1109 Franklin StRichmond, VA 23220

Property Details for 1109 Franklin St

Lot size

0.20 AC

Property size (Sq ft)

8,008 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional mixed-use investment opportunity presents two three-story buildings totaling 8,008 square feet situated on a 0.2-acre lot at 1109 & 1111 W Franklin St in Richmond, Virginia, 23220. The property, classified as Class B, is currently configured as an apartment building, executive office space, and a single-family rental portfolio, offering diverse income streams. The asking price is $1,295,000, translating to $161.71 per square foot. The buildings boast a newly installed roof and offer convenient onsite parking. Zoned R-6, this property presents significant potential for redevelopment or expansion. Its prime location near Virginia Commonwealth University (VCU) ensures high occupancy rates and strong rental demand. The property's historic character may qualify for potential historic tax credits, further enhancing its investment appeal. This is a rare chance to acquire a well-located, versatile property with substantial upside in a thriving urban market. The dual-building structure provides flexibility for various uses and future development plans. Serious investors should act quickly to capitalize on this unique opportunity.

Location Insight

City

Richmond

County

Henrico

State

Virginia

Latitude

37.5509

Longitude

-77.4552

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