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Property profile & analytics
OFF-MARKET
Estimated value
$2,095,000
Apartment buildings
459 Locust Ave Charlottesville, VA 22902-4871
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-1546070
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1928
Total area
238,642 SF
Lot
1.21 ac (52,708 SF)
Zoning code
NX-8
APN
530234000
UPID
US87-1546070
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mildonian Matthew J Physician
-
Breaux Jack L MD Physician
-
APARTMENTS Apartment Building
-
Dr. Wendy R. Regal, MD Physician
-
Dr. Michael R. Baylor, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.10M
Owner & transaction history
MJH ACQUISITION, LLC
MJH ACQUISITION, LLC
Zoning & alternative use
NX-8 · Charlottesville, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Charlottesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Charlottesville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$9 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$210,001
Tax year 2023
Assessed value
$8,950,000
Assessed 2024
Previous assessed
$33,959,700
-73.6% YoY
Effective rate
2.35%
On assessed value
Assessed land
$2,032,300
Assessed improvement
$6,917,700
Land market value
$2,032,300
Improvement market value
$6,917,700
Total market value
$8,950,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1928
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
238,642 SF
Lot
1.21 ac (52,708 SF)
Zoning code
NX-8
APN
530234000
UPID
US87-1546070
Jurisdiction
CHARLOTTESVILLE CITY
Zoning & alternative use
NX-8 · Charlottesville, VA
Zoning NX-8 · permitted uses
NX-8 · Charlottesville, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Charlottesville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1928
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.21 ac
Current owner
From public records · entity-resolved
MJH ACQUISITION, LLC
Entity
Free & Clear · 0 yrs held
Mailing address
126 GARRETT ST STE G, CHARLOTTESVILLE, VA 22902-5600
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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