102 Lombardy St Richmond, VA 23220

This iconic mixed-use property, situated at the corner of Lombardy Street and Floyd Avenue in Richmond's vibrant Fan District, presents a unique investment opportunity. The 4,649 square foot building sits on a 0.15-acre lot and comprises a thriving laundromat and three residential apartments. The laundromat, included in the sale, boasts new equipment utilizing the Laundry Boss platform, offering a current cash flow stream and the potential for continued operation or redevelopment. The sale includes all laundromat assets. Separate utility metering for the laundromat ensures efficient cost management. The three apartments are well-maintained and renovated, offering a mix of unit sizes and features. Apartment 3, a luxurious first-level owner's suite, features hardwood floors, granite countertops, and in-unit laundry. Apartment 1 is a one-bedroom/studio unit with LVP flooring and a walk-in closet. Apartment 2 is a spacious three-bedroom, two-bathroom unit on the second level, complete with a newly renovated kitchen, LVP flooring, and a private rooftop deck. Residential units share water and electricity metering, with costs covered by the landlord within the monthly rent. A sizable storage room, accessible only to the landlord, is located at the rear of the first level. The property generates a substantial net annual income of $100,665, combining the benefits of a low-maintenance, high-profit business with passive real estate investment. This is a rare chance to acquire a turnkey operation with significant upside potential. The asking price is $1,499,000.