Four-Unit Tudor Revival
For Sale
$895,000
609 Tilden Street, Richmond, VA 23221
ResidentialIncome, Richmond, VA
Property Size3,375 SF
Lot Size0.07 Acres
Price / SF$265.19
Days on Market8
Property Features for 609 Tilden Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-6
Parking features
Off Street
Patio and Porch features
Deck
Interior features
BedroomOnMainLevel, CeilingFans, GraniteCounters, LaminateCounters
Exterior features
Lighting
Appliances
GasWaterHeater, WaterHeater
Subdivision
Lee Annex
Elementary school
Lois-Harrison Jones
Middle school
Albert Hill
High school
Thomas Jefferson
Standard status
Active
APN
W000-1468-040
Size
3,375 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0060.00X0050.00 0000.000
Tax Annual Amount
7056
Legal Description
0060.00X0050.00 0000.000
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
hardwood flooring
appliances
washer/dryer
outdoor porch space
central air conditioning
Building Details
Year built
1929
Floors in Building
2
Number of units
4
Building materials
Brick, Block, Frame, Plaster
Roof type
Slate
Architectural style
Other
Listing Agency:
Joyner Fine Properties
(804) 270-9440
Listed By:
Jim Dunn · License #0225003317
(804) 864-0323
Added: Sep 29
Changed: Oct 2
Last Checked: Oct 6 at 6:06PM
MLS# 2626055
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.
Investment Insights
Based on property information with market context.
This 3,375-square-foot quadplex contains four independent apartments, each arranged with two bedrooms and one bathroom. Built in 1929, the brick, block, frame, and plaster building has a slate roof. Unit interiors feature hardwood floors, appliances, and washer/dryers; three apartments have central air conditioning, and each has its own porch area.
The property occupies a 0.0689-acre site in Richmond’s Museum District. Off-street parking, public water, and public sewer serve the building. Tenants pay their own utilities.
The property occupies a 0.0689-acre site in Richmond’s Museum District. Off-street parking, public water, and public sewer serve the building. Tenants pay their own utilities.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,375 square feet on a 0.0689‑acre parcel
- Built in 1929 with Tudor Revival character, brick, block, frame, and plaster construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,532
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$890,640
$890.6K
Cap Rate 7%
$636,171
$636.2K
Cap Rate 9%
$494,800
$494.8K
Market Conditions
NOI Build-Up for 3,375 SF
Gross rent
$68.0K $20.16/SF
− Vacancy
−$4.4K −$1.31/SF
EGI
$63.6K $18.85/SF
− OpEx
−$19.1K −$5.65/SF
NOI
$44.5K $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%
$890,640
Cap Rate 7%
$636,171
Cap Rate 9%
$494,800
Alternative Uses
Best Use
Multifamily LT 5
$636.2K
$556.7K – $742.2K
NOI $44,532 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$597.3K
$522.6K – $696.9K
NOI $41,811 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$779.7K
$682.3K – $909.7K
NOI $54,582 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,065
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four separate two-bedroom apartments include individual porches, with tenants responsible for their own utilities.
Where is this quadplex located?
The property is located at 609 Tilden Street Richmond, VA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,375 square feet on a 0.0689‑acre parcel; Built in 1929 with Tudor Revival character, brick, block, frame, and plaster construction
