December 2022 transactions: Industrial block in Rose Hill neighborhood sells for $12.75M; Orangedale duplex sells for $270K

How will the final month of 2022 turn out? As I write these words, I have not yet begun compiling this list. I do this work manually and it takes a lot of time to go through. In the early days of this publication, I had more time! Now I’m expanding to Fifth District Community Engagement. There’s a lot less real estate in that one. At least for now. 

I’ve produced these monthly property transaction summaries for two years now and I know I still have a lot to learn. I don’t yet understand all of the mechanisms by which properties trade hands, but I know it’s more important than ever to pay attention to what’s happening. For a community where housing is on the minds of many, I intend this list to be a way for people to know what’s happening.

It has been nearly two years since Charlottesville adopted an Affordable Housing Plan that “contains immediate, short-term, and longer-term recommendations to advance affordable housing.” That includes $10 million in city-funding for various programs including direct contributions for financing, a rewrite of the zoning ordinance to make it easier to build new houses, and a restructuring of housing policy committees. (view the plan)

It has been 14 months since Council adopted a Future Land Use Map that grants more development rights for every property in Charlottesville, and the rezoning rewrite underway now will have the details of how that will work out. These details are really important for as many people to know as possible if the plan is to achieve its equity goals.

I will write about the rezoning process while I continue doing these on-going summaries in 2023. I am as interested in the actual as I am the theoretical. And every property owner in Charlottesville is about to receive their assessment for 2023. That’s about as actual as you can get. I don’t make predictions, but invite you to review the hundreds of transactions I’ve written about this year.  Just remember Albemarle County’s assessments are up 13.46 percent for 2023.

As always, paid subscribers get a first look at this work. I will put this up on Information Charlottesville on Monday. That should be around the time that the 2023 assessments will be ready. I’m grateful for those who are helping me dedicate my life to this work and to keep my eye on as much as I can. For the rest of you, take a look at the other 23 of these summaries to date.

December 1, 2022

• A three bedroom house built in 1950 on Westview Road in the Venable neighborhood sold for $1.33 million. That’s 1.7 percent over the 2022 assessment of $1,307,800. (General Residential, 0.344 acres)
• A vacant lot on Rockland Avenue in the Belmont neighborhood sold for $175,000. That’s 73.61 percent above the 2022 assessment of $100,800. (General Residential, 0.13 acres)
• A property in the 800 block of Ridge Street in the Ridge Street neighborhood sold for $160,000 to Rich Valley Holdings. That’s 19.23 percent over the 2022 assessment of $134,200 but also 18.61 percent below the 2021 assessment of $195,500. (General Residential, 0.22 acre)
• A three bedroom house on Woodfolk Drive in the Ridge Street neighborhood sold for $465,000. That’s 9.18 percent over the 2022 assessment of $425,900. (General Residential, 0.203 acres)
• A two bedroom house on Mobile Lane in the Fry’s Spring neighborhood sold for $349,900. That’s 12.94 percent over the 2022 assessment of $309,800. (General Residential, 0.211 acres)

December 2, 2022

• A four bedroom house built in 1997 on Amherst Commons in the Barracks neighborhood sold for $699,500. That’s 21 percent over the 2022 assessment of $578,100. This was part of a planned unit development. (General Residential, 0.086 acres)
• An entity called Arbor 3 Holdings LLC purchased 304 Alderman Road for $645,000. That’s 7.52 percent over the 2022 assessment of $599,900.  (Medium Intensity Residential, 0.318 acres)
• Two properties in the 1800 block of Chesapeake Street sold for $420,000. One is a 0.257 acre parcel with a three bedroom house built in 1890. The other is a 0.257 acre parcel without a major structure. The sales price for both is 6.82 percent over the 2022 assessment of $393,200. (General Residential, 0.514 acres)
• A four bedroom house on Village Road in the Johnson Village neighborhood sold for $436,000. That’s 8.46 percent over the 2022 assessment of $402,000. (General Residential, 0.297 acres)
• In January, a couple picked up a house in the 700 block of West Street in the 10th and Page neighborhood for $250,000. At the time, the transaction was 16.05 percent below the 2022 assessment of $297,800. The couple invested in the property and sold it on this day for $510,000. That’s 71.26 percent over the 2022 assessment. The only item that shows up in a building permit search is the relocation of the electric meter, but real estate websites say the house was totally transformed. (General Residential – Sensitive Communities, 0.11 acres)

