618 S Laurel St, Richmond, VA 23220

Oregon Hill duplex with plenty of upside for someone willing to take on a construction project. The property currently generates $3,600 / month. Both leases good through June of 2025. Current rents are below market and could be raised after renovations. Tenants pay all utilities on separately metered units. Owner has received city approval to build an Accessory Dwelling Unit (ADU). The ADU would be a studio apartment built over a detached garage off the rear alley. Owner believes ADU and garage could generate an additional $1,500/month in rent. The ADU permitting and architectural drawings will convey with the sale. Proximity to VCU / MCV and downtown Richmond create exceptional demand and limited turnover with occasional vacancies quickly filled. This pedestrian friendly neighborhood offers quick access to the main campus of VCU and the James River Park system. This property is being sold "As-Is" no exceptions.