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48 Gibbons Avenue, 
Petersburg, VA 23803

$1,150,000


Bed


Bath


1,082

Sq Ft


Multi-Family

Active

Listed by

Justin Sledd

One South Commercial LLC.

804-266-8831

Last updated:

May 11, 2026, 02:33 PM

MLS#

2611385

Source:

RV

About This Home

48 Gibbons Avenue

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.

Home Facts

Multi-Family

Built in 1954

Price Summary

1,150,000

$1,062 per Sq. Ft.

MLS #:

2611385

Last Updated:

May 11, 2026, 02:33 PM

Added:

1 month(s) ago


Rooms & Interior

Interior

Living Area:

1,082 Sq. Ft.


Structure

Structure

Building Area:

1,082 Sq. Ft.

Year Built:

1954


Lot

Lot Size (Sq. Ft):

5,501


Finances & Disclosures

Finances

Price:

$1,150,000

Price per Sq. Ft:

$1,062 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.