AMAZING INVESTMENT OPPORTUNITY IN THE HEART OF THE FAN DISTRICT. Just steps from VCU, this updated 4 UNIT property spans 4,878 sqft and features a total of 11 bedrooms and 8 bedrooms. The building has been fully renovated with modern systems: central air/heat pumps, updated plumbing and electric, sprinkler system, fire alarm monitoring, double-paned windows, in-unit laundry, and a metal roof. The property is fully leased and generates a strong monthly income of $9,835 and has been owned for 19 years with 100% occupancy. With high rental demand, and its unbeatable location near VCU, downtown, and major highways, this is a prime opportunity for investors or owner-occupants seeking both immediate cash flow and long-term appreciation. With no rent increases this year, there is strong upside potential for rent growth. Don't miss out on this rare opportunity to acquire a turn-key, cash-flowing asset in one of Richmond's most desirable neighborhoods conveniently located steps from all of the amenities the FAN has to offer.
Sold for $1,500,000
$1,500,000
1012 Park Ave, Richmond, VA 23220
11beds
8baths
5,283sqft
Quadruplex, Multi Family, Multi Family
Built in 1910
-- sqft lot
$-- Zestimate®
$284/sqft
$1,569 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,569/mo
Zestimate® history
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List your homeWhat's special
Fire alarm monitoringMetal roofSprinkler systemIn-unit laundryUpdated plumbing and electricDouble-paned windows
Zillow last checked:
Listing updated:
Listed by:
Teresa Mueller 202-306-2674,
The Mueller Group LLC
Bought with:
Dianne Long, 0225128715
Napier REALTORS ERA
Source: CVRMLS,MLS#: 2525663
Originating MLS: Central Virginia Regional MLS
Originating MLS: Central Virginia Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 11
- Bathrooms: 8
Appliances
- Included: Electric Water Heater
- Laundry: Washer Hookup, Dryer Hookup, Stacked
Features
- Ceiling Fan(s), Double Vanity, Eat-in Kitchen, High Ceilings, High Speed Internet, Kitchen Island, Recessed Lighting, Tile Countertop, Tile Counters, Cable TV, Wired for Data
- Basement: Full,Finished
- Attic: None
Interior area
- Total interior livable area: 5,283 sqft
- Finished area below ground: 757
Property
Features
- Levels: Three Or More,Multi/Split
- Stories: 4
- Patio & porch: Front Porch
- Fencing: None
Lot
- Size: 2,657 Square Feet
Details
- Parcel number: W0000462017
- Zoning description: R-6
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Tri-Level
- Property subtype: Quadruplex, Multi Family, Multi Family
Materials
- Brick, Drywall
- Roof: Metal
Condition
- Year built: 1910
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: None
Location
- Region: Richmond
Financial & listing details
- Price per square foot: $284/sqft
- Tax assessed value: $1,097,000
- Annual tax amount: $13,164
- Date on market: 10/20/2025
- Ownership: Individuals
- Ownership type: Sole Proprietor
Price history
| Date | Event | Price |
|---|---|---|
| 12/22/2025 | Sold | $1,500,000-6.3%$284/sqft |
Source:  CVRMLS #2525663 Report a problem | ||
| 11/21/2025 | Pending sale | $1,600,000$303/sqft |
Source: CVRMLS #2525663 Report a problem | ||
| 9/16/2025 | Listed for sale | $1,600,000+244.1%$303/sqft |
Source: CVRMLS #2525663 Report a problem | ||
| 11/13/2018 | Listing removed | $1,400 |
Source: Zillow Rental Manager Report a problem | ||
| 10/12/2018 | Listed for rent | $1,400 |
Source: Zillow Rental Manager Report a problem | ||
| 3/24/2006 | Sold | $465,000$88/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,164 +6.8% | $1,097,000 +6.8% |
| 2024 | $12,324 +3.9% | $1,027,000 +3.9% |
| 2023 | $11,856 | $988,000 |
| 2022 | $11,856 +11.5% | $988,000 +11.5% |
| 2021 | $10,632 +0.6% | $886,000 +0.6% |
| 2020 | $10,572 +2.6% | $881,000 +2.6% |
| 2019 | $10,308 +53.1% | $859,000 +53.1% |
| 2018 | $6,732 +61.7% | $561,000 +52.4% |
| 2017 | $4,164 | $368,000 |
| 2016 | $4,164 | $368,000 +3.1% |
| 2015 | $4,164 | $357,000 +2.9% |
| 2014 | $4,164 | $347,000 |
| 2013 | -- | $347,000 |
| 2012 | -- | $347,000 +4.2% |
| 2011 | -- | $333,000 |
| 2010 | -- | $333,000 -2.7% |
| 2009 | -- | $342,200 -11.6% |
| 2008 | -- | $387,000 |
| 2007 | -- | $387,000 |
| 2006 | -- | $387,000 +11% |
| 2005 | -- | $348,500 +15% |
| 2003 | -- | $303,000 +34.3% |
| 2002 | -- | $225,600 +22% |
| 2001 | $2,644 | $184,900 |
Find assessor info on the county website
Neighborhood: The Fan
Nearby homes
- $--3 bd2 ba1.5k sqft1012 Park Ave UNIT 2, Richmond, VA 23220Off Market
- $--3 bd2 ba1.2k sqft1012 Park Ave APT 1, Richmond, VA 23220Off Market
- $--2 bd1 ba1.3k sqft1012 Park Ave UNIT 4, Richmond, VA 23220Off Market
- $--3 bd3 ba1.5k sqft1012 Park Ave APT 3, Richmond, VA 23220Off Market
- $650,0001 bd1 ba3.8k sqft1014 Park Ave, Richmond, VA 23220Off Market
- $--1 bd1 ba750 sqft1014 Park Ave UNIT 4, Richmond, VA 23220Off Market
- $--1 bd1 ba650 sqft1014 Park Ave APT 5, Richmond, VA 23220Off Market
- $--1 bd1 ba-- sqft1014 Park Ave APT 3, Richmond, VA 23220Off Market
Nearby schools
GreatSchools rating
- 7/10William Fox Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 1/10Binford Middle SchoolGrades: 6-8Distance: 0.4 mi
- 4/10Thomas Jefferson High SchoolGrades: 9-12Distance: 2.3 mi
Schools provided by the listing agent
- Elementary: Fox
- Middle: Dogwood
- High: Thomas Jefferson
Source: CVRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Virginia
- Richmond City
- Richmond
- 23220
- The Fan
- 1012 Park Ave
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