512 Ridge StCharlottesville, VA 22902
- Residential income properties
- 1.00 AC
Property Details for 512 Ridge St
- Lot size
- 1.00 AC
- Property type
- Residential income properties
- Property subtype
- Other land
Description
Exceptional investment opportunity in Charlottesville, VA. This one-acre lot at 512 Ridge Street, zoned R-2, presents significant development potential. Currently featuring an existing over/under duplex, the property offers immediate income potential. The expansive lot allows for future construction, with plans potentially accommodating 13 luxury townhomes or approximately 30 apartments, based on anticipated 2024 zoning changes. Detailed architect plans and site plans are available for review. The property enjoys a highly desirable location, within walking distance of the downtown Charlottesville Mall and minutes from the University of Virginia. Access is convenient via a city street. The asking price is $1,125,000. The lease on the existing duplex expired on July 31, 2021. Ownership is held by Sidney Willis, LLC. Serious inquiries only; property viewings are by appointment only.
Location Insight
- City
- Charlottesville
- County
- Albemarle
- State
- Virginia
- Latitude
- 38.0265
- Longitude
- -78.4873
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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