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1300 Porter ST Richmond, VA 23224
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Key Details
Sold Price $520,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Manchester
MLS Listing ID 2402984
Sold Date 04/05/24
Style Two Story
Construction Status Approximate
HOA Y/N No
Year Built 1916
Annual Tax Amount $5,328
Tax Year 2023
Lot Size 5,580 Sqft
Acres 0.1281
Property Description
ETS Restore & Construct is offering an incredibly rare opportunity to own a multi-unit property in Manchester! 1300 Porter St is an investor/developers dream! Not the mention a FANTASTIC 1031 EXCHANGE OPPORTUNITY. This stately, brick, Quadplex offers potential historical TAX INCENTIVES, is located in an OPPORTUNITY ZONE (when set up correctly can defer capital gains and then ultimately eliminate the capital gains tax altogether.) See packet for more information!
R-63 Zoning (this is a corner lot, so more potential uses!), Off street parking, $30,000 worth of feasibility already COMPLETED (including all drawings/MEPS), and city APPROVED building permit issued! There are so many ways to leverage this special property for optimal CASH FLOW! 1300 Porter St is already demoed for you and is a blank slate with endless potential ready for your vision or follow the APPROVED plans by the city. Especially for the long term investor! DON'T HAVE A CREW TO COMPLETE THE RENOVATION?! NOT A PROBLEM! There is a SOLUTION! PLEASE READ ALL INFORMATION IN PACKET ATTACHED FOR MUCH MORE DETAIL!
PROP HIGHLIGHTS: R-63 zoning, Corner lot/off street parking, Located in an OPPORTUNITY zone, HISTORICAL TAX incentives. ALL permits are approved and in place. Project management crew available if needed for an additional cost.
Location
State VA
County Richmond City
Community Manchester
Area 60 - Richmond
Direction I-64 E to I-195 S to City Stadium/Downtown exit to I-195 E to Commerce Rd turn right onto Porter St.
Rooms
Basement Full, Unfinished, Walk-Out Access
Interior
Interior Features High Ceilings
Exterior
Fence None
View Y/N Yes
View City
Roof Type Composition,Shingle
Porch Balcony, Rear Porch, Front Porch
Garage No
Building
Lot Description Corner Lot
Story 2
Sewer Community/Coop Sewer
Water Public
Architectural Style Two Story
Level or Stories Two
Structure Type Brick,Other
Construction Status Approximate
Schools
Elementary Schools Blackwell
Middle Schools River City
High Schools Armstrong
Others
Tax ID S000-0120-008
Ownership Partnership
Financing Cash
Read Less
Bought with United Real Estate Richmond