108 N 7th Street, Richmond, VA 23219

Property Description

An exceptional opportunity to own a fully renovated mixed-use property, strategically located, versatile investment opportunity with strong income potential. Perfect for an owner-user or investor. This 2,520 SF building, excluding the unfinished basement, features a first-floor retail/office space (1260 SF) and two residential apartment units on the second floor. The front apartment Unit #1 (550 SF) is currently vacant, while the back apartment Unit #2 (600 SF) is leased $1,200 per month, w/ the tenant vacating 7/31/25. The area is supported by a strong mix of commercial office buildings and residential apartments, consistent foot traffic & visibility. Blocks away from restaurants, bars, and cafés. 10-minute walk, to VCU Hospital, Brown’s Island, Belle Isle’s scenic riverfront walking paths, and the highly anticipated outdoor concert amphitheater currently under development. 5 minute drive to VCU Campus. Built in 1917, full renovation 2016, including structural upgrades from the joists up. Roof membrane replaced in 2017, seam sealing completed in 2022. 2020 property underwent building-wide waterproofing, including the 3 permanent dehumidifiers, and sump pump. Retail HVAC blower replaced in Feb 2024 for improved climate control. The property is equipped with 4 electrical meters—one for each unit and a separate house meter servicing shared utilities such as hot water & dehumidifiers. Luxury plank vinyl flooring on the first level, floor outlets for added convenience, & fresh paint throughout. Recent exterior improvements include a new mortar brick back patio and wall, a fresh coat of exterior paint, a new awning at the front entrance, and a newly installed metal roof over the back patio. The main roof was also re-sealed, with 4 TPO vents added for improved ventilation. Property includes dedicated rear parking for two vehicles with direct access to the building’s back entrance. All apartment appliances convey, including washer, dryer, dishwasher, refrigerator, as well as 3 affixed dehumidifiers & 2 portable units.