House on Belmont Avenue sells for over $1.5M and dozens of other real estate transactions from August 2023

Time now for another anecdotal look at property transactions in Charlottesville, a community where the rules for development will soon change to make it easier for property owners to build more units on their land. I’ve been offering a first-look on these summaries to paid subscribers of Charlottesville Community Engagement for over two and a half years. Now it’s out from behind the paywall!

Some notes on this summary if you’re not seen it before. I don’t identify purchasers by name unless it’s an LLC or another entity. All of the information comes from the city’s GIS system which is updated frequently. I try to provide context, and I list what the future zoning will be for each property. 

Any other questions? Drop me a line. 

August 1, 2023

• One half of a duplex on Naylor Street in the Fry’s Spring neighborhood sold for $295,000. That’s 24.21 percent over the 2023 assessment of $237,500. (Residential-A, 0.128 acres) 
• A two bedroom condominium in the Gleason Building sold for $710,000. That’s 1.48 percent below the 2023 assessment of $720,700. The 2021 assessment for this unit was $575,900. What will the value be in 2024? (Node Mixed Use-10, N/A) 

August 2, 2023

• A four bedroom house built in 2021 as part of the Belmont Point Planned Unit Development sold for $837,000. That’s 22.71 percent over the 2023 assessment of $682,100. This house sold once before in March 2021 for $596,437. (Residential-A, 0.14 acres)

August 3, 2023

• A three bedroom house on Locust Lane in the Locust Grove neighborhood sold for $530,500. That’s 23.29 percent above the 2023 assessment of $430,300. This house was built in 2012. (Residential-A, 0.1 acres)
• A 627 square foot unit in the Cedars apartment complex in the Meadows neighborhood sold for $165,000. The purchaser is an entity called McMahonCo, LLC. The transaction is 19.57 percent over the 2023 assessment of $138,000. 

August 4, 2023

• Do you have any guess what property an entity called 133 Stribling LLC purchased? 133 Stribling was assessed in 2023 at $649,500. This entity picked it up for $585,000, which is 9.93 percent below its 2023 worth. This is the second time this year the property has changed hands with a $427,000 purchase on March 1. (Residential-B, 0.992 acres)
• A three bedroom townhouse on Waterbury Court in the Ridgecrest community sold for $280,500. That’s 13.56 percent over the 2023 assessment of $247,500. (Residential-C, 0.04 acres)
• A newly constructed four-bedroom house on Rialto Street sold for $625,000. That’s 6.2 percent over the 2023 assessment of $588,500. (Residential-A, 0.06 acres)
• A five bedroom house built in 2009 on Long Street sold for $125,000, well under the 2023 assessment of $538,200. This appears to be a sale within a family and if so could not be taken into consideration when calculating the 2024 assessments citywide. (Residential-A, 0.22 acres)
• A three story house built in 1967 in the 1500 block of Chesapeake Street in the Woolen Mills neighborhood sold for $635,000. That’s 16.09 percent over the 2023 assessment of $547,000. (Residential-A, 0.25 acres)
• A four bedroom house built in 1961 on Stratford Court in the Fry’s Spring neighborhood sold for $410,000. That’s 4.99 percent over the 2023 assessment of $390,500. The 2022 assessment had been $314,100. (Residential-A, 0.27 acres)

August 7, 2023

• A three bedroom townhouse built in 2012 on Longwood Drive sold for $379,900. That is 9.29 percent over the 2023 assessment of $347,600. (Residential-C, 0.035 acres)
• A three bedroom house built in 1979 on Park Plaza sold for $705,000. That’s 53.33 percent over the 2023 assessment of $459,800. (Residential-A, 0.11 acres)

August 8, 2023

• A five bedroom house built in 2007 in the 1000 block of Druid Avenue in the Belmont Neighborhood sold for $695,000. That is 8.63 percent over the 2023 assessment of $639,800. (Residential-A, 0.08 acres)
• A two bedroom condominium in the McGuffey Hill development in North Downtown sold for $395,000. That’s 5.25 percent over the 2022 assessment of $375,300 and 2.45 percent below the 2023 assessment of $404,900. (Corridor Mixed Use 8, N/A)

August 9, 2023

• A two bedroom house on Agnese Street in the Locust Grove neighborhood sold for $430,000. That’s 11.8 percent over the 2023 assessment of $384,600. (Residential-A, 0.201 acres)

