1012 W Franklin Street, Richmond, VA 23220
- $2,100,000
- 8,296
- SqFt
- Sold Price
- $2,100,000
- List Price
- $2,200,000
- Days on Market
- 141
- Closing Date
- Mar 27, 2026
- MLS#
- CVR-2525661
- Status
- CLOSED
- Type
- Multifamily
- Style
- Tri-Level
- Year Built
- 1900
- County
- Richmond City
- Region
- 10 - Richmond
Property Description
1012 W. Franklin St is one of Richmond’s most iconic Greystone/Granite buildings, ideally located in the popular Fan District just steps from VCU. This 8,298 sq. ft. property features SIX units, 18 bedrooms, 12 baths, plus 2 off-street parking spaces and a rear garage currently used as a workshop. 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 newer roof (85% metal, 15% membrane). The property is fully leased and generates a monthly income of $14,375 and has been owned for 23 years with 100% occupancy. Notably, Unit 5 offers 1,516 sq. ft. with 3 bedrooms/2 baths ($2,505/mo) and Unit 6 offers 1,482 sq. ft. with 4 bedrooms/2 baths ($2,740/mo). 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 to all of the amenities the Fan has to offer.
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Additional Information
- Acres
- 0.11
- Living Area
- 8,296
- Elementary School
- Fox
- Middle School
- Dogwood
- High School
- Thomas Jefferson
- Roof
- Metal
- Appliances
- Electric Water Heater
- Basement
- Full, Finished
- Taxes
- $14,712
Mortgage Calculator
Listing courtesy of The Mueller Group LLC. Contact:
Selling Office: United American Realty.
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 © 2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. Real estate properties marked with the Central Virginia MLS (CVRMLS) icon are provided courtesy of the CVRMLS IDX database. The information being provided is for a consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing. IDX information updated .