USAVAPetersburg48 Gibbons Ave
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48 Gibbons Ave, Petersburg, VA

House

For Sale

Listed price in listed location currency (USD).
$1,150,000

000

MLS® 2611385

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 1082 sqft
Garage 
Taxes $1,166
Days Active 0
Lot Size 
Approx. Age 1954
Avg. Price Per Sqft $1,062
MLS® Number 2611385

Property Address: 48 Gibbons Ave, Petersburg, VA, 23803-3660

Average square foot calculated using Size range provided by listing agent.

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.
MLS® Number2611385
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1954
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 30, 2026List Date
$1,150,000List Price
  • Commute

Commute

Starting Address
Destination Address
48 Gibbons Ave, Petersburg, VA

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