2308 5th Ave Richmond, VA 23222
Chestnut Hill NeighborhoodEstimated payment $2,072/month
About This Home
Located in Richmond’s rapidly evolving North Highland Park neighborhood, 2308 5th Avenue presents a turnkey investment opportunity in a city with a strong local economy and growing job market.
This duplex property features two fully leased 2-bedroom, 1-bathroom units, generating a gross monthly income of $2,025 per month in rental income (Unit A $850/Unit B $1,175). Market rents are $1,300 per month. A sister property next door, in similar condition and achieving the same market rents, was recently sold. Residents enjoy modernized interiors with central air, in-unit washer/dryer, dishwashers, and updated finishes. Tenants cover all utilities, including water, trash, and electricity, ensuring low owner expenses. Off-street parking in the rear adds to the property’s appeal.
Rents are below market and can easily be increased to market at the time of renewal. With North Highland Park experiencing increased investment and revitalization, this asset benefits from the area's continued appreciation. Whether you're a seasoned investor or looking to expand your portfolio, 2308 5th Avenue offers stable cash flow in a city primed for sustained growth.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,868
Year Built
- Built in 2007
Lot Details
- 6,286 Sq Ft Lot
Home Design
- Duplex
- Built-Up Roof
- Wood Siding
- Aluminum Siding
- Vinyl Siding
Interior Spaces
- 2,068 Sq Ft Home
- 2-Story Property
- Crawl Space
Schools
- Overby-Sheppard Elementary School
- Henderson Middle School
- John Marshall High School
Community Details
- 2 Units
- Chestnut Hills Subdivision
Listing and Financial Details
- Tax Lot 14
- Assessor Parcel Number N000-0611-020
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/08/2025 08/08/25 | Price Changed | $339,000 | -3.0% | $164 / Sq Ft |
| 07/23/2025 07/23/25 | Price Changed | $349,500 | -2.8% | $169 / Sq Ft |
| 06/02/2025 06/02/25 | For Sale | $359,500 | 0.0% | $174 / Sq Ft |
| 05/14/2025 05/14/25 | Pending | -- | -- | -- |
| 05/05/2025 05/05/25 | Price Changed | $359,500 | -4.1% | $174 / Sq Ft |
| 04/15/2025 04/15/25 | Price Changed | $375,000 | -2.6% | $181 / Sq Ft |
| 03/20/2025 03/20/25 | For Sale | $385,000 | +120.0% | $186 / Sq Ft |
| 12/16/2019 12/16/19 | Sold | $175,000 | +6.1% | $85 / Sq Ft |
| 10/21/2019 10/21/19 | Pending | -- | -- | -- |
| 10/01/2019 10/01/19 | For Sale | $165,000 | +19.2% | $80 / Sq Ft |
| 11/17/2014 11/17/14 | Sold | $138,400 | -18.1% | $67 / Sq Ft |
| 10/20/2014 10/20/14 | Pending | -- | -- | -- |
| 04/11/2014 04/11/14 | For Sale | $168,900 | -- | $82 / Sq Ft |
Source: Central Virginia Regional MLS
MLS Number: 2507069
APN: N-000-0611-020
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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