48 Gibbons Avenue, Petersburg, VA 23803

Petersburg
Local realty services provided by:ERA Real Estate Professionals
48 Gibbons Avenue,Petersburg, VA 23803
$1,150,000
  • - Beds
  • - Baths
  • 1,082 sq. ft.
  • Multi-family
  • Active
Listed by: justin sledd
Office: one south commercial llc.
MLS#:2611385
Source:RV

Price summary

  • Price:$1,150,000
  • Price per sq. ft.:$1,062.85

About this home

Turnkey Investment Offering Strong In-Place Cash Flow in a Rapidly Improving Market. Over the past two years, the current ownership has executed a comprehensive renovation strategy, transforming these assets from distressed condition into well-positioned, income-producing properties. Capital improvements include updated interiors, LVP flooring, modernized kitchens and baths, and the installation of central HVAC systems across all homes—a significant upgrade for this asset class. Most units also feature washer/dryer hookups, further enhancing tenant appeal and long-term retention. The portfolio is currently 100% occupied, generating strong in-place rental income with an attractive average rent per unit. This offering provides investors with day-one cash flow supported by a stabilized rent roll, while minimizing near-term capital expenditure risk due to recent renovations. Strategically located just south of Richmond, Petersburg continues to gain momentum as an emerging investment...

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Home facts

  • Year built:1954
  • Subdivision & Development:None
  • Listing ID #:2611385
  • Added:97 day(s) ago
  • Updated:August 06, 2026 at 02:47 PM

Rooms and interior

  • Living area:1,082 sq. ft.

Structure and exterior

  • Roof:Composition
  • Year built:1954
  • Building area:1,082 sq. ft.
  • Lot area:0.13 Acres
  • Construction Materials:Asbestos, Frame
  • Levels:One

Schools

  • High school:Petersburg
  • Middle school:Vernon Johns
  • Elementary school:Lakemont

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$1,150,000
  • Price per sq. ft.:$1,062.85
  • Tax amount:$1,166 (2025)
MLS LogoThe information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing. All information provided is deemed reliable but is not guaranteed accurate.The multiple listing information is provided by Central Virginia Regional Multiple Listing Service, LLC from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.

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