1012 W Franklin St

Richmond, VA 23220

$2,200,000
Price
11
Beds
8,296 Sq. Ft.
$265 / Sq. Ft.
8,296
Sq. Ft.
$265
per Sq. Ft.
Listed By Compass
Listed By Compass
a view of a brick building with large windows
front view of a building
a view of entryway with a front door
a living room with furniture and a window
a living room with furniture and a window
a kitchen with stainless steel appliances a refrigerator stove and microwave
a living room with furniture
a bathroom with a sink toilet and shower
a utility room with dryer and washer
an empty room with windows and fan
an empty room with windows and fan
an empty room with cabinet
a bathroom with a granite countertop sink a mirror and a bathtub
an empty room with wooden floor and windows
wooden floor in an empty room with a window
a bathroom with a sink a toilet a mirror and shower
a view of washer and dryer
an empty room with a ceiling fan and carpet
a bathroom with a granite countertop toilet a sink and a mirror
a view of an entryway with a window
a view of entryway and hall with wooden floor
a kitchen with stainless steel appliances granite countertop a refrigerator stove and sink
a view of an entryway with a door
a view of front door
a view of a kitchen with a sink
a view of a brick building with many windows
a view of a pathway along a building

Description

1012 W. Franklin St is one of Richmond’s most iconic Greystone/Granite buildings, ideally located in the popular Fan District just steps from VCU. This 8,298 sq. ft. property features SIX units, 18 bedrooms, 12 baths, plus 2 off-street parking spaces and a rear garage currently used as a workshop. 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 newer...1012 W. Franklin St is one of Richmond’s most iconic Greystone/Granite buildings, ideally located in the popular Fan District just steps from VCU. This 8,298 sq. ft. property features SIX units, 18 bedrooms, 12 baths, plus 2 off-street parking spaces and a rear garage currently used as a workshop. 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 newer roof (85% metal, 15% membrane). The property is fully leased and generates a monthly income of $14,375 and has been owned for 23 years with 100% occupancy. Notably, Unit 5 offers 1,516 sq. ft. with 3 bedrooms/2 baths ($2,505/mo) and Unit 6 offers 1,482 sq. ft. with 4 bedrooms/2 baths ($2,740/mo). 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 to all of the amenities the Fan has to offer.

Property Details for 1012 West Franklin Street

Architectural Style
Tri-Level
Subdivision Name
None
Waterfront
No
LISTING UPDATED: 11/25/2025 04:31 PM

Property Details for 1012 West Franklin Street

StatusActive
MLS #2525661
Days on Market29
Taxes$14,712 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quadruplex
Year Built1900
Lot Size0.11 AC / 4,599 SF
CountyRichmond Independent City

Location

Listing Courtesy of: .

