115 S South Street, Petersburg, VA 23803

Property Description

Updated Quadplex in Historic Petersburg – Strong Income & Long-Term Upside Located in the heart of Petersburg’s historic district, this well-maintained four-unit multifamily property offers an excellent opportunity for investors seeking stable cash flow with upside potential. The property has been thoughtfully updated within the last three years, blending historic charm with modern improvements. The quadplex is currently 75% occupied, with three tenants on newly signed one-year leases, providing immediate and reliable income. Each unit features functional layouts, and recent updates help reduce near-term capital expenses, making this a truly turnkey investment. A newly paved rear parking area provides approximately five off-street parking spaces, an added benefit rarely found in historic properties. Situated in a desirable historic area with ongoing revitalization, the property benefits from proximity to downtown Petersburg, major employers, dining, and commuter routes. Whether you’re expanding your portfolio or entering the multifamily market, this asset offers strong fundamentals, stabilized income, and future rent-growth potential. Don’t miss this opportunity to own a cash-flowing multifamily property in one of Petersburg’s most character-rich neighborhoods.