1. Virginia
  2. Richmond
  3. 102 N Lombardy St
$1,499,000

102 N Lombardy St, Richmond, VA 23220

  • 4,649 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1893
  • Property Lot Size Icon6,534sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $322/sqft
  • Property List Date Icon Listed 5 months ago

Property Description

100% Bonus Depreciation passed July 1, 2025. This law accelerates cash flow by allowing companies to deduct the full cost of qualifying capital investments immediately, improving after-tax income and freeing up funds. 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.

Listing Status:
Active
Listing Office:
Liz Moore & Associates : (804) 594-5870
Listing Agent:
Mike Morrow : (804) 317-4016
MLS ID:
2501299
  • A/C: Central Air
  • Heating: IndividualWall Furnace

This listing courtesy of Mike Morrow, Liz Moore & Associates

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

William Fox Elementary School

2300 Hanover Ave, Richmond, VA, 23220

Grades KG-5

0.58 miles away

B

Binford Middle School

1701 Floyd Ave, Richmond, VA, 23220

Grades 6-8

0.11 miles away

A

Amelia Street Special Education

1821 Amelia St, Richmond, VA, 23220

Grades PK-12

0.88 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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