Completely renovated in 2003, the Property has provided reliable cash flow for its past and current owners, but as the submarket evolves the property presents a new owner with several opportunities to significantly grow bottom line income. The current owners have invested extensively in building systems, leaving elective income generating upgrades on the table for a new owner.
SEVENTEENTH STREET LOFTS’ close proximity to hundreds of bars and restaurants, the riverfront of the James, and Richmond’s Central Business District, make this an ideal property for an investor looking to take advantage of all the rich amenities that Richmond has to offer.
-New roof and split system heat pumps
-Type IV construction (masonry exterior with heavy timber interior structural members)
-PVC waste, copper domestic water supply
-Fully sprinklered, smoke detectors in units and corridors
-Units individually metered for electricity
-Unit count per floor: ground (5 apartments), first floor (5 apartments), second floor (four apartments), third floor (5 apartments), and fourth floor (5 apartments)