two separately arranged residences with 2 bedrooms in each unit
- Main‑level unit includes 2 full baths, a study, and private laundry
- Upper unit includes a study, private laundry, and a second bath roughed‑in for conversion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,868
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$937,360
$937.4K
Cap Rate 7%
$669,543
$669.5K
Cap Rate 9%
$520,756
$520.8K
Market Conditions
NOI Build-Up for 3,552 SF
Gross rent
$71.6K $20.16/SF
− Vacancy
−$4.7K −$1.31/SF
EGI
$67.0K $18.85/SF
− OpEx
−$20.1K −$5.65/SF
NOI
$46.9K $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%
$937,360
Cap Rate 7%
$669,543
Cap Rate 9%
$520,756
Alternative Uses
Best Use
Multifamily LT 5
$669.5K
$585.9K – $781.1K
NOI $46,868 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$628.6K
$550.1K – $733.4K
NOI $44,004 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$820.6K
$718.1K – $957.4K
NOI $57,444 @ 7.0% cap · market cap 5.80%
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
1,178
Businesses Nearby
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Business Placement
Demographics for 23230, VA
8,263
Population
5,066
Households
1.6
Avg Household Size
35
Median Age
52%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
1,922
Density / Sq Mi
$71,189
Median Household Income
$55,121
Median Earnings
$1,608
Median Rent
$343,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer first-floor living, private laundry, studies, and flexible occupancy options.
Where is this duplex located?
The property is located at 4207 W Grace St Richmond, VA.
What is the asking price?
The asking price for this property is $989,900.
What are key features of this property?
This property features: Two separately arranged residences with 2 bedrooms in each unit; Main‑level unit includes 2 full baths, a study, and private laundry; Upper unit includes a study, private laundry, and a second bath roughed‑in for conversion
