April 2024 property transactions in Charlottesville: Mountain View developer buys another single-family house; Piedmont Community Land Trust sells another unit in Fifeville

This year is moving fast and I wanted to get the summary of transactions for April before May ended so I published this on Charlottesville Community Engagement on May 29. Six days later, it comes out behind the paywall to be posted here!

My research into the real estate market has become an important part of my overall reporting on the community and a city that has recently changed the rules of how development takes place. 

If you’ve not read one of these before, these blurbs are intended to be anecdotes of what’s happening. I do this work to track values over time and almost every single entry this month will lists both the 2024 and the 2020 assessment. Fundamental shifts have occurred during that time with the pandemic and a new Comprehensive Plan that points the way to more residential density. There’s also a relative lack of supply compared to demand for housing. What are your thoughts? Say so in the comments.  

Time is more precious on a nice spring day, so let’s just get to it. 

April 1, 2024

• A three bedroom single-family attached unit in the 700 block of Orangedale Avenue in the Fifeville neighborhood sold for $270,000. That’s 7.96 percent above the 2024 assessment of $250,100 and 69.17 percent over the 2020 assessment of $159,600. (Residential Neighborhood-A, 0.088 acres)
• A four bedroom house in the 2600 block of Jefferson Park Circle sold for $650,000. That’s 10.34 percent above the 2024 assessment of $589,100 and 46.33 percent above the 2020 assessment of $444,200. (Residential-A, 0.333 acres)

April 2, 2024

• A house built in 1938 on Evergreen Avenue in the North Downtown neighborhood sold for $1.05 million. That’s 8.76 percent above the 2024 assessment of $965,400. In 2020, the assessment was $515,100 making the sale price 103.84 percent above that value. A building permit for an addition was approved in 2020 for work estimated at $325,000. (Residential-A, 0.257 acres)

April 4, 2024

• A four bedroom house built in 1903 on Park Hill in the North Downtown neighborhood sold for $927,000. That’s 10.08 percent above the 2024 assessment of $842,100 and 46.01 percent above the 2020 assessment of $634,900. The only recent building permit is a replacement of an electrical panel with that work estimated at $2,000. (Residential-A, 1.86 acres)
• A three bedroom house built in 1956 on Willard Drive in the Fry’s Spring neighborhood sold for an even $500,000. That’s 24.07 percent above the 2024 assessment and 61.81 percent above the 2020 assessment of $309,000. (Residential-A, 0.21 acres)
• A three bedroom townhouse built in 2008 on Quarry Road in the Belmont neighborhood sold for $415,000. That’s 8.9 percent above the 2024 assessment of $381,100 and 34.92 percent above the 2020 assessment of $307,600. (Residential-C, 0.05 acres)

April 5, 2024

• A three bedroom house on Elkhorn Road in the Johnson Village neighborhood sold for $568,000. That’s 38.64 percent above the 2024 assessment of $409,700 and 77.89 percent above the 2020 assessment of $319,300. (Residential-A, 0.388 acres)

April 8, 2024

• A company called 270 Partners LLC purchased an empty lot at the corner of Ridge Street and Lankford Avenue for $199,000. They also subdivided it into two different lots. I believe the assessments are based on both of these lots, which would mean the purchase price is 124.6 percent above the $88,600 assessment for 2024. (Residential-A, 0.15 acres)
• A five bedroom house built in 1920 in the 1900 block of Lewis Mountain Road sold for $1.85 million. That’s 50.25 percent above the 2024 assessment of $1,231,300 and 177.24 percent above the 2020 assessment of $667,300. There are no recent building permits in the city’s database. (Residential-A, 0.257 acres)
• A four bedroom house on Cedar Hill Road in the Meadows neighborhood sold for $410,000. That’s 4.09 percent above the 2024 assessment of $393,900 and 38.23 percent above the 2020 assessment of $296,600. (Residential-A, 0.293 acres)

April 9, 2024

• A three bedroom house on Bolling Avenue in the Belmont neighborhood sold for $700,000. That’s 32.43 percent above the 2024 assessment of $528,600 and 85.28 percent above the 2020 assessment of $377,800. There are no building permits in the database for this property. (Residential-A, 0.139 acres)
• An apartment building with eight bedrooms on Apple Tree Road in the Jefferson Park Avenue neighborhood sold for $760,000. That’s 42.78 percent above the 2024 assessment of $532,300 and 120.48 percent above the 2020 assessment of $344,700. There are no building permits in the database for this property. (Residential Mixed Use 3, 0.23 acres)
• An entity called 239 Monte Vista LLC purchased an occupied lot and a vacant lot on that avenue for $515,000. That’s 2.79 percent below the combined 2024 assessment of $529,800 and 35.06 percent above the combined 2020 assessment of $381,300. (Residential A, 0.422 acres)
• A four bedroom house on Carter Lane in the Greenbrier neighborhood sold for $434,000. That’s 10.31 percent below the 2024 assessment of $483,900 and 22.36 percent above the 2020 assessment of $354,700. (Residential-A, 0.289 acres)
• A five bedroom house and a one bedroom cottage on Park Street sold for $230,000. This is a sale within a family and will likely not be considered valid. But if you’re curious, the purchase price is 66.38 percent below the 2024 assessment of $684,100. According to a search of the building permit database, the cottage was built in 2019 at an estimated cost of $130,000. (Residential-B, 0.52 acres)