December 5, 2022

• A three bedroom house built in 1977 on Blenheim Avenue in Belmont sold for $250,000. That’s about one percent above the 2021 assessment but 11.66 percent below the 2022 assessment of $283,000. The purchaser is Northern Lights Real Estate, which has an address in Crozet. This sits on a corner lot. (General Residential, 0.139 acres)
• A three bedroom house built this year on Lochlyn Hill Drive sold for $843,804. Arcadia Builders bought the lot for $158,700 on May 18. (General Residential, 0.125 acres)

December 6, 2022

• A four bedroom house on Almere Avenue built in 2016 as part of the third phase of Burnet Commons sold for $560,000. That’s 5.36 percent over the 2022 assessment of $531,500. (Medium Intensity Residential, 0.04 acres)
• A four bedroom house on Village Road in the Johnson Village neighborhood sold for $430,000. That’s 5.36 percent over the 2022 assessment of (General Residential, 0.204 acres)
• A three bedroom house on Bland Circle built in 1960 sold for $420,000. That’s 30.27 percent over the 2022 assessment. This is within the Locust Grove neighborhood. (General Residential, 0.209 acres)
• A three bedroom house in the 1400 block of Avon Street in the Belmont neighborhood sold for $355,000. This house was built in 2016. The transaction is 1.69 percent below the 2022 assessment of $361,100. For scale, the 2021 assessment was $309,300. (Medium Intensity Residential, 0.067 acres)

December 7, 2022

• A three bedroom house on Camellia Drive in the Fry’s Spring neighborhood sold for $449,000. That’s 9.03 percent over the 2022 assessment of $411,800. In 2021 the house sold for $424,000 and that was 40.17 percent over the 2021 assessment of $302,500. This is a parcel that abuts Moores Creek. (General Residential, 0.694 acres)

December 8, 2022

• A four bedroom house on the 700 block of Monticello Avenue sold for $665,000. That’s 88.92 percent over the 2022 assessment of $352,000. Real estate websites state that the structure has been completely remodeled  The last transaction was in October 2020 when a couple purchased it for $350,000, which at the time was under the 2020 assessment of $396,900. (General Residential, 0.107 acres)

December 9, 2022

• A five bedroom home in the 900 block of Locust Avenue in the Locust Grove neighborhood sold for $1,550,000. That’s 31.77 percent over the 2022 assessment of $1,176,300. Later in the month, the new owners filed a building permit for renovations worth $130,000.  (Medium Intensity Residential, 1.855 acres)

December 12, 2022

• An 854 square foot unit with two bedrooms in the apartment complex at 1800 Jefferson Park Avenue sold for $255,000. The new owner is Black Forest Housing LLC. That’s 27.82 percent over the 2022 assessment of $199,500. (Urban Mixed Use Corridor, N/A)
• A company called Launch Pads LLC now owns a pair of apartment buildings at 301 7th Street in the Fifeville neighborhood. They paid $807,600. That’s 54.39 percent over the 2022 assessment of $523,100. (Medium Intensity Residential 0.12 acres)
• A four bedroom house in the 1000 block of Grove Street in the Fifeville neighborhood built in 1971 sold for $309,000. That’s 4.45 percent below the 2022 assessment of $323,400. The new owner is Praxis 29 LLC. (General Residential, 0.233 acres)

