Renovated Historic 5-Unit Apartment Building
18 West Franklin Street Richmond Virginia 23220
$1,450,000
One South Commercial is pleased to introduce a rare investment opportunity in the heart of Richmond’s Monroe Ward neighborhood: a meticulously renovated historic 1800s era building featuring five (5) luxurious short-term rental units. Located at 18 W Franklin St, just east of the VCU campus, this elegant 3 story building seamlessly blends timeless architectural charm with modern sophistication and convenience, offering guests an unparalleled experience. Each unit boasts high-end finishes throughout, including new kitchens, spa-like bathrooms, and designer furnishings, ensuring a stay that epitomizes comfort and style. This immaculate renovation preserves the building’s historic character while incorporating contemporary amenities, making it a standout choice for discerning travelers.
With an excellent rental history and the ability to command top dollar rents, this property is a proven income generator. Its prime location near Richmond’s storied Jefferson Hotel and next to
the Downtown YMCA offers guests great proximity to a myriad of area amenities and renowned restaurants, enhancing its appeal. Nestled in one of Richmond’s most sought-after centrally
located neighborhoods, guests can enjoy easy access to the City’s vibrant arts scene along West Broad St, rich architectural fabric and streetscape throughout Monroe Ward, and some of Richmond’s most iconic restaurants including Stella’s Market, Perly’s, LeMaire, and Lillie Pearl. The area’s thriving tourism and business sectors ensure a steady stream of high-paying guests
seeking access to some of the City’s most treasured destinations, maximizing your return on investment. Don’t miss out on this unique chance to own a piece of Richmond’s history while capitalizing on a lucrative short-term rental market.
ABOUT MONROE WARD
Monroe Ward is a vibrant and historic neighborhood in the heart of downtown Richmond, offering a unique blend of urban energy and historic charm. Known for its late 19th and early
20th-century architecture, the area is a testament to Richmond’s rich history, featuring Victorian- era homes and well-preserved commercial buildings. Recent economic revitalization has transformed Monroe Ward into a hub for entrepreneurs and businesses. The proximity to Virginia Commonwealth University and downtown institutions has attracted young professionals, fostering a dynamic entrepreneurial scene. The neighborhood’s strategic location and easy access to transportation make it a prime choice for both residential and commercial development. Monroe Ward is celebrated for its diverse and welcoming community, with numerous events and festivals that highlight its cultural richness. A thriving arts scene, alongside diverse culinary offerings, provides a vibrant atmosphere for residents and visitors alike.
As Richmond continues to grow, Monroe Ward is poised for continued development, balancing historic preservation with new innovation. Its unique blend of history, culture, and opportunity makes Monroe Ward a key player in Richmond’s economic and cultural landscape.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
Born and raised on a Virginia farm just outside the City of Richmond, Lory Markham has always been fascinated by settlement patterns and how urban growth happens. Her professional history, market knowledge, and passion for making places better equip her to work toward the continued growth of Richmond.
Lory graduated summa cum laude from Hollins University and earned her MA in Urban and Environmental Planning at the University of Virginia’s School of Architecture. After two years at the Richmond Regional Planning District Commission, she continued her public service at the City of Richmond. As Principal Planner for the City of Richmond, Lory served as Secretary to the city’s Planning Commission and managed the review of all development projects in the City that needed special approval. Her contributions to development in the City were recognized in her selection as a “Top 40 Under 40” by Style Weekly.
After over a decade of experience in with the City of Richmond, Lory started a planning consulting company, Markham Planning, and joined One South Commercial as a commercial agent. Her extensive knowledge of the Richmond market, zoning and development review process, historic tax credits, and neighborhood development has made her a prominent figure in the Richmond real estate market. And her focus remains in making places better and maximizing their potential.
Ann Schweitzer Riley has become a distinguished figure in commercial real estate, focusing primarily on sales of urban commercial properties, including office spaces, retail locations, multi-family buildings, industrial facilities, and mixed-use developments. With a rich background that spans over a decade, Ann has developed a keen expertise in property sales, investment, and development.
A graduate of UVA, Ann’s journey in real estate began as a residential real estate appraiser in Charlottesville, VA. Her career path led her to roles as a legal assistant and later to Richmond in 2008, where she worked with an affordable housing nonprofit. There, she gained a passion for construction and real estate development. This foundation allowed her to excel as a real estate construction project manager and later as a corporate commercial sales agent.
Today, at One South Commercial, Ann is renowned for her sharp insights in market trends, her strategic approach to property disposition, and her ability to optimize asset value for her clients. Her comprehensive understanding of both residential and commercial real estate markets, combined with her specific expertise in commercial sales, makes her an invaluable partner to property owners and buyers alike.
Ann’s commitment to her clients and her profound market knowledge ensure tailored, effective strategies for those looking to invest in or divest commercial real estate assets.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
