Information Charlottesville

The fourth month of 2021 continued an active trend, with many single-family homes and their lots selling well over this year’s assessment.

With the exception of the purchase of a retail strip on Cherry Avenue, there were not many major transactions involving commercial real estate. Unless you count some of the purchases of residential properties by LLCs. 

As the community considers the update of the Comprehensive Plan and the subsequent rewrite of the zoning code, paying attention to property transactions may give more perspective of what’s happening on the ground. 

What will May bring? Check back next week.

• January transactions
• February transactions
• March transactions

April 1, 2021

• A single-family home in the Locust Grove neighborhood on Marshall Street sold for $630,000. That is 17.36 percent over the 2021 assessment and 22.31 percent over the 2020 assessment. 
• A condominium in the Charlottesville Towers on 511 First Street North sold for $193,500. That is 24.76 percent over the 2021 assessment. 
• A single-family home on Highland Avenue in Fry’s Spring sold for $361,000, or 4.52 percent under the assessment. 
• A 1920 structure on Chancellor Street off of the UVA Corner sold for $1.1 million to Jefferson Street Properties LLC. The transaction is 27.29 percent over the assessment. 
• Woodard Properties purchased the Cherry Avenue Shopping Center and vacant land directly behind the retail strip built in 1965. The vacant land sold for $1.4 million, which is 159.93 percent over the combined 2021 assessment of $538,600. 
  • 513 7 ½ Street is a 0.142 acre lot zoned R-2 and has a 2021 assessment of $89,300
  • 0 Elm Street is a 0.7962 acre lot zoned MLTP and has a 2021 assessment of $161,700
  • 0 Elm Street is a 0.148 acre lot zoned R-2 and has a 2021 assessment of $89,300
  • 0 Elm Street is a 0.258 acre lot zoned R-2 and has a 2021 assessment of $89,300
  • 725 Elm Street is a 0.207 acre lot zoned R-2 and has a 2021 assessment of $110,000
• The Cherry Avenue Shopping Center itself sold for $1.9 million. That is 28.41 percent over the 2021 assessment for the 1.165 acre lot. As reported in the May 12, 2021 installment of Charlottesville Community Engagement, there are no immediate plans to develop.“There is a tension between desire for development on Cherry Avenue and reservations about negative impacts of any new development,” reads the beginning of the land use chapter in the recently-adopted Cherry Avenue Small Area Plan.

April 2, 2021

• One half of a duplex in the 800 block of Estes Street in Fifeville sold for $200,000, or 16.48 percent over the 2021 assessment. The structure was built in 1900 according to the city’s property records. 
• A unit in the Ridgecrest townhome community sold for $228,000, which is 1.98 percent under the 2021 assessment. The 2020 assessment was $186,400, making this transaction 22.32 percent over that figure

April 5, 2021

• A single-family home on Brook Road near Greenbrier Elementary School sold for $527,300, or 22.94 percent over the 2021 assessment. The home was built in 1963. 
• The title of an apartment building on University Circle was transferred to an LLC called Highisland. The building was constructed in 1930 and has a 2021 assessment of $628,600.
• A single-family home in the 1400 block of Cherry Avenue sold for $265,000, or $500 below the 2021 assessment. The structure is 1,058 square feet and is on land currently zoned R-2.
• A single-family home in the 700 block of Blenheim Avenue in Belmont sold for $435,000, or 24.21 percent over the 2021 assessment. 

April 6, 2021

• A single-family home in the 700 block of Concord Avenue in the Rose Hill neighborhood sold for $577,000. That is 50.73 percent over the 2021 assessment of $382,800. A building constructed in 1945 was upgraded in 2019 to become a four-bedroom home. 
• A home built in 1890 in the 500 block of 1st Street North sold for $1.626 million, or 10.9 percent over the 2021 assessment. 
• A single-family home on Camelia Drive in Fry’s Spring sold for $424,000, or 40.17 percent over the 2021 assessment.

April 8, 2021 

• A single-family home on Rosser Lane in the Rugby neighborhood sold for $660,000, which is 8.55 percent under the 2021 assessment. 
• A unit in an apartment building on Monroe Lane near the University of Virginia Health System sold for $550,000 to RRW3 Charlottesville LLC. That is 25.54 percent over the 2021 assessment. 

April 9, 2021

• An undeveloped 0.477 acre lot on Spottswood Road in Barracks / Rugby sold for $375,000. That’s 25 percent over the assessment.

April 12, 2021

• A home built in 2013 in the 700 block of Nalle Street in Fifeville sold for $700,000, which is 85.53 percent of the 2021 assessment. The 2,487 square foot building has four bedrooms. The 0.125 acre lot on which it stands was separated from the adjacent property in 2013 and sold for $60,000 at the time. 
• A single-family home built in 1959 on Azalea Drive sold for $530,000, of 15.85 percent over the assessment. 

