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116 Franklin St, Suffolk, VA 23434

$485,000

Last sold 10/03/2025 after 401 Days

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bed
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bath

Apartments 3+ not for sale

About 116 Franklin St

Property type Apartments 3+

Neighborhood

Year built 1882

HOA fee $0/month

Rental estimate

Property description

Own a piece of history! The Causey-Kendrick House is a 5-unit apartment building and Carriage House (detached garage, sold AS-IS). Carriage House offers future opportunities for storage rental or additional units. There is a shared on-site laundry room with potential for additional income with coin operated washer & dryer. Ample street parking and close to public parking lots. Driveway access currently rented with one unit. Currently 100% occupied with leases through 2026. Owner pays water bill, refuse, and storm water. Some tenants pay electric with some have it included. Whole building renovated in the past 5 years to include new paint, flooring, granite countertops, appliances, central air in largest unit, all windows, and more! This is a turnkey opportunity with over 60k in NOI with room for additional income. APPROX 4440 square feet in FIVE units. 4-1BD/1BA units and 1- 3BD/1BA unit with approx. 1600 sq. ft. of living space.

Listed by

Listing Agent - Leslie Holthoff Martin

Listing Office - Fit Realty

Source: REIN

MLS#10577982 • last updated 1 year ago

Movoto checked REIN for data 5 minutes ago

Overview
Levels/Style	2
MLS #	10577982
Year Built Approx	1882
Status	New Listing
SubType	Converted Single Fam
Property Type Cross Prop	Apartments 3+
Property Type	Apartments 3+
Property Tax	13667

Interior

Exterior
Foundation	Crawl
Units Total Number	5

Amenities / Utilities
Water Heater Type	Electric

Location
Area	62 - Central Suffolk
County	Suffolk VA
High School	Kings Fork
Elementary School	Hillpoint Elementary
Middle School	King`s Fork Middle
Subdivision	OLD TOWN SUFFOLK

Rental est.: $1,483/month

• Gross rent multiplier: 27.2

Lower your payment with the loan terms that fit you.

Mar 2019
Public Records
Mar 25, 2019 Sold
$114,000 (-3.4%)

Year Property taxes Tax assessment
2025
$3,206 +17.3%

$172,300 +6.29%
2024
$2,733 +2.0%

$162,100 +3.12%
2023
$2,681 +5.4%

$157,200 +10.94%
2022
$2,544 +61.7%

$141,700
2021
$1,573

$141,700
2020
$1,573 +47.8%

$141,700
2012
$1,064

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116 Franklin St
$485K
Downtown Suffolk
$279K -19% y/y
23434
$416K +2% y/y
Suffolk
$492K +3% y/y

No chart available

Statistics calculated by Movoto

	Est. value	Bed/bath	Sqft	mi
149 N Main St, Suffolk, VA 23434	$249,000	—/—	1,400	0.17
147 N Main St, Suffolk, VA 23434	$227,000	—/—	1,968	0.18
139 N Main St, Suffolk, VA 23434	$136,000	—/—	486	0.18
141 N Main St #b, Suffolk, VA 23434	$202,000	2/2	1,271	0.18
141 N Main St #c, Suffolk, VA 23434	$177,000	2/1	805	0.18
141 N Main St #a, Suffolk, VA 23434	$175,000	2/2	972	0.18
137 N Main St #c, Suffolk, VA 23434	$192,000	2/2	1,092	0.19
137 N Main St #a, Suffolk, VA 23434	$218,000	2/2	999	0.19

Estimated values are based on public record data and automated valuation models. Values are not guaranteed and may not reflect current market conditions.