2603 W Grace St Richmond, VA 23220
The Fan NeighborhoodEstimated payment $3,604/month
Highlights
- Front Porch
- Shed
- 1-Story Property
- Open High School Rated A+
- Awning
About This Home
Mixed use property in the Fan! Discover an exceptional investment opportunity with this mixed-use building zoned R-48, ideally located near the bustling intersection of Boulevard and Broad St. This property features two cozy efficiency apartments, each approximately 380 sqft and currently generating monthly rental income of $1,050 and $1,100. In addition, there is a versatile business office space, formerly a dentist office, spanning around 760 sqft. This area, which consists of six rooms and a half bathroom, offers the potential for conversion into a third apartment, maximizing your rental income. With a convenient rear parking lot accommodating 4-5 vehicles, accessibility is a breeze for both tenants and clients. Don’t miss out on this prime property that combines residential and commercial potential in a sought-after location! 24 hour notice required to show.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,168
Year Built
- Built in 1958
Lot Details
- 4,905 Sq Ft Lot
- Property fronts an alley
Parking
- Off-Street Parking
Home Design
- Triplex
- Brick Exterior Construction
- Frame Construction
- Shingle Roof
- Metal Roof
- Plaster
Interior Spaces
- 1,518 Sq Ft Home
- 1-Story Property
- Awning
Outdoor Features
- Exterior Lighting
- Shed
- Front Porch
Schools
- Fox Elementary School
- Dogwood Middle School
- Thomas Jefferson High School
Utilities
- Gas Water Heater
Community Details
- 3 Units
Listing and Financial Details
- Assessor Parcel Number W000-1169-012
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 | $6,168 | $514,000 | $315,000 | $199,000 |
| 2024 | $6,168 | $514,000 | $315,000 | $199,000 |
| 2023 | $5,484 | $457,000 | $288,000 | $169,000 |
| 2022 | $5,484 | $457,000 | $288,000 | $169,000 |
| 2021 | $5,448 | $454,000 | $245,000 | $209,000 |
| 2020 | $2,724 | $454,000 | $245,000 | $209,000 |
| 2019 | $2,442 | $407,000 | $221,000 | $186,000 |
| 2018 | $4,500 | $375,000 | $196,000 | $179,000 |
| 2017 | $4,500 | $375,000 | $196,000 | $179,000 |
| 2016 | $4,188 | $349,000 | $123,000 | $226,000 |
| 2015 | $1,992 | $332,000 | $123,000 | $209,000 |
| 2014 | $1,992 | $332,000 | $123,000 | $209,000 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/14/2025 03/14/25 | Price Changed | $585,000 | -2.5% | $385 / Sq Ft |
| 10/25/2024 10/25/24 | For Sale | $600,000 | -- | $395 / Sq Ft |
Source: Central Virginia Regional MLS
MLS Number: 2428193
APN: W000-1169-012
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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