1209 Wallace ST Richmond, VA 23220
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,496 sqft
Price per Sqft $302
Subdivision Randolph West
MLS Listing ID 2625836
Style Colonial,Two Story
Construction Status Approximate
HOA Y/N No
Year Built 1920
Annual Tax Amount $6,384
Tax Year 2025
Lot Size 6,250 Sqft
Acres 0.1435
Property Sub-Type Quadruplex
Property Description
Solid brick, fully leased quad offering an excellent opportunity for investors seeking a property with existing income and additional upside. Current leases are in place, allowing for immediate rental income, while minor cosmetic enhancements could help maximize the property's future appeal and rental potential. *(See AI-generated images for examples of possible improvements.)*
The property features a **large, fully fenced backyard** offering multiple possibilities, including additional off-street parking or the creation of an inviting outdoor space for future tenants. Its solid brick construction, **separately metered utilities, and individual mini-split systems for each unit** add to the property's functionality and investment appeal.
The downstairs units feature updated flooring and kitchens, while the upstairs units offer private decks—perfect for enjoying a morning coffee or relaxing outdoors.
Approximately **$78,000 in improvements** have been completed in recent years, including a roof that is less than five years old, updated kitchens, mini-split heating and cooling systems, downstairs flooring, and interior painting.
With its **close proximity to VCU, existing leases, substantial recent improvements, and potential for additional value through cosmetic updates and outdoor enhancements**, this property is an opportunity worth exploring.
Location
State VA
County Richmond City
Community Randolph West
Area 10 - Richmond
Rooms
Basement Crawl Space
Exterior
Fence Back Yard, Fenced
Community Features Park
Roof Type Metal
Porch Balcony, Rear Porch, Front Porch
Garage No
Building
Story 2
Sewer Public Sewer
Water Public
Architectural Style Colonial, Two Story
Level or Stories Two
Structure Type Brick,Drywall
Construction Status Approximate
Schools
Elementary Schools Fox
Middle Schools Dogwood
High Schools Thomas Jefferson
Others
Tax ID W000-0436-026
Ownership Individuals
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