512 Ridge Street Duplex and Land to build other apartments
Multi-Family
for Sale
| Catylist Listing ID: |
30330945 |
| Property Subtypes: |
Duplex/Fourplex, Mid-Rise
|
| Building Status: |
Proposed |
| Number of Units: |
2 Units |
| Building Size (RSF): |
1,626 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1 Acre
|
| Sale Price: |
$1,125,000 |
| Unit Price: |
$562,500 Per Unit |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/18/2023 |
Overview / Comments
Fantastic Development/Investment Potential. Currently has an existing over/under duplex on Ridge Street, and the extra land attached is ideal for future possible construction of new apartments or townhomes. Shown by appointment only, no visits to the property without agent knowledge or permission. Access off of city street. Walk to the downtown Charlottesville Mall and only minutes from the University of Virginia. The owner will cooperate with zoning change to obtain higher density for the construction of new units. With a 50% Down-payment, Owner Financing is Available! The owner may be willing to participate in a rezoning to achieve the highest density possible.
|
Additional Details
| Nearest MSA: |
Charlottesville |
| County: |
Charlottesville City |
| Taxing Authority: |
Charlottesville |
| Tax ID/APN: |
8712.000000000000000 |
| Zoning: |
R-2H |
| Property Located Between: |
Elliott Ave & Oak St, between Ridge St and the Cemetery |
| Total Number of Buildings: |
1 |
| Property Condition: |
Fair |
| Number of Stories: |
2 |
| Year Built: |
1957 |
| Roof Type: |
Gable |
| Construction/Siding: |
Block |
| Parking Type: |
Surface |
| Laundry: |
In Each Unit |
| Heat Type: |
Natural Gas |
| Heat Source: |
Baseboard |
| Fuel: |
Gas, Electric |
| Internet Access: |
Cable, DSL |
| Zoning Description: |
R-2H |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
25,154 |
69,741 |
88,263 |
| Median Age: |
29.58 |
31.31 |
33.52 |
| Households: |
9,766 |
27,218 |
35,026 |
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The information presented herein is provided as is, without warranty of any kind.
Neither Charlottesville Area Association of REALTORS nor
Moody's assume any liability for errors or omissions.
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