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2863 Hull Street, Richmond, VA 23224 (MLS # 2606389)
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Rare value-add opportunity to acquire a fully renovated 7-unit multifamily building strategically positioned on the high-visibility Hull Street commercial corridor. This B-3 zoned property, totaling approximately 3,218 SF, features six studio apartments with full kitchens and private bathrooms, plus one additional guest suite, all updated in 2020. With a stabilized gross potential income of approximately $98,856 annually, investors can realize immediate upside by leasing the three current vacancies at market rates. The offering is uniquely enhanced by the inclusion of the adjacent lot at 2861 Hull St, providing significant potential for future subdivision or ground-up development. Currently operated with landlord-paid utilities, there is a clear path to further increasing Net Operating Income through the implementation of sub-metering or a RUBS billing program, making this a premier multifaceted asset in a rapidly growing Richmond corridor.
Property Type(s):
Multi Family
| Last Updated | 3/16/2026 | Tract | Burfoot Addition |
|---|---|---|---|
| Year Built | 1928 | Community | 60 - Richmond |
| Garage Spaces | 1.0 | County | Richmond City |
SCHOOLS
| Elementary School | Broadrock |
|---|---|
| Jr. High School | Elkhardt |
| High School | Richmond High School for the Arts |
Additional Details
| AREA | 60 - Richmond |
|---|---|
| BASEMENT | Partial, Yes |
| CONSTRUCTION | Brick, Frame |
| GARAGE | Yes |
| LOT | 10559 sq ft |
| PARKING | Detached, Garage |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Two Story |
| SUBDIVISION | Burfoot Addition |
| TAXES | 3744 |
| WATER | Public |
| ZONING | B-3 |
Location
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Listed with Hardesty Homes
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.
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: 3/16/26 11:21 PM PDT
This IDX solution is (c) Diverse Solutions 2026.
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