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$ 1,499,000
Est. payment | /mo
4,649 SqFt
$ 1,499,000
Est. payment | /mo
4,649 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,649 sqft
Price per Sqft $322
MLS Listing ID 2501299
Style Garden Home
Construction Status Actual
HOA Y/N No
Year Built 1893
Lot Size 6,534 Sqft
Acres 0.15
Property Description
Net Annual Income $95,729. Remarkable, mixed-use property in the heart of the Fan District located at the corner of Lombardy Street and Floyd Avenue. Owner will consider owner financing the laundromat business, valued at $350,000. Property consists of a low maintenance cash-flowing laundromat (commercial unit) and 3 residential apartments. Laundry machines are Speed Queen Quantum Gold and utilize the Laundry Boss platform. Purchasers will have the option to continue the business or redevelop. Well-maintained and renovated apartment units: Luxurious, 1st level owner's suite (APT 3) consists of hardwood floors, granite kitchen countertops, and in-unit laundry. 1 Bath,1-BDRM/Studio unit (APT 1) with LVP flooring and walk-in closet off en suite. Large, second-level 3 BDRM 2 full bath unit with newly renovated kitchen, LVP floors and rooftop deck. All utilities for the laundromat are separately metered, residential units share metering for water and electricity and are paid by the landlord. Additionally, a 1,200 sq ft storage room is located at the rear of the first level (not included in any unit's sq ft measurement) & accessible only by the landlord. Unique opportunity combines the option to continue a low-involvement business and passive real estate investment. Laundromat business valued at $350,000. Real Property valued at $1,149,000.
Location
State VA
County Richmond City
Area 10 - Richmond
Interior
Heating Individual, Wall Furnace
Cooling Central Air
Exterior
Exterior Feature Other
Fence None
Roof Type Flat,Rubber
Topography Level
Building
Lot Description Level
Building Description Brick, Multi-Tenant,No Elevators
Story 2
Sewer Public Sewer
Water Public
Architectural Style Garden Home
Level or Stories Two
Structure Type Brick
Construction Status Actual
Others
Tax ID W000-0662-025
Ownership Investment,Owner-User
Listed by Liz Moore & Associates