4 S Auburn Avenue, Richmond, VA 23221

Property Description

This turnkey property offers investors and owner-occupants alike the rare opportunity to acquire a stabilized asset with modern upgrades, strong in-place income, and long-term upside. The property has undergone a comprehensive renovation, featuring new kitchens with stainless steel appliances, updated bathrooms, new LVP flooring, and efficient mini-split heating and cooling systems throughout. Additional capital improvements include rebuilt front and rear porches, a new front stair entry, and fresh exterior paint, all contributing to the property’s strong curb appeal and long-term durability. Each unit is separately metered, allowing for streamlined operations and reduced landlord expenses. All units are currently leased at $1,499 per month, demonstrating the property’s strong rental performance and positioning within the market. Unit A has been intentionally left vacant to accommodate showings, while also presenting an ideal opportunity for an owner-occupant to offset housing costs with rental income. Located just steps from Carytown’s premier retail and dining corridor, the property benefits from exceptional walkability to restaurants, coffee shops, boutiques, and everyday conveniences. This highly desirable location continues to drive consistent tenant demand, making 4 S Auburn Avenue a compelling investment in one of Richmond’s most resilient rental submarkets. Investment Highlights • Fully renovated multifamily property in the heart of Carytown • All units leased at $1,499/month (Unit A vacant for showings) • Ideal investment or owner-occupant opportunity • Separately metered utilities for all units • Strong in-place income with proven rental demand • Located in one of Richmond’s most walkable and desirable neighborhoods Financial Overview • Gross Rental Income: $72,000 annually • Real Estate Taxes: $6,240 annually • Insurance: $2,340 annually • Utilities: Separately Metered - Tenant Expense