618 S Laurel Street, Richmond, VA 23220 (MLS # 2422662)
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Fully leased Oregon Hill duplex! This pedestrian friendly neighborhood offers quick access to the main campus of VCU and the James River Park system. The property currently generates $3,600 / month with both leases good through June of 2025. Current rents are below market and could be raised if new owner is willing to renovate. Tenants pay all utilities on separately metered units. Plans have been submitted to the city for approval of an Accessory Dwelling Unit (ADU) to be built over a detached garage off the rear alley. Adding the ADU studio apartment and garage could generate an additional $1,500/month in rent. The ADU permitting and architectural drawings will convey with the sale. Proximity to VCU / MCV and downtown Richmond create exceptional demand and limited turnover with occasional vacancies quickly filled. Whether you seek a relatively passive cash flowing investment, or a project with plenty of potential to increase rents through renovations and/or the addition of an ADU, this Oregon Hill location is worth your consideration!
| DAYS ON MARKET | 15 | LAST UPDATED | 9/5/2024 |
|---|---|---|---|
| TRACT | None | YEAR BUILT | 1914 |
| COMMUNITY | 10 - Richmond | COUNTY | Richmond City |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| Elementary School | Fox |
|---|---|
| Jr. High School | Dogwood |
| High School | Thomas Jefferson |
| ADDITIONAL DETAILS | |
| APPLIANCES | Gas Water Heater, Water Heater |
|---|---|
| AREA | 10 - Richmond |
| BASEMENT | Full, Unfinished, Walk-Out Access, Yes |
| CONSTRUCTION | Frame, Plaster, Vinyl Siding, Wood Siding |
| LOT | 3498 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Row House, Two Story |
| SUBDIVISION | None |
| TAXES | 5520 |
| WATER | Public |
| ZONING | R-7 |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Shaheen Ruth Martin & Fonville
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
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Last Updated: 9/19/24 5:05 AM PDT
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