1501 W Cary St Richmond, VA 23220
The Fan NeighborhoodEstimated payment $5,419/month
Highlights
- Deck
- Corner Lot
- Wood Siding
- Open High School Rated A+
About This Home
A truly unique mixed-use opportunity awaits just blocks from Virginia Commonwealth University (VCU) at 1501 W Cary St. This property boasts two newly renovated residential units, offering a prime location for students or professionals seeking a vibrant urban lifestyle. The ground floor presents two distinct commercial spaces. One is a well-appointed office ready for immediate use, with the flexibility for other ventures under the R-63 multifamily urban residential district zoning, which is designed to promote pedestrian-oriented, neighborhood-serving commercial uses on corner lots. The other commercial space is a blank canvas, a gutted cornerstone with a 10-foot commercial hood, providing an incredible opportunity for a local restaurateur or entrepreneur to create a new business from the ground up. The surrounding area, nestled in The Fan and a short distance from Carytown and Downtown Richmond, provides a fantastic blend of potential tenants, from university students to young professionals, and business owners. The blend of retail, dining, and cultural attractions creates a highly desirable and walkable neighborhood, ensuring a steady stream of foot traffic. This property offers the perfect blend of residential income and commercial potential in a highly sought-after location. Owner is licensed Real Estate Agent in VA. Agent has business interest in property.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,904
Year Built
- Built in 1900
Lot Details
- 3,537 Sq Ft Lot
- Corner Lot
- Level Lot
Parking
- Off-Street Parking
Home Design
- Quadruplex
- Brick Exterior Construction
- Rubber Roof
- Wood Siding
Interior Spaces
- 3,401 Sq Ft Home
- 2-Story Property
- Unfinished Basement
- Partial Basement
Outdoor Features
- Deck
- Exterior Lighting
Schools
- Fox Elementary School
- Albert Hill Middle School
- Thomas Jefferson High School
Utilities
- Gas Water Heater
Community Details
- 4 Units
Listing and Financial Details
- Assessor Parcel Number W000-0603-015
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $6,420 | $535,000 | $253,000 | $282,000 |
| 2024 | $5,904 | $492,000 | $210,000 | $282,000 |
| 2023 | $6,480 | $540,000 | $264,000 | $276,000 |
| 2022 | $6,480 | $540,000 | $264,000 | $276,000 |
| 2021 | $5,904 | $492,000 | $240,000 | $252,000 |
| 2020 | $2,952 | $492,000 | $240,000 | $252,000 |
| 2019 | $2,742 | $457,000 | $219,000 | $238,000 |
| 2018 | $5,268 | $439,000 | $207,000 | $232,000 |
| 2017 | $4,824 | $402,000 | $124,000 | $278,000 |
| 2016 | $4,824 | $402,000 | $124,000 | $278,000 |
| 2015 | $3,876 | $333,000 | $55,000 | $278,000 |
| 2014 | $3,876 | $323,000 | $55,000 | $268,000 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/04/2025 08/04/25 | For Sale | $899,950 | -- | $265 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $1,090,000 | Old Republic National Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $300,000 | Seller Take Back | |
| Open | $980,000 | New Conventional |
Source: Central Virginia Regional MLS
MLS Number: 2521937
APN: W000-0603-015
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All or a portion of th multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2025 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
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