Four-Unit Residential Income
New
For Sale
$649,950
3424 & 3426 S Street, Richmond, VA 23223
ResidentialIncome, Richmond, VA
Property Size2,984 SF
Lot Size0.05 Acres
Price / SF$217.81
Days on Market3
Property Features for 3424 & 3426 S Street
General Information
Property type
Residential
Property subtype
Quadruplex
Zoning description
R-5
Parking features
Assigned, Off Street
Patio and Porch features
Porch
Interior features
LaminateCounters
Appliances
ElectricWaterHeater
Lot features
Level
Elementary school
Chimborazo
Middle school
Martin Luther King Jr.
High school
Armstrong
Directions
javascript:__doPostBack('m_lbSubmit','')
Subdivision
10 - Richmond
Standard status
Active
APN
E000-1102-031
Size
2,984 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0019.90X0100.00 IRG0000.045 AC & 0019.60X0100.00 IRG0000.044 AC
Tax Annual Amount
2352
Legal Description
0019.90X0100.00 IRG0000.045 AC & 0019.60X0100.00 IRG0000.044 AC
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Building materials
Drywall, Frame, VinylSiding
Roof type
Flat, Shingle
Architectural style
Other
Listing Agency:
ERA Woody Hogg & Assoc · ERA Real Estate
(804) 559-4644
Listed By:
Chad Hunt · License #0225208273
(804) 380-0445
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 8:06PM
MLS# 2628133
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.
Two duplex buildings at 3424 and 3426 S Street are offered together as a four-unit residential income property. The 2,984-square-foot property dates to 1910, with each 746-square-foot residence configured with two bedrooms, one full bath, a kitchen, and a living area. A porch and paved parking area with assigned spaces serve the property; on-street parking is also available.
Three units are leased, while the fourth is vacant and has recently received new carpet. Both buildings received new roofs in 2025, and the HVAC system in unit 3424A was also replaced in 2025. Public water and sewer serve the property.
Three units are leased, while the fourth is vacant and has recently received new carpet. Both buildings received new roofs in 2025, and the HVAC system in unit 3424A was also replaced in 2025. Public water and sewer serve the property.
Key Highlights
- Four residences across two duplex buildings
- 2,984 square feet total; each unit is 746 square feet
- Each unit has 2 bedrooms, 1 full bath, a kitchen, and a living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,373
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,460
$787.5K
Cap Rate 7%
$562,471
$562.5K
Cap Rate 9%
$437,478
$437.5K
Market Conditions
NOI Build-Up for 2,984 SF
Gross rent
$60.2K $20.16/SF
− Vacancy
−$3.9K −$1.31/SF
EGI
$56.2K $18.85/SF
− OpEx
−$16.9K −$5.65/SF
NOI
$39.4K $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%
$787,460
Cap Rate 7%
$562,471
Cap Rate 9%
$437,478
Alternative Uses
Best Use
Multifamily LT 5
$562.5K
$492.2K – $656.2K
NOI $39,373 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$528.1K
$462.1K – $616.1K
NOI $36,967 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$689.4K
$603.2K – $804.3K
NOI $48,258 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 23223, VA
51,960
Population
27,141
Households
1.9
Avg Household Size
35
Median Age
32%
College-Educated
90%
High-School Grad
16.7 sq mi
ZIP Area
3,111
Density / Sq Mi
$56,518
Median Household Income
$39,828
Median Earnings
$1,224
Median Rent
$236,300
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 - Two duplex buildings provide assigned off-street parking, with three residences currently leased.
Where is this quadplex located?
The property is located at 3424 & 3426 S Street Richmond, VA.
What is the asking price?
The asking price for this property is $649,950.
What are key features of this property?
This property features: Four residences across two duplex buildings; 2,984 square feet total; each unit is 746 square feet; Each unit has 2 bedrooms, 1 full bath, a kitchen, and a living area
