2308 5th Avenue, Richmond, VA 23222

Located in Richmond’s rapidly evolving North Highland Park neighborhood, 2308 5th Avenue presents a turnkey investment opportunity in a city with a strong local economy and growing job market. This duplex property features two fully leased 2-bedroom, 1-bathroom units, generating a gross monthly income of $2,025 per month in rental income (Unit A $850/Unit B $1,175). Market rents are $1,300 per month. A sister property next door, in similar condition and achieving the same market rents, was recently sold. Residents enjoy modernized interiors with central air, in-unit washer/dryer, dishwashers, and updated finishes. Tenants cover all utilities, including water, trash, and electricity, ensuring low owner expenses. Off-street parking in the rear adds to the property’s appeal. Rents are below market and can easily be increased to market at the time of renewal. With North Highland Park experiencing increased investment and revitalization, this asset benefits from the area's continued … read more …