Add your commute

Virtual Tour

Building Information for 1012 West Franklin Street

Stories4Residences4Year Built1900Building Size-Lot Size0.11 AC / 4,599 SF

Payment Calculator

$12,097 per month

30 year fixed, 6.28% Interest

Principal and Interest

$10,871

Property Taxes

$1,226

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1012 West Franklin Street

Summary
Location and General Information
  • City: Richmond
  • City Region: Fan
  • County Or Parish: Richmond City
  • Directions: GPS
  • Latitude: 37.550681
  • Longitude: -77.454222
  • Postal City: Richmond
  • Postal Code: 23220
  • Postal Code Plus4: 3735
  • State Or Province: VA
  • Unparsed Address: 1012 W Franklin St
  • Zoning Description: R-6
Taxes and HOA Information
  • Parcel Number: W000-0470-024
  • Tax Annual Amount: $14,712.00
  • Tax Assessed Value: $1,269,000.00
  • Tax Legal Description: 0030.00X0153.330000.000
  • Tax Year: 2025
School Information
  • Elementary School: Fox
  • High School: Thomas Jefferson
  • Middle Or Junior School: Dogwood
Parking
  • Attached Garage: No
  • Garage Spaces: 1
  • Garage: Yes
  • Parking Features: Detached, Garage, Off Street
  • Garage Parking Features: Detached, Garage, Off Street
Property
Lot Information
  • Below Grade Finished Area: 2243.0
  • Living Area: 8,296.00
  • Lot Features: Level
  • Lot Size Acres: 0.1056
  • Lot Size Area: 0.1056
  • Lot Size Units: Acres
  • Stories: 4
  • Stories Total: 4
  • Property Sub Type Additional: Quadruplex
Property and Assessments
  • Number Of Units Total: 4
  • Type of Property: Residential Income
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Year Built: 1900
  • Year Built Details: Actual
  • CLIP: 9,238,121,356
  • Development Name: Fan
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Fencing: None
  • Roof: Metal
Interior Features
  • Appliances: Electric Water Heater
  • Basement: Full, Finished
  • Basement: Yes
  • Bathrooms Full: 0
  • Bathrooms Half: 0
  • Bathrooms Total Integer: 0
  • BathsTotal: 0.0
  • Interior Features: Ceiling Fans, High Ceilings, Skylights, Cable Tv
  • Levels: Three Or More, Multi Split
  • Patio And Porch Features: Rear Porch, Deck, Front Porch
  • Window Features: Leaded Glass, Skylights
Multi Family
Unit 1
  • Unit Type Description 1: Dishwasher,Dryer Hookup,Electric Meter,Electric Stove,Refrigerator,Washer Hookup,Water Heater,Central Air,Electric,Heat Pump,Individual
  • Unit Type Actual Rent 1: $1,795.00
  • Unit Type Baths Total 1: 1
  • Unit Type Beds Total 1: 2
  • Unit Type Leased 1: Yes
  • Unit Type Num Full Baths 1: 1
  • Unit Type Num Half Baths 1: 0
  • Unit Type Area 1: 880.0
  • Unit Type Actual Rent Range 1: 1795
Unit 2
  • Unit Type Description 2: Dishwasher,Dryer Hookup,Electric Meter,Electric Stove,Refrigerator,Washer Hookup,Water Heater,Central Air,Electric,Heat Pump,Individual
  • Unit Type Actual Rent 2: $2,175.00
  • Unit Type Baths Total 2: 2
  • Unit Type Beds Total 2: 3
  • Unit Type Leased 2: Yes
  • Unit Type Num Full Baths 2: 2
  • Unit Type Num Half Baths 2: 0
  • Unit Type Area 2: 1200.0
  • Unit Type Actual Rent Range 2: 2175
Unit 3
  • Unit Type Description 3: Dishwasher,Dryer Hookup,Electric Meter,Electric Stove,Refrigerator,Washer Hookup,Water Heater,Central Air,Electric,Heat Pump,Individual
  • Unit Type Actual Rent 3: $2,680.00
  • Unit Type Baths Total 3: 2
  • Unit Type Beds Total 3: 3
  • Unit Type Leased 3: Yes
  • Unit Type Num Full Baths 3: 2
  • Unit Type Num Half Baths 3: 0
  • Unit Type Area 3: 1520.0
  • Unit Type Actual Rent Range 3: 2680
Unit 4
  • Unit Type Description 4: Dishwasher,Dryer Hookup,Electric Meter,Electric Stove,Refrigerator,Washer Hookup,Water Heater,Central Air,Electric,Heat Pump,Individual
  • Unit Type Actual Rent 4: $2,480.00
  • Unit Type Baths Total 4: 3
  • Unit Type Beds Total 4: 3
  • Unit Type Leased 4: Yes
  • Unit Type Num Full Baths 4: 3
  • Unit Type Num Half Baths 4: 0
  • Unit Type Area 4: 1248.0
  • Unit Type Actual Rent Range 4: 2480
Income and Expenses
  • Gross Income: $172,500.00
Rental
Rental Information
  • Price Per Area Unit: Dollars Per Square Foot

Property History for 1012 West Franklin Street

DateEvent & SourcePriceAppreciation
Sep 11, 2025

Listed (Active)

CVRMLS #2525661

$2,200,000—
DateEvent & SourcePrice
09/11/2025

Listed (Active)

CVRMLS #2525661

$2,200,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1012 West Franklin Street

Taxable ValueLand$184,000Additions$1,085,000Total$1,269,000
Tax Record2025$15,228 ($1,269 / month)
Home Facts
Baths7Total Finished SqFt6,055 SqFtAbove Grade Finished SqFt6,055 SqFtStories2Lot Size4,600 SqFtStyleMulti-Family Res (5+ Units)Year Built1900Year Renovated2000ZoningR-6 SINGLE FACountyRICHMOND CITYAPNW-000-0470-024Fireplace TypeHas Fireplace

Schools near 1012 West Franklin Street

This home is within Richmond City Public Schools.
Rating
School
Type
Grades
Distance
William Fox Elementary School
Public - PK to 5
Binford Middle School
Public - 6 to 8
Thomas Jefferson High School
Public - 9 to 12
Open High School
Public - 9 to 12
Rating
School
Distance
William Fox Elementary School
PublicPK to 5

Binford Middle School
Public6 to 8

Thomas Jefferson High School
Public9 to 12

Open High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

Explore Nearby Homes

More information about 1012 West Franklin Street, Richmond, VA 23220

1012 West Franklin Street is a multi-family home for sale in Richmond, VA 23220. This property was listed for sale on September 11, 2025 by Compass, it's currently listed at $2,200,000. This listing's school district is Richmond City Public Schools. Nearby schools include William Fox Elementary School, Binford Middle School and Thomas Jefferson High School. 1012 West Franklin Street is a 11-bed, 8-bath, 8,296 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: CVRMLS, Roanoke Valley Association of REALTORS (Roanoke, VA), LAR, Lynchburg Association of REALTORS® and Charlottesville Area Association of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CVRMLS, Roanoke Valley Association of REALTORS (Roanoke, VA), LAR, Lynchburg Association of REALTORS® and Charlottesville Area Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.