December 13, 2022

• A three bedroom house on Mobile Lane in the Fry’s Spring neighborhood sold for $335,000. That’s 24.67 percent over the 2022 assessment of $268,700. (General Residential, 0.189 acres)
• Meade Construction LLC bought a three bedroom house at 1505 Cherry Avenue for $250,000 from Benco LLC. This transaction is 9.19 percent below the 2022 assessment of $275,300. (Medium Intensity Residential, 0.3 acres)

December 14, 2022

• Benco LLC purchased 1505 Cherry Avenue for $280,000. That’s 1.71 percent over the 2022 assessment. And then Laurel Oak Properties bought the property for $280,000. What explains this phenomenon? (Medium Intensity Residential, 0.3 acres)
• A four story house on Village Road in the Johnson Village neighborhood sold for $857,500. That’s 23.74 percent over the 2022 assessment of $693,000. (General Residential, 0.282 acres)

December 15, 2022

• A four bedroom house on Altavista Avenue sold for $437,000 which is 16.56 percent over the 2022 assessment of $374,900. This is the second time the property has traded this year. In May, Aspiring Developments LLC paid $240,000 which was 35.98 percent below the 2022 assessment. (General Residential, 0.28 acres)
• A four bedroom townhouse on Elliott Avenue in Burnet Commons sold for $512,000. That’s 8.5 percent above the 2021 assessment of $417,900 and 3.1 percent below the 2022 assessment of $528,400. (Medium Intensity Residential, 0.03 acres)
• A vacant parcel on Oxford sold for $370,000, which is 10.78 percent over the 2022 assessment of $334,000. The property was assessed at $199,000 in 2021. (General Residential, 0.52 acres)
• An 822 square foot two-bedroom unit in the apartment complex at 1800 Jefferson Park Avenue sold for $221,000. That’s 15.65 percent over the 2022 assessment of $191,000. The purchaser is TWSS GROUP, LLC. (Urban Mixed Use Corridor, N/A)

December 16, 2022

• A five bedroom house in the 1500 block of Rugby Road sold for $775,000. That’s 19.1 percent over the 2022 assessment of $650,700. (General Residential, 0.48 acres)
• A four bedroom house in the 1700 block of Yorktown Drive in the Greenbrier neighborhood sold for $715,000. That’s 62.13 percent over the 2022 assessment of $441,000. (General Residential, 0.82 acres)
• A three bedroom house on Sunset Avenue in the Fry’s Spring neighborhood sold for $238,000. That’s 8.28 percent over the 2021 assessment of $219,800 and 6.67 percent below the 2022 assessment of $255,000. The purchaser is Sunset LLC. The last time this home sold was in October 1968 for $16,300. (General Residential, 0.281 acres)
• A three bedroom house on Camellia Drive in the Fry’s Spring neighborhood sold for $350,000. That’s 8.46 percent over the 2021 assessment of $322,700 and 1.41 percent below the 2022 assessment of $355,000. (General Residential, 0.187 acres)

December 19, 2022

• One half of a duplex in the 1400 block of Midland Street sold for $299,900. That’s 23.82 percent above the 2022 assessment of $242,200. This house was built in 2011 as part of Habitat for Humanity of Greater Charlottesville’s Sunrise Park project. The home first sold in 2012 for $169,649. Habitat exercised their right of first refusal and purchased the property again on September 29, 2021 for $243,000. (Medium Intensity Residential, 0.31 acres)
• On June 14, 2022, Aspiring Developments LLC bought one half of a duplex for $140,000. That was 23.12 percent below the 2022 assessment of $182,100. According to real estate websites, they renovated the house and replaced the roof, the HVAC system, and much more. The house sold for $270,000 which is 48.27 percent over the 2022 assessment, though that’s likely not based on the improvements. (General Residential, 0.174 acres)