April 10, 2024

• A three bedroom house in the 1600 block of East Market Street sold for $315,000. That is 3.49 percent below the 2024 assessment of $326,400 and 40.94 percent above the 2020 assessment of $223,500. The seller is Aspiring Developments LLC, an entity that bought the property in 2022 at the exact 2022 assessment of $283,500. (Residential-A, 0.036 acres)
• A two bedroom house built in 1952 on Sheridan Avenue sold for $395,000. That’s 11.83 percent above the 2024 assessment of $353,200 and 64.65 percent above the 2020 assessment of $239,900. Before the sale, the previous owners applied for a building permit for “work previously completed to add a new bathroom” that was estimated at $10,000. (Residential-A, 0.18 acres)

April 11, 2024

• A 604 square foot unit with one bedroom at 1800 Jefferson Park Avenue sold for $10,000 but this is within a family so it’s not a valid sale. The 2024 assessment is $223,900 if you want to do your own math. (Residential Mixed Use 5, N/A)

April 12, 2024

• A company called 403 Twelfth LLC purchased 1004 Altavista Avenue in the Belmont neighborhood for $425,000. The structure has five bedrooms and was built in 1961. The sales price is 22.66 percent above the 2024 assessment of $346,500 and 66.86 percent above the 2020 assessment of $254,700. There are no building permits or other land use applications associated with the property. (Residential-A, 0.139 acres)
• A 1,150 square foot one-bedroom condominium in the Randolph Building at 10th Street NE sold for $522,000. That’s 10.14 percent below the 2024 assessment of $580,900 and 18.72 percent above the 2020 assessment of $439,700. (Commercial Mixed Use 5, N/A)
• A three bedroom house on King Mountain Road built in 1958 in the Greenbrier neighborhood sold for $603,500. That’s 14.56 percent above the 2024 assessment of $526,800 and 54.86 percent above the 2020 assessment of $389,700. There are no building permits or other land use applications associated with the property. (Residential-A, 0.402 acres)
• A three bedroom house and a one bedroom cottage on Jefferson Park Avenue sold for $802,500. That’s 40.35 percent above the 2024 assessment of $571,800 and 105.3 percent of the 2020 assessment of $390,900. The most recent building permit was a gas line in 2009. (Residential-A, 0.17 acres)

April 16, 2024

• A two bedroom house on Cream Street in the Starr Hill neighborhood sold for $294,900. That’s 3.78 percent below the 2024 assessment of $306,500 and 36.78 percent above the 2020 assessment of $215,600. (Residential-A, 0.086 acres)

April 17, 2024

• A three bedroom house built in 1900 on 7th Street SW in the Fifeville neighborhood sold for $710,000. That’s 155.03 percent above the 2024 assessment of $278,400 and 335.05 percent above the 2020 assessment of $163,200. The firm Praxis31 LLC purchased this property in October 2023 for $283,250 and made renovations estimated to cost $75,000. There were also electrical upgrades estimated at $14,000, plumbing upgrades estimated at $8,000, and a heat pump installation worth $1,800. (Residential-B, 0.061 acres)

April 18, 2024

• A three bedroom house on Monte Vista Avenue in the Fry’s Spring neighborhood sold for $460,100. That’s 17.25 percent above the 2024 assessment of $392,400 and 66.94 percent above the 2020 assessment of $275,600. A solar installation worth $18,002 was installed in 2019. (Residential-A, 0.169 acres)
• A three bedroom single family attached house on Lodge Creek Circle in the Fry’s Spring neighborhood sold for $363,800. That’s 28.92 percent above the 2024 assessment of $282,200 and 70.08 percent above the 2020 assessment of $213,900. There are no building permits associated with the property in the database. (Residential-B, 0.083 acres)

