For Sale
Classic Fan District Triplex Steps from VCU
1300 Floyd Avenue Richmond Virginia 23220
Asking$925,000
For Sale
1300 Floyd Avenue Richmond Virginia 23220
Positioned on one of Richmond’s most iconic residential neighborhoods – the Fan, 1300 Floyd Avenue presents a rare opportunity to acquire a classic Fan District triplex directly adjacent to Virginia Commonwealth University. This stately brick property blends historic Richmond architecture with strong in-place cash flow and substantial rental upside.
The property features three spacious apartment homes with an attractive unit mix ideal for students, young professionals, and long-term tenants seeking walkability to VCU, Carytown, the Fan’s restaurant scene, and downtown Richmond employment centers. The unit mix consists of a large one-bedroom apartment on the first floor with updated kitchen finishes, a spacious two-bedroom/two-bathroom apartment on the second floor, and a charming one-bedroom apartment occupying the third floor. All three units offer strong natural light, historic character, and layouts well suited for the urban renter profile driving demand throughout the Fan District.
Current ownership has completed several meaningful capital improvements including new thermal sash windows, updated kitchens and appliances, new hot water heaters, and a recently completed modified flat roof with copper flashing. The property has been well maintained while still offering investors the opportunity to increase rents significantly over time.
Current rents are considered substantially below market for renovated Fan District apartments within immediate proximity to VCU that include all utilities.
Current Gross Income: Approx. $53,217 annually
Estimated Expenses: Approx. $22,500 annually
Utility Information: Full Services Leases. Landlord Pays All Utilities.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
Justin is a seasoned commercial real estate expert with over 15 years worth of experience. Having a widespread knowledge of the Richmond real estate market, Justin is comfortable handling many types of transactions, but his primary practice areas are multifamily and investment sales. Justin possesses a commanding knowledge of Richmond’s rental market, providing his clients with in-depth analysis of the competitive landscape and value-added solutions. Justin is a Richmond native and a graduate of Virginia Commonwealth University.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