December 20, 2022

• A three bedroom house in the 1100 block of on Elliott Avenue in the Belmont neighborhood sold for $723,500. That’s 65.37 percent over the 2022 assessment of $437,500. (Medium Intensity Residential, 0.144 acres)
• A 1,694 square foot unit in condominium complex on Douglas Avenue sold for $950,000. That’s 18.88 percent over the 2022 assessment of $799,100. The 2021 assessment was $597,000. (Higher Intensity Residential, N/A)
• A four bedroom house on Hillwood Place in the Greenbrier neighborhood sold for $420,000. That’s 7.2 percent over the 2021 assessment of $391,800 and 8.24 percent below the 2022 assessment of $457,700. (General Residential, 0.399 acres)
• An entire industrial block that covers nearly two acres in the Rose Hill neighborhood sold for $12.75 million. That’s 92.41 percent over the combined 2022 assessment of $6,626,500. The company that purchased the property is called New Pajamas LLC. The site is currently home to several businesses including Advanced Plumbing Services. (Neighborhood Mixed Use Node, 1.98 acres)
• Another major commercial transaction took place on this day. Crossroads of Charlottesville LLC purchased an apartment complex at the corner of Jefferson Park Avenue and Maury Avenue. They paid $20.7 million which is 95.31 percent over the 2022 assessment of nearly $10.06 million. The three building complex was built in 1993. (Urban Mixed Use Corridor, 1.575 acres) (edited post-publication)

December 22, 2022

• A three bedroom house on Sunset Avenue in the Fry’s Spring neighborhood sold for $235,000. That’s 21.26 percent over the 2021 assessment of $193,800 and 7.77 percent below the 2022 assessment of $254,800. (General Residential, 0.243 acres)

December 27, 2022

• A three-story, three bedroom single-family detached in the 1600 block of East Water Street sold for $1.61 million. This house was built in 2017 as part of the Water Street Promenade development and sold for the first time in 2018 for $1.126 million. (Neighborhood Mixed Use Corridor, 0.08 acres)
• A three bedroom house on Shelby Drive in the Meadows neighborhood sold for $272,000. That’s 10.7 percent over the 2022 assessment of $245,700. (General Residential, 0.416 acres)

December 28, 2022

• A two bedroom house in the 1500 block of Cherry Avenue sold for $250,000. That’s 12.11 percent below the 2022 assessment of $285,600. (Medium Intensity Residential, 0.207 acres)
• A 1,240 square foot unit with two bedrooms at 200 Garrett Street sold for $770,000. That’s 20.12 percent over the 2021 assessment of $641,000 and 3.47 percent over the 2022 assessment of $744,200. (Urban Mixed Use Node, N/A)
• A four bedroom house on Burnet Street in the first phase of Burnet Commons sold for $468,000. That price is 16.39 percent over the 2021 assessment of $402,100 and 4.24 percent below the 2022 assessment of $488,700. (General Residential – Sensitive Communities, 0.073 acres)

December 29, 2022

• A three bedroom house on Malcolm Crescent in the North Downtown neighborhood sold for $720,000. That’s 15.72 percent over the 2022 assessment of $622,200. (General Residential, 0.16 acres)
• A four bedroom house on Crestmont Avenue in the Fry’s Spring neighborhood sold for $335,000 to an entity called KGB LLC. That’s 2.01 percent above the 2021 assessment of $328,400 and 8.34 percent below the 2022 assessment of $365,500. (General Residential, 0.259 acres)
• A vacant lot on Berring Street in the Ridge Street neighborhood sold for $61,000. That’s 12.34 percent over the 2022 assessment of $54,300. A structure existed on the property until at least 2016. (General Residential Sensitive Communities, 0.111 acres)
• A firm called Ram’s Head LLC bought a two-bedroom unit in an apartment building at 1215 Wertland Street for $200,000. That’s 17.03 percent over the 2022 assessment of $170,900. (Higher Intensity Residential, N/A)
• A four bedroom house in the 1000 block of Druid Avenue built in 2007 as part of a planned unit development sold for $650,000. That’s 17.86 percent over the 2021 assessment of $551,500 and 0.23 percent above the 2022 assessment of $648,500. (General Residential, 0.15 acres)