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    Richmond Duplex Ready For Renovation Title is generated by Realmo AI

    10 N Lombardy Street, Richmond, VA 23220

    View on Map
    Claim this Listing
    Pending
    $400,000

    MULTI_FAMILY - Other - Richmond, VA

    Property size:
    2,322 SF
    Lot size:
    0.03 Acres
    Added:
    Apr 25, 2026
    Days on Market:
    55
    Last Refresh:
    Jun 18 at 8:06 am

    Property Features for 10 N Lombardy Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Fencing
    Fenced
    Standard status
    Pending
    APN
    W000-0660-027
    Size
    2,322 SF
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    0020.75X0065.00 0000.000
    Tax Annual Amount
    5820

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Betsy Dotterer
    Betsy Dotterer

    Listing agent Betsy Dotterer License #0225075877

    Listing office The Steele Group 6726 Patterson Ave, Richmond, VA

    Listing date Apr 25, 2026

    MLS# 2610809 Listing URL

    Copyright © 2026 Central Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location flanked by single‑family homes
    • Potential for conversion to a single‑family home
    • Brick construction
    • Fenced property
    • Public water and sewer
    • On‑street parking

    Overview

    Located in Richmond, this duplex is flanked by single-family homes. The property requires a full renovation and has the potential to be converted into a single-family home. Sold in "as is" condition, this multifamily property offers 2,322 square feet of space on a 0.031-acre lot.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $46.8k $20.16
    − Vacancy −$3.0k −$1.31
    EGI $43.8k $18.85
    − OpEx −$13.1k −$5.65
    NOI $30.6k $13.19
    2,322 SF · lease $20.16/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $437.7K
    $383.0K – $510.6K (±1% cap)
    NOI $30,638 @ 7.0% cap · market cap 7.66%
    Second Best
    Apartment 5plus
    $410.9K
    $359.6K – $479.4K (±1% cap)
    NOI $28,766 @ 7.0% cap · market cap 7.19%
    Theoretical Best
    Office A
    $536.5K
    $469.4K – $625.9K (±1% cap)
    NOI $37,552 @ 7.0% cap · market cap 9.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.46093
    Latitude
    37.547828

    FAQs

    What type of property is this?
    Duplex - Duplex in Richmond, needs full renovation, sold as-is.
    Where is this duplex located?
    The property is located at 10 N Lombardy Street Richmond, VA.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: Prime location flanked by single‑family homes; Potential for conversion to a single‑family home; Brick construction
    More about this property
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