August 14, 2023

• A four bedroom townhouse on Rainier Road in the Cherry Hill Planned Unit Development sold for $485,100. The unit was built in 2009. The transaction is 8.96 percent over the 2023 assessment of $445,200. (Residential-C, 0.08 acres)

August 15, 2023

• A four bedroom house in the 600 block of Belmont Avenue sold for $1,545,000. That’s 118.1 percent above the 2023 assessment of $708,400. A search of the city’s building permits shows a lot of work done in 2020 including new plumbing, a new HVAC system, and a new addition. For reference, the property last sold in July 2015 for $540,000. (Residential-A, 0.139 acres)
• An entity called GFA VA HOLDINGS LLC purchased 1048 5th Street SW for $350,000. That’s 18.93 percent above the 2023 assessment of $294,300. This is one of the townhouses in the Brookwood development and it has three bedrooms. (Residential-C, 0.032 acres)
• A two bedroom house on Berring Street in the Ridge neighborhood sold for $308,000. That’s 18.42 percent over the 2023 assessment of $260,100. (Residential-A, 0.055 acres)

August 16, 2023

• A four bedroom house on Kerry Lane in the Greenbrier neighborhood sold for $700,000. That’s 48.05 percent over the 2023 assessment of $472,800. (Residential-A, 0.28 acres)
• A 523 square foot one bedroom apartment in the complex at 1800 Jefferson Park Avenue sold for $200,000. That’s 22.03 percent over the 2023 assessment of $163,900. (Corridor Mixed Use 5, N/A) 

August 17, 2023

• A newly constructed three bedroom house in the Rialto Beach Planned Unit Development sold for $550,000. That’s $400 more than the 2023 assessment of $549,600. (Residential-A, 0.07 acres)
• A three bedroom house on Brandywine Drive in the Greenbrier neighborhood sold for $645,000. That’s 9.45 percent above the 2023 assessment of $589,300. (Residential-A, 0.4 acres)

August 18, 2023

• A three bedroom house in the 200 block of Stribling Avenue sold for $250,000. That’s 33.98 percent below the 2023 assessment of $378,700. (Residential-A, 0.233 acres)
• A three bedroom house in the 1000 block of Blenheim Avenue sold for $425,000. That’s 6.78 percent below the 2023 assessment of $455,900. (Residential-A, 0.139 acres)
• An entity called Two Acre Wood LLC purchased a property in the 1100 block of Park Street for $899.000. That’s 22.1 percent over the 2023 assessment of $736,300. (Residential-B, 1.98 acres) 

August 21, 2023

• A three bedroom house on Laurel Circle in Fifeville sold for $635,000. That’s 115.25 percent over the 2023 assessment of $295,000. There’s no building permit for the work, but realtor.com describes the home as “renovated from top to bottom with high-end finishes and new major systems by a renowned interior designer.” (Residential Core Neighborhood A, 0.227 acres)
• An 834 square foot two bedroom apartment in the Charlottesville Towers on 1st Street N in the North Downtown neighborhood sold for $280,000. That’s 30.41 percent above the 2023 assessment of $214,700. (Residential Mixed Use 5, N/A)

August 22, 2023

• A couple has purchased a three bedroom house and an adjacent vacant lot in the 700 block of Altavista Avenue for $765,000. The two properties have a combined 2023 assessment of $713,000, making the transaction 7.25 percent above that figure. (Residential-B, 0.278 acres)
• Three parcels totaling 3.843 acres that make up the northern portion of the former Martha Jefferson Hospital sold for $17 million to a firm called MJH Acquisition LLC. These three parcels were split off from the rest of the former hospital property on August 7. For more information, read the article I wrote for C-Ville Weekly. (Node Mixed Use 8, 3.43 acres)
• Three empty lots totaling 2.105 acres in the Fry’s Spring neighborhood accessible by both Center Avenue and Hill Street sold for $525,000. That’s 51.17 percent over the 2023 assessment of $347,300 for the land. (Residential-A, 2.105 acres)
• A 704 square foot one bedroom unit in the Charlottesville Towers at 511 1st Street N sold for $243,000. That’s 34.11 percent above the 2023 assessment of $181,200. (Residential Mixed Use 5, N/A)

