2863 Hull Street, Richmond, VA 23224

Richmond
Local realty services provided by:ERA Woody Hogg & Assoc.
2863 Hull Street,Richmond, VA 23224
$879,000
  • - Beds
  • - Baths
  • 3,218 sq. ft.
  • Multi-family
  • Active
Listed by: amanda hardesty, ashley gibbs
Office: hardesty homes
MLS#:2606389
Source:RV

Price summary

  • Price:$879,000
  • Price per sq. ft.:$273.15

About this home

Rare value-add opportunity to acquire a fully renovated 7-unit multifamily building strategically positioned on the high-visibility Hull Street commercial corridor. This B-3 zoned property, totaling approximately 3,218 SF, features six studio apartments with full kitchens and private bathrooms, plus one additional guest suite, all updated in 2020. With a stabilized gross potential income of approximately $98,856 annually, investors can realize immediate upside by leasing the three current vacancies at market rates. The offering is uniquely enhanced by the inclusion of the adjacent lot at 2861 Hull St, providing significant potential for future subdivision or ground-up development. Currently operated with landlord-paid utilities, there is a clear path to further increasing Net Operating Income through the implementation of sub-metering or a RUBS billing program, making this a premier multifaceted asset in a rapidly growing Richmond corridor.

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Home facts

  • Year built:1928
  • Subdivision & Development:Burfoot Addition
  • Listing ID #:2606389
  • Added:142 day(s) ago
  • Updated:August 06, 2026 at 02:47 PM

Rooms and interior

  • Basement:Yes
  • Basement Description:Partial
  • Living area:3,218 sq. ft.

Structure and exterior

  • Roof:Composition
  • Year built:1928
  • Building area:3,218 sq. ft.
  • Lot area:0.24 Acres
  • Architectural Style:Two Story
  • Construction Materials:Brick, Frame
  • Levels:Two, Two Story

Schools

  • High school:Richmond High School for the Arts
  • Middle school:Elkhardt
  • Elementary school:Broadrock

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$879,000
  • Price per sq. ft.:$273.15
  • Tax amount:$3,744 (2025)

Parking

  • Parking description:Detached, Garage
  • Garage:Yes
  • Garage spaces:1
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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