April 13, 2021

• A single-family home built in 1958 on Brandywine Drive sold for $495,000, or 9.98 percent over the 2021 assessment. 
• A townhome built in 2017 at the end of Longwood Drive sold for $330,000, or 12.24 percent over the assessment. 

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April 14, 2021

• A townhouse unit on Penick Court built in 2015 as part of the Burnet Commons development sold for $447,000, or 8.81 percent over the 2021 assessment.
• A single-family home built in 1963 on McElroy Drive in Fry’s Spring sold for $425,000, or 21.01 percent over the assessment. 

April 15, 2021

• A single-family home in the Locust Grove neighborhood on Smith Lane sold for $205,000, or 1.11 percent under the 2021 assessment. The 715 square foot structure was built in 1968 and is on 0.258 acres.
• A vacant 0.142 acre lot in the Lochlyn Hill development sold to Arcadia Builders Inc for $152,200. That’s 8.75 percent over the 2021 assessment. 
• A single-family home in the 1000 block of Montrose Avenue sold for $325,000, or 44.06 percent over the 2021 assessment. The structure was built in 1954 and sits on 0.133 acres. 
• One-half of a duplex in the 700 block of Prospect Avenue sold for $161,855, or 19.98 percent over the 2021 assessment. 

April 16, 2021

• A new three-bedroom single family home on Lochlyn Hill Drive sold for $664,865.
• One unit in a three-unit townhouse on John Street in the 10th and Page neighborhood sold for $475,000, or 10.9 percent over the 2021 assessment. 
• A single-family home on Brandywine Drive built in 2007 sold for $599,000. That’s 20.33 percent over the 2021 assessment. 
• A single-family home on Sunset Avenue in the Fry’s Spring neighborhood sold for $385,000, or 57.85 percent over the 2021 assessment. The 960 square foot home was built in 1957 and is on 0.298 acres of land.

April 19, 2021

• A vacant lot near Dairy Road adjacent to the U.S. 250 bypass sold for $40,000, or 31.58 percent over the 2021 assessment. The lot is 0.88 acres and is zoned R-1. It does not appear to have road access at the moment. 
• The property immediately to the south on Dairy Road sold for $679,000, or 6.78 percent over assessment. There is a single-family home built in 1955. 
• A single-family home on Hardwood Avenue in the Rose Hill neighborhood sold for $479,000, or 20.87% over the 2021 assessment. The structure was built in 1956. 
• A duplex in a structure built in 1920 in the 800 block of Ridge Street sold for $115,000. That’s 54.02 percent under the 2021 assessment. 

April 20, 2021

• A vacant lot on Porter Avenue in the Fry’s Spring avenue sold for $94,000 to CAVS LLC. That’s 30.37 percent below the 2021 assessment of $135,000. 
• CAVS LLC also purchased two lots on Naylor Street in the Fry’s Spring neighborhood for $100,000 each. Both had an assessment of $129,000, or 22.48 percent under assessment.
• Brace yourselves for this one. A structure built in 1949 on Thomson Road in the Lewis Mountain neighborhood sold for $2 million. That is 117.11 percent over the assessment. The purchaser is Sun Creek Properties LLC, which was formed on April 7. The property sold most recently in 1982 for $245,000. It’s a five-unit apartment building.

April 21, 2021

• A single-family home on Holmes Avenue in the Locust Grove neighborhood sold for $362,000. That’s 22.96 percent above the 2021 assessment. 
• A unit at 203 2nd Street NW in North Downtown sold for $390,000. That’s 0.10 percent over the 2021 assessment and 8.12 percent over the 2020 assessment. 
• A single-family home on Oxford Road in the Barracks / Rugby neighborhood sold for $460,000. That’s 25.24 percent over the 2021 assessment. 
• A single-family home on Thomson Road in the Lewis Mountain neighborhood built in 1951 sold for $851,989, or 17.97 percent over the assessment. 

April 22, 2021

• A single-family home on Meriwether Street in the Martha Jefferson neighborhood sold  for $305,000. That’s 10.23 percent over the 2021 assessment. According to property records, the structure has 786 square feet of finished space. 
• A single-family home on Shelby Drive in the Meadows neighborhood sold for $262,000. The structure was built in 1959 and the purchase price is 7.32 percent below the 2021 assessment. The 2020 assessment was $262,200. 
• A new 3,017 square foot, four-bedroom single-family home on Lochlyn Hill Drive sold for $750,000. The 0.128 lot had been assessed at $140,000. 
• A single-family home in the 500 block of Avon Street sold for $645,000. That’s 48.58 percent over the 2021 assessment, and 86.31 percent over the 2021 assessment. 
• A single-family home in the 1100 block of Avon Street sold for $318,000. That’s 11.46 percent over assessment. 
• A single-family house in the 900 block of Montrose Avenue built in 1920 sold for $290,000. That’s 31.94 percent over the 2021 assessment. 
• An empty lot on Bolling Avenue changed hands without a sales price. The 0.139 acre property has an assessed value of $105,500. 
• A single-family home and a structure adjacent in the 1900 block of Thomson Road in the Lewis Mountain neighborhood were both sold for $1.95 million to Hooville LLC, a company with an address in Palm Coast, Florida. The combined 2021 assessment of the two properties was just over $1.2 million. That makes the purchase price 61.85 percent over the 2021 assessment. 
• A unit on Old Fifth Circle at the corner of Harris Street and Fifth Street Extended sold for $312,000. That is 17.82 percent over the 2021 assessment. 

