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

RECONSTRUCTED 4-UNIT | 12-MONTH PROVEN PERFORMANCE | 100% OCCUPANCY | FURNISHED RENTAL UPSIDE
__________________________________________
OVERVIEW
Fully reconstructed 4-unit property in Richmond with 12 months of documented performance and 100% occupancy.
The asset is currently operated with a mix of furnished and unfurnished units and has demonstrated consistent income with no vacancy over the past year.
Offered at $935,000.
__________________________________________
FINANCIALS (ACTUAL PERFORMANCE)
* Price: $935,000
* NOI: $65,257
* Cap Rate: 6.98%
* Gross Income: $89,400
* Occupancy: 100% (12+ consecutive months)
__________________________________________
PERFORMANCE
Furnished units have consistently achieved $2,000–$2,650/month over the past 12 months.
The current configuration provides stable, proven income while maintaining operational flexibility.
__________________________________________
UPSIDE (CONFIGURATION)
The property is currently configured as 2 furnished / 2 unfurnished units.
Expansion of the furnished rental model across all four units may increase overall income, based on the performance of existing furnished units.
This allows buyers to:
* Maintain the current stable model
* Or optimize toward a fully furnished rental strategy over time
__________________________________________
THE PROPERTY
“Legend RVA” is a fully reconstructed 3,400 sq ft quad with modern systems and high-quality finishes throughout.
Designed with furnished rental functionality in mind, the property offers a move-in-ready alternative to the deferred maintenance common in Richmond’s housing stock.
__________________________________________
FEATURES & UPGRADES
* New plumbing, electrical, and main sewer line
* Mitsubishi mini-split HVAC systems
* Anderson 100 Series windows
* Hardwired Cat6A ethernet (fiber-ready)
* High-quality flooring and finishes
* Dimplex Revillusion fireplaces in each unit
* 800 sq ft concrete patio with fire pit and seating
__________________________________________
OPTIONAL TURNKEY CONFIGURATION
A fully furnished configuration and digital assets are available separately for buyers seeking immediate rental operation.
This may include:
* Furniture, fixtures, and equipment (FF&E)
* Curated unit interiors
* Existing operational setup
__________________________________________
BROKER COOPERATION (UPDATE 4/30/26)
* 2% cooperating commission offered to buyer’s agent
__________________________________________
SHOWING PROCESS
* Video walkthroughs available upon request
* In-person showings scheduled with proof of funds or pre-approval
__________________________________________
ADDITIONAL INFORMATION
Full rent roll, P&L, and supporting documentation available upon request.