Positioned on one of Richmond’s most iconic residential neighborhoods – the Fan, 1300 Floyd Avenue presents a rare opportunity to acquire a classic Fan District triplex directly adjacent to Virginia Commonwealth University. This stately brick property blends historic Richmond architecture with strong in-place cash flow and substantial rental upside. The property features three spacious apartment homes with an attractive unit mix ideal for students, young professionals, and long-term tenants seeking walkability to VCU, Carytown, the Fan’s restaurant scene, and downtown Richmond employment centers. The unit mix consists of a large one-bedroom apartment on the first floor with updated kitchen finishes, a spacious two-bedroom/two-bathroom apartment on the second floor, and a charming one-bedroom apartment occupying the third floor. All three units offer strong natural light, historic character, and layouts well suited for the urban renter profile driving demand throughout the Fan District. Current ownership has completed several meaningful capital improvements including new thermal sash windows, updated kitchens and appliances, new hot water heaters, and a recently completed modified flat roof with copper flashing. The property has been well maintained while still offering investors the opportunity to increase rents significantly over time.
Current rents are considered substantially below market for renovated Fan District apartments within immediate proximity to VCU that include all utilities.