THE LEGEND RVA | 2810 Griffin Ave, Richmond, VA 23222 Fully Renovated 4-Unit Multifamily · Northside · Zero Deferred Maintenance Offering Price: $935,000 Units: 4 (1BR/1BA, 765–805 sq ft each) | Building: ~3,400 sq ft Price/Unit: $233,750 | Price/SF: ~$275 Lot: 5,951 sq ft (0.137 ac) | Built: 1916 | Renovated: 2023 (CO); in service since 2024 T-12 Actual NOI: $59,490 | In-Place Cap Rate: 6.4% (6.36%) Zoning: R-5; 4-unit legal non-conforming use confirmed by City of Richmond BZA ruling. City property class: Four Family. 2026 Assessed Value: $266,000 | Taxes: ~$3,192/yr Buyer's Broker: 2.25% ($21,037 at list), paid at settlement **Please note: offers must come from the end buyer or their licensed buyer's agent. The seller will not accept assignable contracts or wholesale arrangements.** EXECUTIVE SUMMARY The Legend RVA is a 1916 Northside quadplex rebuilt down to the studs, delivered with a 2023 Certificate of Occupancy and all work permitted and approved by the City of Richmond. Located two blocks from Battery Park, it offers a stabilized, low-maintenance alternative to the aging small multifamily stock that dominates Richmond. The building operates as a hybrid: two furnished mid-term (30+ night) units and two annual leases. Either furnished unit can be delivered vacant at closing, giving three paths: Passive Long-Term Hold: all four units on annual leases at $1,550–$1,600/mo for a 6.30% cap rate. Furnished Mid-Term: all four units at $2,250–$2,500/mo for a 7.14%–8.23% cap rate. House Hack: occupy a furnished unit with Fannie Mae 5% down owner-occupant financing while three units offset most of the debt service. INVESTMENT HIGHLIGHTS Studs-up reconstruction (2023 CO): all-new PEX/copper supply plumbing, new dedicated main sewer lateral, all-new electrical with 150A panels, foundation structural repairs, new Andersen 100 Series Fibrex windows. Separately metered electric: tenants pay heat, cooling, and power on long-term leases. Off-street parking: dedicated rear lot configured for four small-to-midsize vehicles. Proven mid-term rates: $2,025–$2,325/mo achieved, a $650–$950/mo premium over unfurnished comps. Low operating costs: ~$375/mo per furnished unit; T-12 repairs of $2,500. Low tax base: 2026 assessment of $266,000 keeps holding taxes at ~$3,192/yr. Proven occupancy: only one month of cumulative vacancy across long-term units in the trailing 12 months. Optional turnkey package available by separate bill of sale. RENT ROLL Unit 1: Furnished mid-term | ~$1,870 T-12 avg* | 30+ nights | Market: $2,250–$2,500 Unit 2: Furnished mid-term | ~$1,870 T-12 avg* | 30+ nights | Market: $2,250–$2,500 Unit 3: Long-term unfurnished | $1,550/mo | Annual lease from July 2026 | Market: $1,550–$1,600 Unit 4: Long-term unfurnished | $1,450/mo | Annual lease | Market: $1,550–$1,600 *Achieved contract rates $2,025–$2,325/mo. T-12 average reflects net collections including seasonal gaps and owner use. T-12 ACTUALS (SEPT 2025 – SEPT 2026) Furnished revenue (Airbnb net payouts + direct receipts): $44,849 Long-term collections: $34,225 Total Collected: $79,074 Furnished unit operating costs ($375/mo/unit): ($9,000) Water/trash, long-term units: ($1,080) Taxes (2026 assessment x $1.20/$100): ($3,192) Insurance (in-place policy): ($3,812) Repairs & maintenance: ($2,500) T-12 Net Operating Income: $59,490 | Cap Rate: 6.36% (~6.4%) PRO FORMA (ANNUAL, AT IN-PLACE TAXES) All Long-Term: Gross $75,600; vacancy 5% ($3,780); water/trash ($2,160); taxes ($3,192); insurance ($3,812); repairs 5% ($3,780) - NOI $58,876 | 6.30% Cap Rate All Mid-Term: Gross $108,000–$120,000; vacancy 10% ($10,800–$12,000); unit costs ($18,000); taxes ($3,192); insurance ($3,812); repairs 5% ($5,400–$6,000) - NOI $66,796–$76,996 | 7.14%–8.23% Cap Rate Conservative Case (Taxes at full $935k, ~$11,220): Long-Term $50,848 / 5.44% | Mid-Term $58,768–$68,968 / 6.29%–7.38% Assumes self-management; budget 8–10% (long-term) or 15–20% (mid-term) for third-party management. Long-term assumes $1,575/unit average. Tax Note: Richmond assesses annually by neighborhood mass appraisal, not by resetting individual parcels to purchase price. The assessment rose from $246,000 (2024) to $266,000 (2026). The conservative case is provided for institutional stress-testing. BUILDING SYSTEMS & CAPITAL IMPROVEMENTS Plumbing: all-new PEX/copper supply; new dedicated main sewer lateral to the municipal connection. Electrical: all-new service; independent 150A panels and separate meters per unit. Structure & Envelope: foundation structural repairs completed; well-maintained modified bitumen roof; new Andersen 100 Series Fibrex windows throughout. HVAC: dual-zone Mitsubishi mini-splits in every unit (installed 2018). Tech: Cat 6A ethernet in every room; Schlage Encode WiFi locks; three wall-mounted Samsung 4K TVs and a 4K monitor per unit; Alexa in each room. Finishes: Dimplex Revillusion linear fireplaces in each unit. Outdoor: 600+ sq ft concrete patio, professionally designed rear common area, fire pit, grill, ActiveYards vinyl privacy fence. OPTIONAL TURNKEY PACKAGE (SEPARATE BILL OF SALE) Complete designer FF&E, curated art, linens, and outfitted kitchens; the Legend RVA brand, domain, and direct-booking website; and 17 five-star Google reviews. DUE DILIGENCE & SHOWINGS All units are in use (leased, booked, or owner-occupied). Initial evaluation is by 4K video walkthrough; on-site inspections for vetted buyers and brokers with proof of funds or lender pre-approval. Available on request: T-12 P&L, leases, utility history, 2023 Certificate of Occupancy, and the BZA ruling.