2810 Griffin Ave 4 Unit Apartment Building $935,000 ($233,750/Unit) 6.98% Cap Rate Richmond, VA 23222

DIRECT FROM THE OWNER
I am liquidating this high-performance asset to reallocate capital into a new venture. I did not build this property to flip it; I over-engineered it to keep as a long-term hold. Because I am now focusing on a software launch, I am offering this "Turnkey Gold Mine" to an investor who values absolute quality and zero-headache cash flow.
THE FINANCIALS (2025 ACTUALS)
Price: $935,000 (FIRM)
Net Operating Income (NOI): $65,257.05
Cap Rate: 6.98%
Occupancy: 100% (Zero vacancy for 12+ consecutive months)
Gross Annual Run-Rate: $89,400
THE BUILD: INSTITUTIONAL QUALITY & TECH-READY
I put my own technical standards into every inch of this 3,400 sq. ft. quad. This is likely the highest-spec multifamily asset in Richmond:
Actual Performance: My furnished units are regularly fetching $2,000–$2,650/month with zero vacancy over the last 12 months.
The Opportunity: The property is currently operating at 6.98% with a mix of furnished and semi-furnished units. A full conversion to the MTR model (all 4 units furnished) yields a projected 11.23% CAP.
WINDOWS: Anderson 100 Series (Fiberglass/Fibrex)—no cheap vinyl replacements here.
NETWORKING: Hardwired Cat6a Ethernet in every unit. It is fiber-ready and purpose-built for high-earning remote professionals.
INTERIOR: Solid wood and high-end engineered flooring, Dimplex Revillusion electric fireplaces, and curated "Boutique Hotel" aesthetics.
OUTDOOR: A brand new 800 sq. ft. concrete patio with fire pit, grill, and designer sectional. This is the primary driver of my 5-star reviews.
THE "DAY 1" BUSINESS BUNDLE ($50K VALUE)
To ensure a seamless transition, the asking price includes the entire "Legend RVA" brand identity and physical inventory:
DIGITAL ASSETS: My custom direct-booking website and a flawless 5-star Google Business Profile (17 reviews).
SEO DOMINANCE: We rank organically on Page 1/2 for "Furnished Apartments Richmond VA."
FULL INVENTORY: $48,592 in itemized Article and West Elm furniture, Samsung QLED TVs, and 4K workstation monitors.
COMMISSION & SHOWING PROTOCOL
COMMISSION: I pay 0%. Buyer’s agents are welcome, but your fee must be added to the price or paid by your client.
STATUS: SUBJECT TO INSPECTION. To protect the privacy of my professional tenants and my own time, I do not offer tours to unverified leads.
SIGN NDA AND REVIEW the walkthrough videos and full P&L/Asset List (available upon request).
SUBMIT a soft offer (LOI) and Proof of Funds.
INSPECT: Once we have an agreed-upon soft offer, I will provide 48-hour notice for a full interior walkthrough.