645 W 18th Street

The building's unit mix comprises one multi-level one-bedroom/one-bathroom apartment and two multi-level loft-style units. Upon entry, these units greet you with abundant natural light from the wall of west-facing windows. All three units have unique elements, such as sculpturesque spiral staircases that lead to another level or the sleeping loft platforms. The front three-level unit allows the tenant to use either of the lower two levels as a workspace while maintaining a spacious private living area on the third floor. Heat is provided to the apartments through two separate furnaces while domestic hot water is provided by two Richmond Hot Water Heaters. The two first-level units have their own basement space, each housing a washer and dryer. The Subject Property presents an investor with the opportunity to acquire a well-located asset featuring spacious, loft-style units that have materially below market rents. The building is currently well-positioned for a new owner to increase rents significantly, by making only light cosmetic updates to the kitchens and bathrooms, and installing laundry in the rear second-floor unit. Additionally, an investor has the option to purchase the adjacent vacant lot, 643 W. 18th St.