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48 Gibbons AVE Petersburg, VA 23803
1,082 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,082 sqft
Price per Sqft $1,062
MLS Listing ID 2611385
Style Other
Construction Status Approximate
HOA Y/N No
Year Built 1954
Annual Tax Amount $1,165
Tax Year 2025
Lot Size 5,501 Sqft
Acres 0.1263
Property Sub-Type Multi Family
Property Description
Turnkey Investment Offering Strong In-Place Cash Flow in a Rapidly Improving Market. Over the past two years, the current ownership has executed a comprehensive renovation strategy, transforming these assets from distressed condition into well-positioned, income-producing properties. Capital improvements include updated interiors, LVP flooring, modernized kitchens and baths, and the installation of central HVAC systems across all homes—a significant upgrade for this asset class. Most units also feature washer/dryer hookups, further enhancing tenant appeal and long-term retention. The portfolio is currently 100% occupied, generating strong in-place rental income with an attractive average rent per unit. This offering provides investors with day-one cash flow supported by a stabilized rent roll, while minimizing near-term capital expenditure risk due to recent renovations. Strategically located just south of Richmond, Petersburg continues to gain momentum as an emerging investment market. The area benefits from increasing renter demand driven by affordability, accessibility to major employment centers, and ongoing economic development initiatives—including the planned Live! Casino & Hotel Virginia project and continued revitalization of the historic downtown corridor. These factors position the market for continued rent growth and long-term appreciation. This portfolio presents an ideal opportunity for investors seeking scale in a growing submarket, with the ability to capture both strong yield
and future upside. Whether for a private investor or a group looking to expand a single-family rental platform, this offering delivers a compelling combination of stability, quality, and growth potential.
and future upside. Whether for a private investor or a group looking to expand a single-family rental platform, this offering delivers a compelling combination of stability, quality, and growth potential.
Location
State VA
County Petersburg
Area 57 - Petersburg
Exterior
Roof Type Composition
Garage No
Building
Story 1
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories One
Structure Type Asbestos,Frame
Construction Status Approximate
Schools
Elementary Schools Lakemont
Middle Schools Vernon Johns
High Schools Petersburg
Others
Tax ID 004-180006
Ownership Individuals
Listed by One South Commercial LLC
Nearby Locations
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