August 2021 property sales in Charlottesville: New owners for La Quinta Inn, residential prices still up

When I launched this particular feature in January, I did so because I wanted to better understand the real estate economy in Charlottesville. I have owned my home for over 13 years now, a time that roughly coincides with the time I have spent taking a close look at local government as it relates to land use, transportation, growth development, and more. 

One of the cornerstones of my journalistic philosophy is that I know nothing. Every single time I begin writing a story, I look at every single fact and where I got it from. I want to make sure that what I am putting in writing and sending out under my name is accurate. I try to strip out commentary. 

So, this is another in a series of anecdotal accounts of real estate transactions in Charlottesville. It is a result of research I do as I track the Cville Plans Together process. There are big conversations happening about the future of the built environment, and thanks to your support I have been able to stay on top with summaries of these discussions.

My goal in all of this is to provide you with information with context drawn upon all of those years of meetings and interviews and stories. I have dedicated my life to this work and the result is the coverage that you are increasingly coming to depend upon. I cannot thank you enough all for your support but work that much harder with every new subscribe. You get first look at this curated information before it goes out to a wider audience. 

This month appears to continue the trend towards purchase prices well above assessments. There are also a few commercial transactions of note. All of the information comes from the city’s Open Data portal as well as other sources cited. Every transaction is unique to a situation between individuals or organizations, and not a single one of the following blurbs is the complete story. 

August 2, 2021

  • A two bedroom house on Valley View Circle in the Martha Jefferson neighborhood sold for $280,000, which is 2.17 percent below the 2021 assessment. The purchaser is Two Dog LLC, a company registered with an Ivy address. 
  • A two bedroom house in the 200 block of Meade Avenue built in 1947 sold for $245,000 which is 2.82 percent below the 2021 assessment. 
  • A two bedroom house in the 1100 block of Altavista Avenue built in 1931 sold for $220,000. That’s 30.33 percent over the 2021 assessment. 
  • Half of a duplex on Rock Creek Road in Orangedale section of Fifeville sold for $175,000, or 24.91 percent over the 2021 assessment.
House on Valley View Circle

August 3, 2021

  • A unit in the Ridgecrest townhome community on Darien Terrace sold for $233,800, or 37.21 percent over the 2021 assessments. The three bedroom structure was built in 1998 in a development built on R-3 zoning. 
  • One half of a duplex in the 700 block of Prospect Avenue sold for $226,000 which is 57.71 percent over the 2021 assessment. Searches of building permit records indicate there have been a lot of interior renovations in the past six years. This appears to be the highest price this year for a unit in the Orangedale section of the Fifeville neighborhood. 

August 4, 2021

  • A two bedroom house in the 1100 block of Avon Street in Belmont sold for $258,500, or 5.55 percent over this year’s assessment. The structure was built in 1950. 
  • A three bedroom house on Short 18th Street in the Woolen Mills sold for $258,200. That’s 7.81 percent over the 2021 assessment for this structure built in 1961. 
  • A three bedroom house in the 2000 block of Tarleton Drive in the Greenbrier neighborhood sold for $350,000, which is 6.25 percent over the 2021 assessment. The structure was built in 1958 and sits on 0.316 acres of land. 
  • A three bedroom unit in the Ridgecrest townhome community sold for $230,000, which is 30.39 percent over the 2021 assessment. 
  • A three (or four?) bedroom home in the 900 block of Rockland Avenue in the Belmont neighborhood sold for $441,000. That’s 72.81 percent over the 2021 assessment. A search of building permits does not bring up any results, but Realtor.com described it as remodeled. City’s property records describe it as a three bedroom, but the real estate website lists four. 
  • A two bedroom house on Elsom Street in the Starr Hill neighborhood sold for $350,000. That’s 9.68 percent over the 2021 assessment. 
  • One half of a duplex on Longwood Drive sold for $279,900, which is 35.54 percent over the 2021 assessment. The building was built in 1978. 
  • Two families purchased two new homes that Habitat for Humanity built in the Huntley development in the Fry’s Spring neighborhood. Both sold for $294,900. Habitat purchased the two lots for $120,000. 

