Triplex With Up To Five
For Sale
$800,000
1318 DANDRIDGE STREET, Fredericksburg, VA 22401
Triplex near University of Mary Washington and Mary Washington Hospital with recent HVAC, flooring, and electrical work started.
Property Size4,723 SF
Price / SF$169.38
Days on Market64
Property Features for 1318 DANDRIDGE STREET
General Information
Standard status
Active
Size
4,723 SF
Property subtype
Triplex
Building Details
Building Size
4,723 SF
Year Built
1949
Buildings
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(571) 201-5909
Listed By:
Amit Lall · License #0225220664
(571) 201-5909
Source:
Kerishull
Added: May 29
Changed: Jul 30
Last Checked: Jul 31 at 11:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices PenFed Realty
Investment Insights
Based on property information with market context.
This triplex at 1318 Dandridge Street is configured as three separate living areas, with stated potential to create up to five rental units depending on how the property is completed and occupied. The main house offers 2 bedrooms and 1 bath. There is a 1-bedroom, 1-bath upstairs unit and a 1-bedroom, 1-bath basement unit. A rear building provides an additional 2-bedroom, 1-bath layout. The property was built in 1949 and contains 4,723 SF.
Recent improvements include three new HVAC systems, a new water heater, all-new luxury vinyl plank flooring throughout, and updated drywall replacing original wood paneling. Electrical upgrades have been started, including installation of a new service panel; however, the work was not completed and will require permits and completion by the new owner.
The property is being sold strictly AS IS. Buyer to perform all due diligence regarding zoning, unit count, permits, and intended use.
Recent improvements include three new HVAC systems, a new water heater, all-new luxury vinyl plank flooring throughout, and updated drywall replacing original wood paneling. Electrical upgrades have been started, including installation of a new service panel; however, the work was not completed and will require permits and completion by the new owner.
The property is being sold strictly AS IS. Buyer to perform all due diligence regarding zoning, unit count, permits, and intended use.
Key Highlights
- Triplex configured with potential for up to five rental units depending on strategy and occupancy
- Main house 2 bed 1 bath plus upstairs 1 bed 1 bath and basement (2) 1 bed 1 bath
- Rear building 2 bed 1 bath
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.5k | $16.20 |
| − Vacancy | −$5.4k | −$1.15 |
| EGI | $71.1k | $15.05 |
| − OpEx | −$21.3k | −$4.51 |
| NOI | $49.7k | $10.53 |
4,723 SF · lease $16.20/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$710.6K
$621.8K – $829.1K
NOI $49,745 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$654.9K
$573.1K – $764.1K
NOI $45,846 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,633 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Explore this area
Business Placement
Demographics for 22401, VA
27,799
Population
12,270
Households
2.3
Avg Household Size
32
Median Age
47%
College-Educated
93%
High-School Grad
10.4 sq mi
ZIP Area
2,673
Density / Sq Mi
$85,432
Median Household Income
$46,891
Median Earnings
$1,518
Median Rent
$461,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex near University of Mary Washington and Mary Washington Hospital with recent HVAC, flooring, and electrical work started.
Where is this triplex located?
The property is located at 1318 DANDRIDGE STREET Fredericksburg, VA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Triplex configured with potential for up to five rental units depending on strategy and occupancy; Main house 2 bed 1 bath plus upstairs 1 bed 1 bath and basement (2) 1 bed 1 bath; Rear building 2 bed 1 bath
