Over/Under Duplex Near UVA and Fontaine Research Park

Multi-Family for Sale
Catylist Listing ID: 30681491
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden
Number of Units: 2 Units
Building Size (RSF): 2,664 SF
Gross Land Area: 0.26 Acres
Sale Price: $539,000
Unit Price: $269,500 Per Unit
Property Use Type: Investment
Building Name: 103 Westerly Avenue Unit A & B
Usable Size (USF): 2,664 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/12/2021

Overview / Comments

Don't miss this outstanding Over/Under Duplex located close to UVA and the Fontaine Research Park. Upstairs has 4 bedrooms with Lofts and vaulted ceilings and a large common area with LR, DR, Kitchen, Fireplace and Deck. Upstairs should rent for $2000 per month. Lower unit is identical except no lofts and rents for $1660 per month. Total projected income of $3660 per month makes this a winner. Recently refurbished and some work still in process. Upstairs now vacant ,purchase for your UVA Students or live up and collect lower unit rent. Both units have Heat Pumps, separate electric and water/sewer meters. New Heat Pump in one unit, new flooring, paint, etc. upstairs. Subject to an IRS 1031 Exchange. No sign on property,

Additional Details

Nearest MSA: Charlottesville
County: Charlottesville City
Taxing Authority: City of Charlottesville
Tax ID/APN: 17A049000
Zoning: R-2U
Percent Occupied: 100%
Property Located Between: UVA Research Park and Fry Springs Corner
Highway Access: Fontaine Avenue/ Westerly Avenue
Airports: CHO
Site Description: Over/Under Duplex on Wooded lot
Area Description: City location, Residential and Investment Street off of main corridor from US 29
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 1
Year Built: 1991
Year Renovated: 2020
Construction/Siding: Vinyl Siding
Exterior Description: Frame Construction with vinyl siding and concrete foundation, Composition/Asphalt Shingle Roof
Parking Type: Surface
Parking Description: 3 off street parking spots in large driveway on property , street parking also available
Total Parking Spaces: 3
Laundry: In Each Unit
Sprinklers: None
Heat Type: Other
Heat Source: Heat Pump
Fuel: Electric
Air Conditioning: Other
Internet Access: DSL
Interior Description: Efficiently designed spaces for Rental, each unit has a Great Room , open design, LR has fireplace and door to small deck overlooking the woods and DR and Kitchen with Breakfast bar, On each side of room is a door to a common hall for two bedrooms and a shared bath. Each bedroom has a upper loft with ladder large enough for a double bed mattress.
Zoning Description: R-2U
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple title
Legal Description: Lot 1B of Maury HIll or refer to TX MAP 17A049000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,404 62,235 90,487
Median Age: 23.75 30.95 33.87
Households: 3,791 23,678 35,601

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