102 N Lombardy St, Richmond, VA 23220
- 4,649 sqft
Commercial Property
Built in 1893
6,534sqft lot
—— car garage
$322/sqft
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
- Principal & Interest $
- Property Taxes $
- Home Insurance $
- VA Funding Fee $
Location
Schools Nearby
William Fox Elementary School
2300 Hanover Ave, Richmond, VA, 23220
Grades KG-5
0.58 miles away
Binford Middle School
1701 Floyd Ave, Richmond, VA, 23220
Grades 6-8
0.11 miles away
Amelia Street Special Education
1821 Amelia St, Richmond, VA, 23220
Grades PK-12
0.88 miles away