Fully Leased Duplex 2304 5th Ave 2 Unit Apartment Building $375,000 ($187,500/Unit) Richmond, VA 23222
INVESTMENT HIGHLIGHTS
- Fully leased
- 2 BD/1 BA
- Tenant covers all utilities
- Turnkey investment opportunity
- Off street parking in rear
EXECUTIVE SUMMARY
Located in Richmond’s rapidly evolving North Highland Park neighborhood, 2304 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, with a total income of $2,565 per month in rental income. 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. With North Highland Park experiencing increased investment and revitalization, this asset benefits from the area's continued appreciation. Whether you're a seasoned investor or looking to expand your portfolio, 2304 5th Avenue offers stable cash flow in a city primed for sustained growth.
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PROPERTY FACTS
| Price | $375,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.14 AC |
| Building Size | 2,068 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2007 |
| Zoning | R-6 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
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PROPERTY TAXES
| Parcel Number | N000-0611-005 | Improvements Assessment | $184,000 |
| Land Assessment | $66,000 | Total Assessment | $250,000 |
