About This Home
This 0-bedroom, 0-bathroom multi-family at 5508 Grove Ave in Richmond, VA is listed for $1,195,000. Built in 1938, on a 0.15 acres lot.
Key Features
- Built in 1938
- 0.15 acre lot
- 2 stories
- Fireplace
Property Details
Amenities
5508 Grove Avenue - a lovely, fully renovated duplex just steps from the popular Libbie/Grove shops & restaurants. This brick & slate property has been completely renovated inside & out and is a wonderful opportunity to own a high-end, income-producing investment.
Live on one floor & rent out the other space, or rent both units. Total income for both units $6,500 per month. The lower unit is currently occupied until mid-January. Unit 1# (first floor): 2 bedrooms, 2.5 baths, entry fronts Seneca Road. The open-concept living room and kitchen has wood-burning fireplace, crown molding, hardwood floors.
Kitchen has large island with counter seating, granite and quartz counters. Renovated full baths and an added half bath. Larger bedroom has walk-in closet, stack washer/dryer, large bathroom. 2nd bedroom has built-in Murphy bed & attached full bath. Side porch, access to fenced back yard & patio.
Currently rents for $3,500 per month. Unit #2: (second floor) 2 bedrooms, 1.5 baths, entry fronts Grove, wood-burning fireplace, open-concept living/kitchen area (with fireplace). Large eat-in kitchen with center island, gas cooking, refrigerator, dishwasher, beverage refrigerator.
2 bedrooms, both equipped with built-in Murphy beds. California closets. Shared full bath between bedrooms, & half bath. New hot water heater. Stack washer/dryer. Side balcony overlooking Seneca. Typically rents for $3,000 per month. Overall property enhancements include:new rear patio, privacy fencing, new landscaping, new custom storm doors/fron
t doors per unit, new irrigation system, insulated replacement windows, California closets, separate utility metering for each unit, off-street parking added, new brick walkways at front & side of property, dehumidifier in crawlspace, designer lighting in both units, plantation shutters added, hardwood floors refinished, interior/exterior painted. Interiors have new baths, kitchens and have been renovated fully with newer HVAC, newer half baths, hot water heaters. Very unique opportunity!
Monthly Cost Estimate
$6,391/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
5508 Grove Ave
Richmond, VA 23226
Glenburnie
Features & Amenities
Interior Features
Exterior Features
Property Details
Construction
Parking
Questions & Answers
This 0-bedroom, 0-bathroom multi-family at 5508 Grove Ave is listed at $1,195,000. The estimated monthly payment is $6,392 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1938, 0.15 acre lot, 2 stories, Fireplace. Interior Features: EatInKitchen, Fireplace, GraniteCounters. Exterior Features: SprinklerIrrigation.
This property is listed by Eliza Branch and can be reached at 8885360216.