April 23 ,2021

• New construction on Bennett Street in the Lochlyn Hill neighborhood sold for $429,000. This structure has three bedrooms and 1,613 square feet of space. 
• A residential unit in the mixed-use condominium at 820 East High Street sold for $220,000. That’s 15.42 percent below the 2021 assessment. 
• A single-family home built in 2014 in the Huntley community in Fry’s Spring sold for $420,000. That’s 11.49 percent above the 2021 assessment. 

April 26, 2021

• A unit in the Queen Charlotte building on East Jefferson Street sold for $525,000, or 12.66 percent over the 2021 assessment. 
• A unit in the Monticello Overlook apartment building on Monticello Avenue sold for $120,000, which is 2.92 percent above the 2021 assessment. 
• A single-family home built in 2004 as part of the Burnet Commons development sold for $450,000. That price is 14.59 percent over the 2021 assessment. 

April 27, 2021

• A two-story home with a finished basement on Keith Valley Road in the Meadowbrook Heights neighborhood sold for $500,000. That’s below the 2021 assessment of $524,700 by 4.71 percent. 

April 28, 2021

• One half of a duplex on Little High Street in the Martha Jefferson Neighborhood sold for $305,000, which is $17.53 percent over the 2021 assessment. The seller was the firm Neighborhood Investments. 

• A single-family home built in 2005 on Kenwood Lane in the Greenbrier neighborhood sold for $825,000. That price is 5.74 percent over the 2021 assessment. 
• Elsewhere in Greenbrier, another single-family home on Grove Avenue sold for $887,500. That’s 39.61 percent over the 2021 assessment for a home built in 1940. 
• A home on Nicholson Lane built in 2018 as part of the Lochlyn Hill development sold for $550,000, a 6.4 percent increase over the 2021 assessment. In 2020, the building was assessed for $466,000. 
• A single-family home in the 1300 block of King Street in Fifeville sold for $400,000, or 32.93 percent over the 2021 assessment. 
• A single-family home on 2nd Street SE at the southern entrance to the Ix complex sold for $442,500. That’s 91.56 percent over the 2021 assessment, which may not reflect improvements made to the structure in recent years. 
• Another single-family home in the 1100 block of Avon Street sold for $387,000, or 19.41 percent over the 2021 assessment. 
• In the 800 block of Monticello Avenue, a single-family home built in 1924 sold for $458,500, or 73.61 percent over the assessment. 

April 29, 2021

• Arcadia Builders purchased another lot in the Lochlyn Hill Development for $152,250, or 8.75 percent over the 2021 assessment. 
• A single-family home built in 1967 in the 1700 block of Yorktown Drive sold for $485,000. That’s 1.98 above the 2021 assessment.
• In the Barracks / Rugby neighborhood, a single-family home built in 1953 on Cambridge Circle sold for $439,500. That’s 6.98 percent below the 2021 assessment. 
• A unit in the 700 block of Walker Square in Fifeville sold for $250,000, or 7.99 percent above the assessment. 
• A single-family home built in 2007 on Roy’s Place in the Ridge Street neighborhood sold for $395,000, or 13.44 percent over the 2021 assessment. 
• A single-family home in Johnson Village built in 1965 on Village Court sold for $451,000, or 27.4 percent over the assessment.
• A single-family home in Fry’s Spring on Porter Avenue sold for $625,000, or 7.26 percent above the 2021 assessment

April 30, 2021

• A single-family home on Sheridan Avenue in the Locust Grove neighborhood sold for $305,750, or 19.39 percent over the 2021 assessment of $256,100. The house was built in 1952. 
• A single-family house on Hillcrest Road off of the U.S. 250 Bypass sold for $615,000. That’s 62.14 percent above the 2021 assessment. 
• Another home on Avon Street sold, this time in the 1000 block. The structure from 1956 changed hands at a price of $470,000, which is 22.4 percent over the 2021 assessment. 
• A split-level house on Forest Ridge Street sold for $317,000, which is 0.25 percent under the 2021 assessment. 
• A townhouse in a row built in 2017 at the end of Longwood Drive sold for $365,000, or 16.58 percent over the 2021 assessment. 
• An apartment unit in Walker Square with 1,119 square feet sold for $330,000, or 4.93 percent over the 2021 assessment. 
• A single-family home with three bedrooms in the 900 block of 6th Street SE sold for $330,000, or 20.57 percent over the 2021 assessment. 

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