SoldDec 22, 2025

Listed by Teresa Mueller

Bought with Dianne Long

Source: Central Virginia Regional Multiple Listing Service #2525663

1012 Park Avenue, Richmond, VA, 23220

$1,500,000

5283 sq. ft.
0.06 ac.

Duplex

30+ days on the market

Sold: Dec 22, 2025

What's around 1012 Park Avenue

About this property

AMAZING INVESTMENT OPPORTUNITY IN THE HEART OF THE FAN DISTRICT. Just steps from VCU, this updated 4 UNIT property spans 4,878 sqft and features a total of 11 bedrooms and 8 bedrooms. The building has been fully renovated with modern systems: central air/heat pumps, updated plumbing and electric, sprinkler system, fire alarm monitoring, double-paned windows, in-unit laundry, and a metal roof. The property is fully leased and generates a strong monthly income of $9,835 and has been owned for 19 years with 100% occupancy. With high rental demand, and its unbeatable location near VCU, downtown, and major highways, this is a prime opportunity for investors or owner-occupants seeking both immediate cash flow and long-term appreciation. With no rent increases this year, there is strong upside potential for rent growth. Don't miss out on this rare opportunity to acquire a turn-key, cash-flowing asset in one of Richmond's most desirable neighborhoods conveniently located steps from all of the amenities the FAN has to offer.

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