2115 Phaup Street, Richmond, VA 23223

Richmond
Local realty services provided by:ICON Realty Group ERA Powered
2115 Phaup Street,Richmond, VA 23223
$989,000
  • - Beds
  • - Baths
  • 6,448 sq. ft.
  • Multi-family
  • Active
Listed by: sean gould
Office: hometown realty
MLS#:2614044
Source:RV

Price summary

  • Price:$989,000
  • Price per sq. ft.:$153.38

About this home

Outstanding opportunity to acquire an investor friendly 9-unit multifamily asset with stabilized rental income and an appraisal-supported cap rate of approximately 8.5% and current seller-provided operating figures close to a 9.5% cap rate. With average rent at $1200 per unit this investment opportunity is strong and reliable. The two-story brick apartment building offers a practical and consistent unit mix with nine (9) 2-bedroom, 1-bath residences, each approximately 700 square feet, for a total building size of approximately 6,448 square feet on a 0.27-acre parcel. The property features a NEWER roof, NEW exterior access, durable brick construction, multiple unit entrances, and functional interior layouts that support long-term rental operations. The property offers a courtyard-style exterior, low-maintenance brick façade, and bright interior spaces. Select units feature hardwood or plank-style flooring, white kitchen cabinetry, electric range appliances, and neutral wall colors....

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Home facts

  • Year built:1950
  • Subdivision & Development:Woodville
  • Listing ID #:2614044
  • Added:135 day(s) ago
  • Updated:October 07, 2026 at 03:21 PM

Rooms and interior

  • Basement:Yes
  • Basement Description:Crawl Space
  • Living area:6,448 sq. ft.

Structure and exterior

  • Year built:1950
  • Building area:6,448 sq. ft.
  • Lot area:0.27 Acres
  • Architectural Style:Two Story
  • Construction Materials:Brick, Drywall
  • Levels:Two, Two Story

Schools

  • High school:Armstrong
  • Middle school:Martin Luther King Jr.
  • Elementary school:Fairfield

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$989,000
  • Price per sq. ft.:$153.38
  • Tax amount:$7,332 (2025)

Features and amenities

  • Appliances:Electric Water Heater

Parking

  • Parking description:Off Street, On Street
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. RV Member Broker: Catina Jones

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