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$1,150,000
6 Days On Site

48 Gibbons Avenue
Petersburg, VA 23803

For Sale|Multi Family|Active
0
Beds
0
Total Baths
1,082
SqFt
$1,063
/SqFt
1954
Built
Subdivision:
None
County:
Petersburg
Listing courtesy of One South Commercial LLC (804) 307-4060
Call Now: 804-302-3000
Is this the listing for you? We can help make it yours.
804-302-3000
48 Gibbons Avenue48 Gibbons Avenue48 Gibbons Avenue48 Gibbons Avenue
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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.

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Listing Snapshot
Price 
$1,150,000
Days On Site 
6 Days
Bedrooms 
N/A
Inside Area (SqFt) 
1,082 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1263 Acres
Year Built 
1954
MLS® Number 
2611385
Status 
Active
Property Tax 
$1,165.86
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
6 days agoListing first seen on site
6 days agoListing updated with changes from the MLS®
General Features
Acres 
0.1263
Levels 
One
Number Of Stories 
1
Property Sub Type 
Multi Family
Sewer 
Public Sewer
Style 
Other
Water Source 
Public
Zoning 
R-2
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Exterior Features
Construction Details 
AsbestosFrame
Roof 
Composition
Community Features
MLS Area 
57 - Petersburg
Schools
School District
Unknown
Elementary School
Lakemont
Middle School
Vernon Johns
High School
Petersburg
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.



Last checked 2026-05-06 06:04 PM UTC.

Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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