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618 N 32nd Street, Richmond, VA 23223 (MLS # 2530529)
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Exceptional investment opportunity in Richmond offering $96,000 gross annual income and 9.2% CAP rate! This fully renovated 4-unit property is not only turnkey, but also delivers the highest rental rate per unit among all quadplex sales in the Downtown Richmond area. With long-term tenants in place and quality upgrades throughout, this asset offers immediate cash flow and minimal ongoing responsibilities. Each unit is on a 3-year lease generating a combined annual gross rent of $96,000"”a strong return with no property management needed and virtually zero maintenance. Whether you're a seasoned investor or looking to enter the multifamily market, this property offers stability, performance, and peace of mind"”all with top-tier rental income already secured. 620 N 32nd Also for sale with identical offering and prefered to sell together. Also offered with the sale is 3108 E Leigh St Rear for parking with the ability to add paid parking for neighboring tenants!
Property Type(s):
Multi Family
| Last Updated | 11/2/2025 | Tract | None |
|---|---|---|---|
| Year Built | 1925 | Community | 10 - Richmond |
| County | Richmond City |
SCHOOLS
| Elementary School | Chimborazo |
|---|---|
| Jr. High School | Martin Luther King Jr. |
| High School | Armstrong |
Additional Details
| APPLIANCES | Electric Water Heater |
|---|---|
| AREA | 10 - Richmond |
| BASEMENT | Crawl Space |
| CONSTRUCTION | Brick, Frame |
| EXTERIOR | Balcony |
| INTERIOR | Granite Counters, High Ceilings, Kitchen Island, Master Downstairs, Recessed Lighting |
| LOT | 2753 sq ft |
| LOT DESCRIPTION | Corner Lot |
| PARKING | Alley Access, Parking Lot |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Two Story |
| SUBDIVISION | None |
| TAXES | 5712 |
| WATER | Public |
| ZONING | R-63 |
Location
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Listed with EXP Realty 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: 12/12/25 10:16 PM PST
This IDX solution is (c) Diverse Solutions 2025.
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