101 W Clay Street, Richmond, VA 23220

Property Description

Investment opportunity! 101 W Clay Street presents a compelling investment opportunity as a fully occupied, income-producing triplex in one of Richmond’s most recognizable neighborhoods, Jackson Ward. -- Originally built in 1859, this Italianate rowhouse with Greek Revival influence has performed well as a multi-family property, with solid rental income and low vacancy rates, while preserving its architectural character and honoring the neighborhood’s rich history. However, if that’s not what you are looking for, it could also be restored to the grand single-family residence it once was. Many of the original features that helped define the architectural fabric of Jackson Ward remain intact. Tall, narrow windows bring natural light into living spaces framed by wide plank wood flooring, detailed moldings, marble mantelpieces, and original pocket doors. Outside, the bracketed cornice and ornamental ironwork create curb appeal not found in many investment properties. -- The property has a strong rental track record and consists of three units: a 1,522sf 2BR apartment on the 1st floor, a 1,522sf 3BR apartment on the 2nd floor, and a 981sf 2BR apartment in the English basement. Residents are consistently drawn to the area by major employers like Dominion, CoStar, Altria, Markel, NewMarket, McGuireWoods, Truist, and Bank of America, alongside institutions such as VCU, VCU Health, the Capitol, and numerous Commonwealth of Virginia offices, not to mention premier performing arts venues including Brown’s Island, Allianz Amphitheater, The National, Dominion Energy Center, and the Altria Center. The rich array of restaurants, arts and culture venues, parks, the James River and other outdoor recreation nearby also contribute to the appeal. -- In addition to rental income, continued public and private investment throughout Jackson Ward and along the broader downtown Broad Street corridor could add potential for future appreciation as well.