August 5, 2021

  • A unit on Junction Lane in the Belmont Station townhouse community sold for $415,000, which is 6.46 percent over the 2021 assessment. The three-bedroom townhouse was built in 2019 on land zoned B-2. 
  • A four bedroom house in the 1700 block of King Mountain Road in the Greenbrier neighborhood sold for $664,000. That’s 25 percent over the 2021 assessment.  The house was built in 1958 and sits on 0.479 acres of land. 
  • A three bedroom house built in 1953 on Meadowbrook Road in the Barracks / Rugby neighborhood sold for $760,000. The property is 0.708 acres in size. 
  • An 888 square foot unit in the Charlottesville Towers building on First Street North in the North Downtown neighborhood sold for $194,000. That’s 1.41 percent below the 2021 assessment. 
  • A 1,210 square foot unit in the Charlottesville Towers building sold for $240,000, or 6.05 percent over the 2021 assessment. 
  • A three bedroom house on 9th Street SW built in 1997 by Habitat for Humanity sold to EK Real Estate Fund I, LLC for $265,000. That entity is based in New York, New York. The transaction is 3.76 percent over the 2021 assessment. The purchase price for the homeowner back in 1997 was $74,000.
  • A four bedroom house in the 1000 block of Forest Hills Avenue sold for $400,000. That’s 13.28 percent over the 2021 assessment. 
  • A house with four bedrooms in the 1200 block of King Street sold for $359,000, or 16.18 percent over the 2021 assessment. 
  • A four bedroom house on Lewis Mountain Road in the Lewis Mountain neighborhood sold for $1.205 million, which is 50.36 percent over the 2021 assessment. The structure was built in 1925. 

August 6, 2021

  • Half of a duplex on Holmes Avenue in the Locust Grove neighborhood sold for $206,000. That transaction is 10.75 percent over the 2021 assessment. There are three bedrooms in this house built in 1975. 
  • A three bedroom house at the corner of Monticello Road and Tufton Avenue sold for $237,500, which is 38.85 percent below the 2021 assessment. However, the transaction seems to be related to a divorce, as the house appears to be in good condition and had sold for $448,300 in March 2018. 
  • A four bedroom house on McElroy Drive in the Fry’s Spring neighborhood sold for $415,000, which is 26.22 percent above the 2021 assessment. The house was built in 1961. 
  • A two bedroom house on Herndon Road in the Barracks Road neighborhood sold for $470,000. That’s 24.04 percent over the 2021 assessment. The property is 0.341 acres.
  • An 802 square foot apartment in a condominium building on Cabell Avenue in the Venable neighborhood sold for $229,000. That’s 8.17 percent over the 2021 assessment. 

August 9, 2021

  • A two bedroom house on Chisolm Place in the Woolen Mills neighborhood sold for $410,000. That’s 28.41 percent over the 2021 assessment for a structure built in 1996 as part of a Planned Unit Development. 
  • In one of the biggest transactions of the month, a four bedroom house on Plymouth Road sold for $1.025 million. That’s 69.84 percent over the 2021 assessment for this structure in the Barracks / Rugby neighborhood. It is on 0.31 acres of land. 
  • The La Quinta Inn on Emmet Street between Hydraulic Road and the U.S. 250 bypass sold for $5.8 million. That’s 50.76 percent over the 2021 assessment of $3.847 million. That breaks down to $2.436 million for the 1.66 acres of land and $1.41 million for the structure. The improvement value dropped from $2.1 million in 2020. The new owner is Emmet Hospitality LLC. 
The La Quinta Inn on Emmet Street has a new owner

August 10, 2021

  • A three bedroom house newly built on Stonehenge Avenue Extended in Belmont sold for $502,971. According to Realtor.com, this unit was built in the Meridian style with “2 story living and open floor plan on the main level.” There’s also an unfinished basement for the new owners to decide what to do with. The lot was assessed at $115,000 this year. 
  • One half of a duplex on Moseley Drive in the Fry’s Spring neighborhood sold for $268,000. That’s 25.41 percent over the assessment. This building was built in 1987. 
  • A three bedroom house in the 1700 block of Rugby Avenue sold for $469,900. That’s 2.58 percent over the assessment for the 0.535 acre property. 

August 11, 2021

  • A five bedroom house on Olinda Avenue in the Fifeville neighborhood sold for $350,000. That’s 14.64 percent over the 2021 assessment for this structure in 1965. 
  • A three bedroom house in the 500 block of Meade Avenue sold for $379,000. That’s 64.57 percent over the 2021 assessment. An entry on Realtor.com states that there has been a total remodel this year. The property was also purchased this February for $235,000. That transaction was 2.04 percent over the 2021 assessment. 
  • The cost of lots in the Lochlyn Hill neighborhood under development continues to increase. A corner lot on Lochlyn Hill Drive sold for $184,000. It was assessed at $140,000 in 2021. 
  • A two bedroom house on Hillwood Drive in the Greenbrier neighborhood sold for $325,000, which is 11.66 percent below the 2021 assessment. 
  • A four bedroom house in the 1800 block of Yorktown Drive in the Greenbrier neighborhood sold for $705,000. That’s 49.62 percent over the 2021 assessment. 

