Back to Search
Property profile & analytics
FOR SALE
Apartment buildings
2115 Phaup St Richmond, VA 23223
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-1338986
For Sale
1 / 21
$989,000
2115 Phaup St, Richmond, VA 23223
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Construction
TYPE NOT SPECIFIED
Total area
6,448 SF
Lot
0.27 ac (11,660 SF)
Zoning code
R-53 MULTI FAMILY
APN
E-012-0259-008
UPID
US87-1338986
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$810k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$810k
Owner & transaction history
Kpms3 LLC · 2 yrs held
Kpms3 LLC
since 2024
Last sale
$810,000
3 recorded transactions
Zoning & alternative use
R-53 MULTI FAMILY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+82.3%
Medical building
$1.1M
+66.7%
Neighborhood: shopping center
$1.1M
+64.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$810,000
ML approach
$810,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$645,000
Current use
AUTO REPAIR, GARAGE
$1,175,000
Change: +82% · Conversion: Difficult
MEDICAL BUILDING
$1,075,000
Change: +67% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,060,000
Change: +64% · Conversion: Difficult
OFFICE BUILDING
$955,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$930,000
Change: +44% · Conversion: Difficult
COMMERCIAL (GENERAL)
$770,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$810k
Range $729k – $891k · ±10% · vs last sale $810k (Mar 22 2024)
Last sale anchor
$810k
Mar 22 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$126 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$581,000
Assessed 2024
Previous assessed
$513,000
+13.3% YoY
Effective rate
0.00%
On assessed value
Assessed land
$57,000
Assessed improvement
$524,000
Land market value
$57,000
Improvement market value
$524,000
Total market value
$581,000
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1950
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Rooms
36
Bathrooms
9
Total area
6,448 SF
Lot
0.27 ac (11,660 SF)
Zoning code
R-53 MULTI FAMILY
APN
E-012-0259-008
UPID
US87-1338986
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-53 MULTI FAMILY · Richmond, VA
Zoning R-53 MULTI FAMILY · permitted uses
R-53 MULTI FAMILY · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$645,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
OFFICE BUILDING
Est. value
$955,000
RETAIL STORES
Est. value
$930,000
COMMERCIAL (GENERAL)
Est. value
$770,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Rooms
36
Bathrooms
9
Lot
0.27 ac
Current owner
From public records · entity-resolved
Kpms3 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
4993 MABEN HL LN, GLEN ALLEN, VA 23059-5931
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2026
—
Kpms3 LLC
—
Deed
related
$749,000 · United Bank
Mar 22, 2024
$810,000
Kpms3 LLC
39 Roses LLC
Warranty Deed
—
Sep 29, 2022
$425,000
39 Roses LLC
Gayton Investment Corp
Warranty Deed
$375,000 · Realty Industrial Loan Corporation
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