August 23, 2023

• A three story house on Hilltop Road in the Barracks / Rugby neighborhood sold for $1,155,000. That’s 14.46 percent above the 2023 assessment of $1,009,100. (Residential-A, 0.369 acres)

August 25, 2023

• A two bedroom house built in 1925 in the 400 block of 11th Street NW in the 10th and Page neighborhood sold for $383,000. The previous owner carved out an additional lot next door, so the calculation of this transaction above assessment will be a little off. The figure is 6.63 percent, but that’s based on both properties so it’s not quite accurate. (Residential Core Neighborhood-A, 0.18 acres)
• One half of a duplex in the 1000 block of 5th Street SW with three bedrooms sold for $265,000. That’s 41.71 percent over the 2023 assessment of $187,000. (Residential-C, 0.23 acres)

August 28, 2023

• A four bedroom house in the 1800 block of Yorktown Drive in the Greenbrier neighborhood sold for $520,000. That’s 15.53 percent above the 2022 assessment of $450,100 and 1.46 percent above the 2023 assessment of $512,500. (Residential-A, 0.32 acres)
• A three bedroom house in the 600 block of McIntire Road in the North Downtown neighborhood sold for $452,500. That’s 23.26 percent over the 2023 assessment of $367,100. This home last sold in June 2020 for $317,000. (Residential-A, 0.213 acres)
• A three bedroom condominium in the 500 block of 7 and ½ Street sold for $464,000. That’s 8.34 percent above the 2023 assessment of $428,300. (Residential-A, N/A)
• An entity called KING QOZB LLC purchased 1000 King Street for $348,300. That’s 6.38 percent above the 2022 assessment of $327,400 and 12.79 percent below the 2023 assessment of $399,400. (Residential-A, 0.165 acres)

August 29, 2023

• A two bedroom apartment in the Monticello Overlook condominium complex sold for $239,000. That’s 15.91 percent above the 2023 assessment of $206,200. (Residential Mixed Use 3, N/A)
• One half of a newly built three bedroom duplex in the 1600 block of Rialto Street sold for $465,000. That’s 2.74 percent above the 2023 assessment of $452,600. (Residential-A, 0.046 acres)
• One half of a duplex built in 2017 on Longwood Drive sold for $394,000. That’s 9.47 percent over the 2023 assessment of $359,900. (Residential-B, 0.09 acres)
• A three bedroom house on Goodman Street in the Belmont neighborhood built in 1930 sold for $740,000. That’s 47.03 percent over the 2023 assessment of $503,000. (Residential-A, 0.143 acres)
• A vacant lot on Meriwether Street in the Little High Street neighborhood sold for $125,000. That’s the exact assessment for 2023. (Residential-A, 0.284 acres) 

August 30, 2023

• A three bedroom house on Holmes Avenue in the Locust Grove neighborhood sold for $285,000. That’s 15.63 percent below the 2023 assessment of $337,800. (Residential-A, 0.223 acres)
• A five bedroom house on Elizabeth Avenue in the Locust Grove neighborhood sold for $441,350. That’s 26.82 percent above the 2023 assessment of $348,000. (Residential-A, 0.234 acres)
• A three bedroom house on Ashby Place in the Locust Grove neighborhood sold for $550,000. That’s 7.44 percent above the 2023 assessment of $511,900. (Residential-A, 0.36 acres)

August 31, 2023

• A two bedroom house in the 900 block of Altavista Avenue in Belmont sold for $389,900. That’s 46.69 percent above the 2023 assessment of $265,800. (Residential-A, 0.139 acres)
• One half of a duplex built in 1978 on Longwood Drive in the Fry’s Spring neighborhood sold for $285,000. That’s 6.03 percent above the 2022 assessment of $268,800 and 2.63 percent below the 2023 assessment of $292,700. (Residential-B, 0.094 acres)
• A two bedroom house built in 1950 on in the Fry’s Spring portion of Center Avenue sold for $262,000. That’s 2.46 percent above the 2022 assessment of $255,700 and 17.71 percent below the 2023 assessment of $318,400. (Residential-A, 0.233 acres)
• A two bedroom unit in the Queen Charlotte building on East Jefferson Street sold for $600,000. That’s 4.79 percent above the 2022 assessment of $572,600 and 0.44 percent above the 2023 assessment of $597,400. (Corridor Mixed Use 8, N/A)