August 12, 2021

  • A two bedroom house in the 1000 block of Cherry Avenue in the Fifeville neighborhood sold for $295,000, or 19.72 percent over the 2021 assessment. This house is on 0.138 acres and is currently zoned R 1-S. The current draft of the Future Land Use Map under consideration in the Cville Plans Together initiative would designate this as Medium-Intensity Residential which imagines up to 12 units depending on how the future zoning code is rewritten to encourage additional density. 
  • A four bedroom home in the 700 block of Monticello Avenue sold for $683,000, which is 69.99 percent over the 2021 assessment. The property was originally platted in the late 19th century by the Belmont Land Company
  • A two bedroom home in the 1000 block of Druid Avenue sold for $340,000, or 19.8 percent over the 2021 assessment. The last time the property sold was in May 2014 for $228,500. At the time, that was 25.55 percent over the 2021 assessment. 
  • A three bedroom home in the 1800 block of Field Road in the Venable neighborhood sold for $800,000, which is 8.73 percent below the 2021 assessment. The purchaser is Thornhedge Properties.

August 13, 2021

  • A three bedroom house on Burnet Street in Burnet Commons sold for $499,900, which is 31.59 percent over the 2021 assessment. The home was built in 2004 as part of a planned unit development. 
  • One half of a duplex on Rosa Terrace in the Ridge Street neighborhood sold for $189,000 which is 52.91 percent over the 2021 assessment. The unit is made up of 716 square feet and was built in 1969. 
  • A three bedroom house in the 900 block of Nassau Street in the Belmont neighborhood sold for $200,000, which is 2.72 percent over the 2021 assessment. 
  • A two bedroom house in the 600 block of Monticello Avenue sold for $467,500, which is 76.68 percent over the 2021 assessment. 
  • A one bedroom bungalow on Hammond Street in the Fry’s Spring neighborhood sold for $245,000 to an entity called 212 McGuffey Hill. That’s 0.24 percent below the 2021 assessment and 4.75 percent above the 2020 assessment. 
  • The 0.685 acre property that contains a Kentucky Fried Chicken restaurant on Emmet Street sold for $2.35 million to JRN Inc. In September 1980, J.R.N. Chicken Stores Inc purchased the property for $335,000. In between the property has changed many times, including once in October 2019 when a firm called Khan Investments Charlottesville LLC for $2.35 million. That’s not a typo. It was the same amount. The 2021 assessment is 0.67 percent below the 2021 assessment, but the 2019 transaction was 58.25 percent over the 2019 assessment. 
  • A three bedroom house in the 1400 block of Westwood Road in the Barracks / Rugby neighborhood sold for 22.35 percent over the 2021 assessment at $340,000.
Meet the new owner…. Same as the old owner?

August 16, 2021

  • A four bedroom house on Monte Vista Avenue in the Fry’s Spring sold for $425,000, which is 31.38 percent over the 2021 assessment. 
  • A firm called Blue Fox Investments paid $260,000 for a four bedroom house in the 700 block of Rockland Avenue in Belmont. That’s 3.83 percent over the 2021 assessment. 

August 17, 2021

  • Habitat for Humanity of Greater Charlottesville sold two homes on 12th Street for $274,900 each to two families. Habitat paid Dogwood Properties of C’Ville $100,000 for the two lots in December of 2019. In November 2007, Dogwood Properties of C’Ville paid Eugene Williams (et. al.) $800,000 for these properties and several others across the city. 
  • A 1,663 square foot building on the fifth floor of the Holsinger building on Water Street sold for $1.145 million, which is 34.83 percent over both the 2020 and 2021 assessment. The Holsinger building was constructed in 2006. 
  • A townhouse on Lochlyn Hill Drive in the Lochlyn Hill neighborhood sold for $605,000, which is 16.48 percent over the 2021 assessment. The three bedroom unit was built in 2018 and last sold in August 2018 for $502,996. 

August 18, 2021

  • A duplex with two units in the 800 block of Bolling Avenue sold for $375,000 to a firm called Praxis 27 LLC. That’s 5.51 percent over the 2021 assessment. 
  • A three bedroom townhouse on Linden Avenue in Belmont sold for $315,000, which is 17.36 percent over the 2021 assessment. 
  • A three bedroom house in the 1400 block of Rutledge Avenue in the Barracks / Rugby neighborhood sold for $379,000, which is 24.63 percent over the 2021 assessment. The building was constructed in 1948. 

August 19, 2021

  • A firm called Lauren Glen Properties purchased a home on the eastern side of Center Avenue in Fry’s Spring for $309,000. That’s 15 percent over the 2021 assessment. 
  • A four bedroom house in the 900 block of Rockland Avenue in Belmont sold for $565,000, which is 19 percent over the 2021 assessment. 
  • New construction on a three bedroom Nicholson Street in the Lochlyn Hill community sold for $667,000. The lot was assessed at $70,000 this year. Arcadia Builders purchased the lot in February for $152,500. Lochlyn Hill is a planned unit development. 

