48 Gibbons Avenue, Petersburg, VA 23803
None · Petersburg County
Key Facts
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.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Style
Other
Year Built
1954
Stories
1
Living Area
1,082 sq ft
Lot Size
0.13 acres
Ownership
Individuals
Days on Market
37
MLS® Listing#
2611385
Property Features
- Construction:
- Asbestos, Frame
- Roof:
- Composition
- Sewer:
- Public Sewer
- Water Source:
- Public
Schools
- Elementary:
- Lakemont
- Middle:
- Vernon Johns
- High:
- Petersburg
HOA & Tax
- Annual Tax:
- $1,166 (2025)
- Assessed Value:
- $91,800
- Parcel #:
- 004-180006
Affordability Calculator
$230,000
Estimated monthly payment
$6,121/mo
Principal $920,000 · Est. interest $1,283,482 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Petersburg, VA
- $278,261
- Median Listing Price
- 40
- Median Days on Market
- 1,610
- Median Sq Ft
- $173
- Median Price / Sq Ft
- 158
- Active Listings
- This home’s price is 313% above the area median.
- Its price per sq ft is 515% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Petersburg, VA.
Location
- 48 Gibbons Avenue, Petersburg, VA 23803
Walk Score
Nearby Schools
Robert E Lee Elementary School
Elementary · 0.1 mi away
Lakemont Elementary School
Elementary · 0.1 mi away
Saint Joseph Catholic School
Elementary · 1.6 mi away
Colonial Heights Middle School
Secondary · 1.7 mi away
Albc School
School · 1.8 mi away
Communities in Schools - Petersburg
School · 2.0 mi away
Petersburg City Public Schools
School · 2.0 mi away
Colonial Heights Public Schools
School · 2.0 mi away
Appomattox Regional Governor's School
Secondary · 2.2 mi away
Walnut Hill Elementary School
Elementary · 2.3 mi away
Colonial Heights Vo Tech Center
School · 2.4 mi away
Peabody Middle School
Elementary · 2.4 mi away
Wiz Kidz Learning Center
School · 2.4 mi away
Colonial Heights High School
Secondary · 2.5 mi away
Billups T&C
School · 2.6 mi away
Ettrick Elementary School
Elementary · 3.1 mi away
Westview Early Childhood Education Center
School · 3.1 mi away
Lakeview Elementary School
Elementary · 3.2 mi away
William A Walton Elementary School
Elementary · 3.3 mi away
Specialized Youth Services Day School
School · 3.3 mi away
Commute Calculator
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Moving Cost Estimate
EXIT Agents in Petersburg
Listing Courtesy: One South Commercial LLC - 8042668831
Presented by: Justin Sledd
Last Updated: 2026-03-25