3110 East Broad St, Richmond, Virginia 23223$525,000
Step into fun along with a bit of history in this Italianate Church Hill home at 3110 East Broad Street. Located in the St. Johns Church Historic District, it's half a block from Chimborazo Park with it's
expansive views - don't forget the dog park too! It is also steps from Church Hill's numerous and award winning restaurants. Wouldn't it be great to be able to walk to dinner and enjoy some wine? Possibilities include at Dutch & Co., The Roosevelt, Alewife, Nile, Proper Pie and Metzgers, to name a few.
This historic home is conveniently located a mile from downtown. This means easy access to I-95, I-64, 195. You can walk to MCV and the Capitol and even Main Street Station, Shockoe Bottom and the 17th St Market.
Don't miss the neighborhood festivals that make Church Hill such a wonderful place to live. Hogtoberfest is not to be missed if you enjoy BBQ and beer. The Irish Festival brings lots of familly fun. Don't forget the Annual Holiday Tour in December, with vespers, the candlelight walk with Carols in Libby Park and the neighborhood home tour with fabulous Holiday Decorations.
Built in 1897, this charming 4 bedroom home has tons to offer! It has 2 sets of working pocket doors, original mouldings, heart pine floors and 5 fireplaces. If you enjoy period finishes, this house is a find!
The piece de resisance of this home is that it has a very rare, two story carriage house! This building is over 1100 square feet of potential! This would make the square foot price for this property only $136! While this conveys "As Is", its a wonderful opportunity to earn Historic Tax Credits and Tax Abatement, while upgrading your way to possible rental income! One of the neighbor's has a similar carriage house that is renovated and gets almost $100 a night from AirBnB!
Because 3110 East Broad Street is in the St Johns Church Historic District, you can potentially get up to 25% of the money you spend on updates back in State Tax Credits, which can be applied to your state income tax over the next ten years or until the credit is gone (whichever comes first). Since the carriage house has rental potential you may be eligible for Federal Tax credits as well! You can see more information about it at the Department of Historic Resources Website.
It is also eligible for tax abatement on property taxes from the City of Richmond. They assess the value of the home before you start the renovations and then come back and assess the value after the renovations are complete. The abatement will last 7 years at 100% and will decrease 25% for the next 3 years for a total of 10 years in savings. This can transfer to another owner if you decide to sell your home before the abatement has been used. You can view the flyer here.
Don't miss out on this fabulous opportunity in this jewel of a neighborhood!
Property Status: For Sale
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3110 East Broad St, Richmond, Virginia 23223
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