48 Gibbons AVE, Petersburg, VA 23803
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48 Gibbons AVE, Petersburg, VA 23803
48 Gibbons AVE, Petersburg, VA 23803
48 Gibbons AVE, Petersburg, VA 23803
48 Gibbons AVE, Petersburg, VA 23803
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Emily Carter

Emily Carter

Jim & Pat Carter Real Estate, Inc.

+1(804) 436-4949
$ 1,150,000
Est. payment /mo
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Active

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.

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

Central Virginia Regional MLS (CVR MLS)
Listed by One South Commercial LLC

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48 Gibbons AVE

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Emily Carter

Emily Carter

+1(804) 436-4949

Principal Broker | Unknown0225024367

Principal Broker Unknown0225024367

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