14 West Broad Street, Richmond, VA 23220

$2,430,000
List Price
$2,430,000
MLS#
1804812
Status
ACTIVE
Type
Commercial
Year Built
1917
County
Richmond
Region
10 - Richmond

Property Description

Located in the heart of the Arts and Cultural District, The Simon Cycle Building located at 10 and 12 West Broad offers a purchaser a stable investment along with good upside potential. Built circa 1904 and totally renovated in 2010-11, the developers / owners replaced all of the HVAC, Plumbing, Electrical, Kitchens and Baths and put on a new Roof. The building consists of 15 spaces – 14 apartments and 1 ground floor retail space currently leased by a gallery. There are 6 one-bedroom apartments, 6 two-bedroom apartments and 2 three-bedroom apartments. The apartments offer high ceilings with a loft style feel. They have hardwood floors, granite countertops, maple cabinets, exposed brick and stainless steel appliances. The units are in high demand in this area and the owner should enjoy increases annually as the neighborhood becomes more popular. (The Richmond Metro Area experienced the 5th highest rental increase by percentage in the country in 2017.)

Additional Information

Acres
0.1286
Lot Size
5,601
Exterior Features
Brick
Roof
Metal

Mortgage Calculator

Amount of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of One South Realty Group, LLC.

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All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listing are © 2018 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. Real estate properties marked with the Central Virginia MLS (CVRMLS) icon are provided courtesy of the CVRMLS IDX database. The information being provided is for a consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing. IDX information updated .