421 9Th StCharlottesville, VA 22903
- Residential income properties
- 2,036 SF
Property Details for 421 9Th St
- Year built
- 1925
- Lot size
- 0.14 AC
- Property size (Sq ft)
- 2,036 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional 2-story apartment building at 421 9th Street in Charlottesville, Virginia, presents a compelling investment opportunity. Boasting 2,036 square feet on a 0.14-acre lot, this property offers significant potential for expansion and increased revenue. Built in 1925 and extensively renovated in 2005 (including a new tin roof), the building currently operates as a rental property, ideally situated for University students due to its proximity to the Dairy Market. The property is zoned RN-A, allowing for the development of up to five units on the lot. This zoning permits the preservation of the existing structure while adding up to three new units. A curb cut is already in place, simplifying the development process. Further unit expansion may be possible if the additional units meet affordability criteria for households at 60% of the Area Median Income. The asking price is $549,000, translating to $269.65 per square foot. This multifamily property in the vibrant University area of Charlottesville offers a rare blend of existing income and significant upside potential for savvy investors. The property's location, zoning, and renovation history combine to create a truly unique investment opportunity.
Location Insight
- City
- Charlottesville
- County
- Charlottesville
- State
- Virginia
- Latitude
- 38.0363
- Longitude
- -78.4901
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].