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$ 2,075,000
Est. payment /mo
New
3110 Woodcliff AVE Richmond, VA 23222
1,412 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,412 sqft
Price per Sqft $1,469
MLS Listing ID 2623403
Style Two Story
Construction Status Approximate
HOA Y/N No
Year Built 1927
Annual Tax Amount $2,172
Tax Year 2025
Lot Size 4,199 Sqft
Acres 0.0964
Property Sub-Type Multi Family
Property Description
This fully leased eight-unit single-family rental portfolio presents a compelling opportunity to acquire immediate cash flow with additional long-term upside across the Richmond metropolitan area. The properties are strategically distributed throughout the City of Richmond's Northside and Southside neighborhoods, as well as Chesterfield County, providing geographic diversification within a single investment. The homes have been well maintained and are 100% occupied, generating $17,790 in gross monthly rent, or approximately $2,224 per door per month. With a total portfolio offering allocation of $2,075,000, the portfolio averages approximately $259,375 per home, providing an attractive basis for a stabilized collection of individually marketable single-family assets.
Beyond the portfolio's strong in-place cash flow, several properties offer meaningful additional value through their oversized lots and potential for future development. 3100 Groveland, 3110 Woodcliff, and 417 Patrick each feature double or potentially subdividable lots, creating opportunities for future infill development, additional home sites, or disposition of excess land, subject to applicable zoning and approvals. 417 Patrick offers particularly notable upside, with the potential to subdivide into as many as three lots. The combination of stabilized rental income, an average monthly rent exceeding $2,200 per door, an attractive per-unit basis, and embedded development potential creates a unique opportunity to capture both dependable current returns and additional long-term value.
Beyond the portfolio's strong in-place cash flow, several properties offer meaningful additional value through their oversized lots and potential for future development. 3100 Groveland, 3110 Woodcliff, and 417 Patrick each feature double or potentially subdividable lots, creating opportunities for future infill development, additional home sites, or disposition of excess land, subject to applicable zoning and approvals. 417 Patrick offers particularly notable upside, with the potential to subdivide into as many as three lots. The combination of stabilized rental income, an average monthly rent exceeding $2,200 per door, an attractive per-unit basis, and embedded development potential creates a unique opportunity to capture both dependable current returns and additional long-term value.
Location
State VA
County Richmond City
Area 30 - Richmond
Exterior
Roof Type Metal
Garage No
Building
Story 2
Sewer Public Sewer
Water Public
Architectural Style Two Story
Level or Stories Two
Structure Type Frame,Vinyl Siding
Construction Status Approximate
Schools
Elementary Schools Barack Obama
Middle Schools Henderson
High Schools John Marshall
Others
Tax ID N000-1055-013
Ownership Individuals
Listed by One South Commercial LLC