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235 Grove Ave
Petersburg, VA 23803
Historic QUAD Old Town Petersburg · Multifamily Property For Sale · 4 Units

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INVESTMENT HIGHLIGHTS

  • Historic Tax Credit Location/Building.
  • Close to VSU and Old Towne Petersburg.

EXECUTIVE SUMMARY

*Petersburg Best Buy- Historic QUAD*
Historic QUAD available in Old Towne Petersburg. This fabulous property has 4 units, there are 2- two-bedroom units and 2- studio or 1-bedroom basement units. This property backs up to the Appomattox River, and is a short walk to Old Towne Petersburg, and just minutes from VSU. This property is in an historic tax credit location, so if restored correctly, possible to get up to 45% of repairs back in state and federal tax credits. Seller stabilized property and started renovations. Great college rental property, great location for an Airbnb or short-term rental property. Don't wait, drive by and take a look today.

PROPERTY FACTS

Price Per Unit $107,195 CAD
Sale Type Investment
Cap Rate 18.80%
Sale Conditions
1031 Exchange
  • Building in Shell Condition
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Low-Rise
Lot Size 0.24 AC
Building Size 5,072 SF
Average Occupancy 0%
No. Stories 2
Year Built 1800
Zoning MXD2 - Multi Family Dwelling

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 2 $1,383 CAD 720
2+1 1 $2,352 CAD 1,664
2+1 1 $2,352 CAD 1,664

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
010-09-0007
Land Assessment
$33,420 CAD
Improvements Assessment
$136,217 CAD
Total Assessment
$169,636 CAD
  • Listing ID: 38418436

  • Date on Market: 2025-11-12

  • Last Updated:

  • Address: 235 Grove Ave, Petersburg, VA 23803

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