Listing Agency: REAL ESTATE III, INC. t***@timcarson.com Show Phone

Listed By: Tim Carson · License #0225198839 Show Phone

Source: Moodyscre

Added: Oct 15, 2024 Changed: Jul 10 Last Checked: Jul 21 at 3:06AM

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Investment Insights

Based on property information with market context.

Located in the heart of Albemarle County's Urban Area, 1700-1704 Old Brook Road presents a unique investment opportunity. The expansive 7.9-acre property features two residences: a stately brick home and a separate cottage. Both residences require complete renovation. The existing dwellings total 3298 square feet. The land may allow for the development of one or two additional lots, subject to county guidelines. This property is suited for investors or contractors looking to rehabilitate and rent the two homes.

Key Highlights

• Expansive 7.9‑acre lot in Albemarle County's Urban Area.
• Potential for development of one or two additional lots (subject to county guidelines).
• Two residences on the property: a main brick home and a separate cottage.

Property Analytics

Property Profile

Current Use

Multifamily properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Catering Service Pet Grooming Service Storage Facility Florist HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

603

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two residences on 7.9 acres in Albemarle County.

Where is this multifamily property located?

The property is located at 1700-1704 Old Brook Rd Charlottesville, VA.

What is the asking price?

The asking price for this property is $780,000.

What are key features of this property?

This property features: Expansive 7.9‑acre lot in Albemarle County's Urban Area.; Potential for development of one or two additional lots (subject to county guidelines).; Two residences on the property: a main brick home and a separate cottage.