About 102 N Lombardy Street
100% Bonus Depreciation passed July 1, 2025. This law accelerates cash flow by allowing companies to deduct the full cost of qualifying capital investments immediately, improving after-tax income and freeing up funds. Net Annual Income $95,729. Remarkable, mixed-use property in the heart of the Fan District, located at the corner of Lombardy Street and Floyd Avenue. Owner will consider owner financing the laundromat business, valued at $350,000. Property consists of a low-maintenance cash-flowing laundromat (commercial unit) and 3 residential apartments. Laundry machines are Speed Queen Quantum Gold and utilize the Laundry Boss platform. Purchasers will have the option to continue the business or redevelop. Well-maintained and renovated apartment units: Luxurious, 1st level owner's suite (APT 3) consists of hardwood floors, granite kitchen countertops, and in-unit laundry. 1 Bath,1-BDRM/Studio unit (APT 1) with LVP flooring and walk-in closet off en suite. Large, second-level 3 BDRM 2 full bath unit with newly renovated kitchen, LVP floors and rooftop deck. All utilities for the laundromat are separately metered, residential units share metering for water and electricity and are paid by the landlord. Additionally, a 1,200 sq ft storage room is located at the rear of the first level (not included in any unit's sq ft measurement) & accessible only by the landlord. Unique opportunity combines the option to continue a low-involvement business and passive real estate investment. Laundromat business valued at $350,000. Real Property valued at $1,149,000.
