For Sale
$1,125,000

512 Ridge StCharlottesville, VA 22902

Prime Development Opportunity: 1-Acre Lot

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Highlights

  • $1,125,000 asking price.
  • 1-acre residential land parcel.
  • R-2 zoning.
  • Potential for 13 luxury townhomes or 30 apartments (subject to 2024 zoning changes).
  • Existing duplex on site.
  • Walkable to downtown Charlottesville and UVA.

Property Details for 512 Ridge St

Property type
Land
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Charlottesville
County
Albemarle
State
Virginia
Latitude
38.0264669
Longitude
-78.4873099
512 Ridge St, Charlottesville, Virginia

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512 Ridge St
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