August 20, 2021

  • A transaction within a family on Sunset Road within the Fry’s Spring neighborhood sold for $116,688 which is 67 percent under the 2021 assessment. 
  • A newly-built townhouse on Longwood Drive sold for $392,125. The lot was assessed at $29,500 earlier this year. Now there is a home with three bedrooms. 
  • A townhouse unit on Greenwich Court in the Ridgecrest community in Belmont sold for $300,000. That’s 34.77 percent over the 2021 assessment. 

August 23, 2021

  • A 541 square foot unit on the fifth floor of the apartment building at 1800 Jefferson Park Avenue sold for $177,500. That’s 19.69 percent over the 2021 assessment. 
  • A three bedroom house in the 800 block of Montrose Avenue built in 1925 sold for $300,000. That’s 10.23 percent below the 2021 assessment. 
  • One half of a duplex on Birdwood Court with three bedrooms sold for $265,000. That’s 14.77 percent of the 2021 assessment. 

August 24, 2021

  • A two bedroom house in the 1100 block of Altavista Avenue sold for $300,000. That’s 29.48 percent over the 2021 assessment. Marketing materials for this property stated there is room in the attic for it to be converted into a third bedroom. 
  • A firm called Anchor Charlottesville Office LLC purchased the bank building at the intersection of High Street and Park Street for for $2.525 million. That’s 21.9 percent below the 2021 assessment. The property previously sold in March for $1.2 million. That transaction was 62.77 percent below the 2021 assessment. How will that affect the 2022 assessment?
  • A four bedroom house on Cottonwood Road in the Locust Grove neighborhood sold for $416,001. That’s 19.57 percent over the 2021 assessment. 
  • A three bedroom house in the 400 block of Oak Street in the Fifeville neighborhood sold for $550,000, which is 48.57 percent over the 2021 assessment. 
  • One half of a duplex on Valley Road Extended with three bedrooms sold for $226,500. That’s 22.3 percent over the 2021 assessment. 
Office building at Jefferson and Park

August 25, 2021

  • A five bedroom house on Shelby Drive in the Meadows neighborhood sold for $395,000, which is 39.72 percent over the 2021 assessment. 
  • A four bedroom house on Cedar Hill Road in the Meadows neighborhood sold for $399,000, which is 27.4 percent over the 2021 assessment. The house last sold in May 2018 for $250,000, which was 9.97 under the 2018 assessment. Since then, there have been multiple renovations including a new bathroom and replacement of the sewer lateral. 

August 26, 2021

  • A three bedroom house newly constructed on Stonehenge Avenue Extended sold for $546,831. The lot was assessed at $112,500 in 2021, up from $50,000 in 2020. 
  • An office building in a house-like structure at 815 East Jefferson Street sold for $650,000. That’s 24.2 percent below the 2021 assessment. The property was assessed at $605,000 in the years 2013 through 2016. What will this below market sale do to assessment? We’ll find out in just under five months when the 2022 assessments come in. 
  • A three bedroom house newly built in the Lochlyn Hill neighborhood sold for $584,275. The lot was assessed at $140,000 this year. 
  • A four bedroom house in the 1500 block of Westwood Road in the Barracks / Rugby neighborhood sold for $835,000, which is 50.53 percent over the 2021 assessment. 
  • A two bedroom house on Monte Vista Avenue in the Fry’s Spring neighborhood built in 1926 sold for $492,575, which is 44.96 percent over the 2021 assessment. 

August 27, 2021

  • A two bedroom house on Hinton Avenue in Belmont sold for $375,000, which is 18.97 percent over the 2021 assessment. This 0.1012 acre property also sold in April 2020 for $326,000, which at the time was 20.88 percent over the 2020 assessment.
  • A two (or three) bedroom house on Fairway Avenue in the Woolen Mills neighborhood sold for $350,000, which is 29.53 percent over the 2021 assessment. The 0.122 acre property was last sold in March 2012 for $63,000. This is another case where there is different information between the city’s data and that on realtor.com and other real estate websites. 
  • A four bedroom townhouse built in 2007 as part of the Cherry Hill planned unit development sold for $426,000. That’s 17.26 percent over the 2021 assessment. 

August 30, 2021

  • A three bedroom townhouse on Longwood Drive sold for $325,000, which is 15.66 percent over the 2021 assessment. The structure was built in 2013 as part of a planned unit development. 
  • A second three bedroom townhouse on Longwood Driver sold for $335,000, which is 26.13 percent over the 2021 assessment. This unit is slightly larger than the one above, but for some reason was assessed at a lower value. 

August 31, 2021

  • A four bedroom house built in 1920 on Midland Street in Belmont sold for $221,000. That’s 22.57 percent over the 2021 assessment. 

What do you think? I really want to know. Please let me know in the comments or in an email.

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