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Steven Ewell

steve@cbwilliamsburg.com +1(757) 603-2807

$ 889,000

Est. payment | -/mo

3,218 SqFt

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$ 889,000

Est. payment | -/mo

Save

3,218 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,218 sqft

Price per Sqft $276

Subdivision Burfoot Addition

MLS Listing ID 2606389

Style Two Story

Construction Status Approximate

HOA Y/N No

Year Built 1928

Annual Tax Amount $3,744

Tax Year 2025

Lot Size 10,558 Sqft

Acres 0.2424

Property Sub-Type Multi Family

Property Description

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.

Location

State VA

County Richmond City

Community Burfoot Addition

Area 60 - Richmond

Rooms

Basement Partial

Exterior

Parking Features Detached

Garage Spaces 1.0

Roof Type Composition

Garage Yes

Building

Story 2

Sewer Public Sewer

Water Public

Architectural Style Two Story

Level or Stories Two

Structure Type Brick,Frame

Construction Status Approximate

Schools

Elementary Schools Broadrock

Middle Schools Elkhardt

High Schools Richmond High School For The Arts

Others

Tax ID S000-1223-014

Ownership Individuals

Listed by Hardesty Homes

Nearby Locations

GET MORE INFORMATION

Steven Ewell

Broker Associate | Lic# 225202387

steve@cbwilliamsburg.com

+1(757) 603-2807

4071 Ironbound Rd Williamsburg VA 23188

2863 Hull ST Richmond, VA 23224

Steven Ewell

Key Details

Location

Rooms

Exterior

Building

Schools

Others

2863 Hull ST