Richmond, VA Multifamily Properties for Sale

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Updated: May 13

Renovated Duplex in Richmond

4202 Chamberlayne Avenue, Richmond, VA 23227

$429,900

3,116 sqft 0.31 AC lot

$70,000 under city tax assessment (per public remarks)
Beautifully renovated duplex with all‑new kitchens, baths, flooring, and appliances (per public remarks)
Separate electrical service and 2 heat pumps (per public remarks)
Off‑street rear parking with driveway (unpaved driveway; parking paved or surfaced)
Year built 1924 with Colonial architectural style; brick and frame construction

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Here's a quick look at some key insights for

4202 Chamberlayne Avenue, Richmond, VA 23227

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Est. Cap Rate

9%
Above avg (5.9%)
Est. NOI

$39K
Annual
Price @ 7% Cap

$551K
Above asking
Property Type

Single Family Residence
Built 1924

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Updated: May 24

Richmond Multifamily Investment Opportunity

2115 Phaup Street, Richmond, VA 23223

$989,000

6,448 sqft 0.27 AC lot

9‑unit two‑story brick multifamily building on a 0.27‑acre parcel
Unit mix: nine 2‑bedroom/1‑bath apartments, each about 700 SF; total building size about 6,448 SF
Average rent reported at $1,200 per unit; tenant‑occupied with a strong rent roll
Cap rate reported as approximately 8.5% (appraisal‑supported) and close to a 9.5% cap rate (seller‑provided operating figures)
Recent updates noted: newer roof and newer exterior access; fenced property with a courtyard‑style exterior

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Contemporary Duplex With Two Residences

206 W 14th Street, Richmond, VA 23224

$720,000

2,996 sqft 0.08 AC lot

Duplex offering two contemporary residences with open-concept living spaces and abundant natural light.

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Updated Townhome with In-Law Suite

323 Randolph Street, Richmond, VA 23220

$599,000

2,476 sqft 0.05 AC lot

Updated end-unit townhome near VCU features a built-in in-law suite with separate entrance.

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18-Unit Apartment Community Corner Parcel

2400 Barton Avenue, Richmond, VA 23222

$2,750,000

18,972 sqft

18-unit multifamily property with an all-two-bedroom mix and recent capital improvements, positioned on a prominent corner lot.

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Duplex Property with Balcony Access

2034 W Grace Street, Richmond, VA 23220

$998,900

5,703 sqft 0.10 AC lot

Built in 1908 and configured as two 4-bedroom, 2-bath apartments with dedicated laundry and separate living spaces.

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Duplex with Covered Rear Porches

1416 Porter Street, Richmond, VA 23224

$599,900

2,384 sqft 0.12 AC lot

Turnkey duplex with two 2-bedroom, 2-bath units, including one leased unit and a vacant move-in-ready second home.

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Renovated Quadplex with Flexible Lease

4915 Chamberlayne Avenue, Richmond, VA 23227

$589,900

3,540 sqft 0.17 AC lot

Four-unit quadplex in Richmond, with a 2020 gut renovation and a mix of long-term and month-to-month occupancy.

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Renovated Multifamily Building with Development Potential

2863 Hull St, Richmond, VA 23224

$884,000

3,218 sqft

Fully renovated 7-unit building with development potential in Richmond, VA.

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New Construction Multifamily in Richmond

115 W 10th Street, Richmond, VA 23224

$699,000

2,669 sqft 0.07 AC lot

New construction duplex in historic Manchester, near downtown Richmond.

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Richmond Duplex: Leased Investment Opportunity

4412 Cutshaw Avenue, Richmond, VA 23230

$699,000

2,620 sqft 0.14 AC lot

Classic Richmond duplex with updated units and strong rental income.

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Fan District Quadplex Investment

2607 W Grace St, Richmond, VA 23220

$800,000

2,694 sqft

Classic 1910 brick quadplex in Richmond's desirable Fan District.

