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1012 W Franklin Street, Richmond, VA 23220 (MLS # 2525661)
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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.
Property Type(s):
Multi Family
| Last Updated | 9/11/2025 | Tract | None |
|---|---|---|---|
| Year Built | 1900 | Community | 10 - Richmond |
| Garage Spaces | 1.0 | County | Richmond City |
SCHOOLS
| Elementary School | Fox |
|---|---|
| Jr. High School | Dogwood |
| High School | Thomas Jefferson |
Additional Details
| AIR | Ceiling Fan(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | 10 - Richmond |
| BASEMENT | Finished, Full, Yes |
| CONSTRUCTION | Brick, Other, Stone |
| GARAGE | Yes |
| INTERIOR | Ceiling Fan(s), High Ceilings |
| LOT | 4600 sq ft |
| LOT DESCRIPTION | Level |
| PARKING | Detached, Garage, Off Street |
| SEWER | Public Sewer |
| STORIES | Three Or More, Multi/Split |
| STYLE | Tri Level |
| SUBDIVISION | None |
| TAXES | 14712 |
| UTILITIES | Cable Available |
| WATER | Public |
| ZONING | R-6 |
Location
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Listed with The Mueller Group LLC
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 ©2025 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing
Last Updated: 12/7/25 7:01 AM PST
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