# 2115 Phaup Street, Richmond, VA 23223 > **TL;DR:** residential multi family, $989,000 ($153/sqft), built 1950, 6,448 sqft. Est. $5,289/mo. Listed 161 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $989,000 | | Price/sqft | $153 | | Square Feet | 6,448 | | Year Built | 1950 | | Lot Size | 11,661 sqft (0.27 acres) | | Stories | 2 | | Property Type | Residential Multi Family (Other) | | Status | Active | | Days on Market | 161 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $5,001 | | Estimated Insurance | $288 | | **Total** | **$5,289** | ## Nearby Schools - **Elementary:** Fairfield - **Middle:** Martin Luther King Jr. - **High:** Armstrong ## Property Highlights - Built in 1950 - 0.27 acre lot - 2 stories ## Description ### Agent Description Outstanding opportunity to acquire an investor friendly 9-unit multifamily asset with stabilized rental income and an appraisal-supported cap rate of approximately 8.5% and current seller-provided operating figures close to a 9.5% cap rate. With average rent at $1200 per unit this investment opportunity is strong and reliable. The two-story brick apartment building offers a practical and consistent unit mix with nine (9) 2-bedroom, 1-bath residences, each approximately 700 square feet, for a total building size of approximately 6,448 square feet on a 0.27-acre parcel. The property features a NEWER roof, NEW exterior access, durable brick construction, multiple unit entrances, and functional interior layouts that support long-term rental operations. The property offers a courtyard-style exterior, low-maintenance brick facade, and bright interior spaces. Select units feature hardwood or plank-style flooring, white kitchen cabinetry, electric range appliances, and neutral wall colors. The interiors provide simple, efficient layouts that allow for continued rental use while also presenting potential for future cosmetic updates or operational improvements. Tenants are responsible for heat and electric, while the landlord pays for water and trash removal. The property also offers some off-street parking, along with convenient access to nearby public transportation and Interstate 64. All units are tenant occupied with a strong rent roll. Recent improvements and area growth suggest potential upside through lease-up, rent optimization, or future improvements, subject to market conditions and applicable lease terms. With a consistent tenant base, low maintenance, and strong rental income this apartment building presents a compelling opportunity for investors seeking a multifamily property in the Richmond market. Reach out today! ## Location - **Address:** 2115 Phaup Street, Richmond, VA 23223 - **County:** Richmond City - **Neighborhood:** Woodville - **Coordinates:** 37.550474, -77.406879 - **Google Maps:** https://www.google.com/maps?q=37.550474,-77.406879 ## Listing Agent - **Name:** Sean Gould · **License:** 0225231787 - **Brokerage:** Hometown Realty Services - **Broker Phone:** (804) 249-6711 - **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/2115-Phaup-St_Richmond_VA_23223_M60122-07355?f=listhub&s=CVRMLS&m=2614044&c=propsimple) ## Photos ![2115 Phaup Street - Photo 1](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f3142207165r.jpg) ![2115 Phaup Street - Photo 2](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f754821382r.jpg) ![2115 Phaup Street - Photo 3](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f1638809038r.jpg) ![2115 Phaup Street - Photo 4](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f906917247r.jpg) ![2115 Phaup Street - Photo 5](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f861051838r.jpg) ![2115 Phaup Street - Photo 6](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f3728535436r.jpg) ![2115 Phaup Street - Photo 7](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f1518888885r.jpg) ![2115 Phaup Street - Photo 8](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f1038585220r.jpg) ![2115 Phaup Street - Photo 9](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f672499835r.jpg) ![2115 Phaup Street - Photo 10](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f2818572509r.jpg) ![2115 Phaup Street - Photo 11](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f614843434r.jpg) ![2115 Phaup Street - Photo 12](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f106241248r.jpg) ![2115 Phaup Street - Photo 13](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f1410205186r.jpg) ![2115 Phaup Street - Photo 14](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f3477873559r.jpg) ![2115 Phaup Street - Photo 15](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f366720818r.jpg) ![2115 Phaup Street - Photo 16](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f4230317203r.jpg) ![2115 Phaup Street - Photo 17](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f3749207313r.jpg) ![2115 Phaup Street - Photo 18](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f1446208081r.jpg) ![2115 Phaup Street - Photo 19](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f2368879584r.jpg) ![2115 Phaup Street - Photo 20](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f194317149r.jpg) ![2115 Phaup Street - Photo 21](http://lh.rdcpix.com/9ac192af77b99bb4b5ec4db917810275l-f233291406r.jpg) --- **MLS#:** 2614044 | **Updated:** 2026-10-29 **Source:** listhub *Copyright © 2026 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://staging.propertysimple.ai/listing/2115-phaup-street-richmond-va-23223-3d9f2565d511489c9da2e434d8c3f68f) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://staging.propertysimple.ai/listing/2115-phaup-street-richmond-va-23223-3d9f2565d511489c9da2e434d8c3f68f#listing", "url": "https://staging.propertysimple.ai/listing/2115-phaup-street-richmond-va-23223-3d9f2565d511489c9da2e434d8c3f68f", "name": "2115 Phaup Street, Richmond, VA 23223", "description": "Outstanding opportunity to acquire an investor friendly 9-unit multifamily asset with stabilized rental income and an appraisal-supported cap rate of approximately 8.5% and current seller-provided operating figures close to a 9.5% cap rate. With average rent at $1200 per unit this investment opportunity is strong and reliable. The two-story brick apartment building offers a practical and consistent unit mix with nine (9) 2-bedroom, 1-bath residences, each approximately 700 square feet, for a total building size of approximately 6,448 square feet on a 0.27-acre parcel. The property features a NEWER roof, NEW exterior access, durable brick construction, multiple unit entrances, and functional interior layouts that support long-term rental operations. The property offers a courtyard-style exterior, low-maintenance brick facade, and bright interior spaces. Select units feature hardwood or plank-style flooring, white kitchen cabinetry, electric range appliances, and neutral wall colors. The interiors provide simple, efficient layouts that allow for continued rental use while also presenting potential for future cosmetic updates or operational improvements. Tenants are responsible for heat and electric, while the landlord pays for water and trash removal. The property also offers some off-street parking, along with convenient access to nearby public transportation and Interstate 64. All units are tenant occupied with a strong rent roll. Recent improvements and area growth suggest potential upside through lease-up, rent optimization, or future improvements, subject to market conditions and applicable lease terms. With a consistent tenant base, low maintenance, and strong rental income this apartment building presents a compelling opportunity for investors seeking a multifamily property in the Richmond market. 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