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Duplex With Two Two-Bedroom Units

220 W Marshall Street, Richmond, VA 23220

$480,000

2,022 sqft 0.03 AC lot

Well-maintained duplex with two 2-bedroom, 1-bath units featuring updated kitchens and hardwood flooring.

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Duplex with Two 2-Bed Units

222 W Marshall Street, Richmond, VA 23220

$480,000

2,142 sqft 0.03 AC lot

Well-maintained duplex featuring two 2-bedroom, 1-bath units with updated kitchens and hardwood floors throughout.

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NNN Apartment Building

2110 Redd Street, Richmond, VA 23223

$6,900,000

23,400 sqft 1.01 AC lot

36-unit apartment building offering a mix of two-bedroom, one-bathroom residences on 1.01 acres.

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Two-Unit Townhome With Parking

8 S Robinson Street, Richmond, VA 23220

$399,950

1,789 sqft 0.05 AC lot

Two-bedroom, one-bath units feature open living space, gas heat/cooking, central air, and off-street parking.

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Updated Multifamily Property For Sale

2608 East Marshall Street, Richmond, VA 23223

$475,000

1,380 sqft

Multifamily property with short term rental potential.

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Mixed-Use Income Building

2603 W Grace Street, Richmond, VA 23220

$599,950

1,518 sqft 0.11 AC lot

Mixed-use building includes two efficiency apartments and a six-room office with rear parking for six vehicles.

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Fan District Development Opportunity

1109 & 1111 W Franklin St, Richmond, VA 23220

$1,295,000

8,008 sqft

Two buildings in Richmond's Fan District with development potential.

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Colonial Multifamily with Courtyard

2125 Grove Avenue, Richmond, VA 23220

$1,080,000

4,804 sqft 0.12 AC lot

Colonial-style income property with 10-foot ceilings, hardwood floors, and recent roof, window, and appliance updates.

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Downtown Richmond Luxury Apartment Building

412 N 3rd St, Richmond, VA 23219

Contact for pricing

18,336 sqft 0.30 AC lot

15-unit apartment building in downtown Richmond near amenities.

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Fully Renovated Duplex with Porches

5508 Grove Ave, Richmond, VA 23226

$1,150,000

0.15 AC lot

Renovated two-story duplex with separate metering, off-street parking, and two furnished-style layouts for flexible rental income.

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Redevelopment Site with TOD-1 Zoning

4101 West Broad St, Richmond, VA 23230

Contact for pricing

7,000 sqft

For-sale redevelopment opportunity at a signalized intersection with TOD-1 zoning on West Broad Street.

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Turnkey Multifamily with Heat Pumps

2517 Grove Avenue, Richmond, VA 23220

$1,150,000

6,087 sqft 0.16 AC lot

Fully leased-feeling rental property with separate electric meters, owner-paid water, and four off-street parking spaces in Richmond.

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Richmond, VA Multifamily Properties Market Trends and Statistics

Explore 72 multifamily properties for sale in Richmond, VA, showcased through 44 active listings on our real estate platform. These investment opportunities span a total of 121,407 square feet of properties for sale, with an estimated market value of $26,633,600.

Sale prices for multifamily properties in Richmond, VA start at $330,000, averaging $1,109,733, and reaching up to $6,900,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 594K

Population Growth (5Y) +3.2%

Median Household Income $75,947

College Educated 27.8%

High-Yield Neighborhoods for Investment

Identify Richmond submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
23225	$249.9K
23227	$429.9K
23221	$599K
23224	$678.2K
23230	$699K

Taxes & Financing

Tax Rate (average for all types) 0.37%

Property Tax per SF $7.41 per SF

Tax Rate vs County Average 0.05 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Richmond City County

New Delisted

Total CRE Inventory on Market (SF)

Property Size Breakdown

The majority of commercial real estate listings in Richmond fall within the 100,000+ square foot range.

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