April 19, 2024

• A three bedroom house on Payne’s Mill Road in the Ridge Street neighborhood built in 2020 sold for $750,000. That’s 10.72 percent above the 2024 assessment of $677,400 and 42.99 percent above the 2020 assessment of $524,500. (Residential-A, 0.28 acres)
• A four bedroom house in the 600 block of Rock Creek Road in the Fry’s Spring neighborhood sold for $435,000. The purchaser is Next Generation Partners LLC. The sales price is 0.69 percent above the 2024 assessment of $432,000 and 43.94 percent above the 2020 assessment of $302,200. (Residential-A, 0.227 acres)
• A four bedroom house built in 2006 on Huntley Avenue sold for $610,000. That’s 1.24 percent about the 2024 assessment of $602,500 and 30.79 percent above the 2020 assessment of $466,400. 
• VBK LLC is the new owner of a 687 square foot apartment with two bedrooms in the apartment complex at 1800 Jefferson Park Avenue. The entity paid $265,000, an amount that is 9.91 percent above the 2024 assessment of $241,100. The transaction is 49.97 percent above the 2020 assessment of 49.97 percent. (Residential Mixed Use 5, N/A)

April 22, 2024

• A two bedroom house on Montrose Avenue built in 1925 in the Belmont neighborhood sold for $414,900. That’s 27.39 percent above the 2024 assessment of $325,700 and 89.19 percent above the 2020 assessment of $219,300. Last year a building permit was issued for “installation of 1 IntelliJack and 8 [linear feet] of Main Beam Replacement” with the cost of that work estimated at $2,500. (Residential-A, 0.13 acres) 
• A 3,158 square foot apartment with three bedrooms in the condominium building at 202 Douglas Avenue sold for $1,690,000. That’s 0.75 percent below the 2024 assessment of $1,702,700 and 18.24 percent above the 2020 assessment of $1,429,300. (Residential Mixed Use 3, N/A)
• A four bedroom house built in 1912 in the 1100 block of Cherry Street in the Belmont neighborhood sold for $200,000. That’s 41.06 percent below the 2024 assessment of $339,300 and 8.75 percent above the 2020 assessment which makes me wonder if this will be considered a valid sale. (Residential-A, 0.15 acres)
• A three bedroom house built in 1925 on Dice Street in Fifeville sold for $580,000. That’s 41.57 percent above the 2024 assessment of $409,700 and 72 percent above the 2020 assessment of $337,200. There do not appear to be major building permits associated with the property, but three separate requests for “provisional use” were applied. (Residential Neighborhood A, 0.074 acres)
• Another property purchased by the Piedmont Housing Alliance has been turned over to the Piedmont Community Land Trust for them to sell the structure to a qualified homeowner. In this manner, a single-family attached unit in the 700 block of Prospect Avenue sold for $155,000. The structure was valued by the city in 2024 assessed at $151,700 making the transaction 2.18 percent above the assessment. (Residential Neighborhood A, 0.083 acres)

April 24, 2024

• A couple has purchased two separate homes on Rothery Road and Cameron Lane in the Lewis Mountain neighborhood for $1.95 million. That price is 40.24 percent above the 2024 combined assessment of $1,390,500. The structure on Rothery Road is a one bedroom cottage and the one on Cameron Lane is a three bedroom structure built in 1900. (Residential-A, 0.91 acres)
• The company that is developing as many as 72 units on property formerly owned by the Mount View Baptist Church in the Locust Grove neighborhood has bought a second single family home along one driveway into the development. Mount View Properties bought 1212 River Vista Avenue for $450,000. That’s 17.46 percent above the 2024 assessment of $383,100 and 79.86 percent above the 2020 assessment of $250,200.
  The same company bought 1216 River Vista in December for $425,000. Their other properties are 1200 Landonia Circle, 1201 Landonia Circle, 1221 Landonia Circle, and 1133 Otter Street. There have been various boundary line adjustments.
  
  The main development is tied to the 1221 Landonia Circle address. There have been two rounds of comments on a preliminary site plan with the most recent dated March 1, 2024. On March 11, 2024, the city’s zoning administrator approved a request to modify the Planned Unit Development plan to build the first phase in two steps. (Residential-A, 0.165 acres)

April 25, 2024

• A three bedroom townhouse built in 2009 on Rainier Road in the Fry’s Spring neighborhood sold for $491,200. That’s 10.33 percent above the 2024 assessment of $445,200 and 35.77 percent above the 2020 assessment of $361,800. The purchaser is an entity called Toyo and Palo LLC. (Residential-C, 0.048 acres)
• A two bedroom house built in 1925 on Druid Avenue in Belmont sold for $172,700. That’s 36.27 percent below the 2024 assessment of $271,000. This property was most recently owned by the U.S. Department of Housing and Urban Development following a foreclosure last year. (Residential-A, 0.139 acres)
• An entity called Belmont Bungalette LLC spent $295,000 for a two bedroom house built in 1925 on Early Street. That’s 1.7 percent below the 2024 assessment of $300,1000 and 34.76 percent above the 2020 assessment of $218,900. (Residential-A, 0.145 acres)

April 26, 2024

• A one bedroom apartment in the Gleason on Garrett Street with 876 square feet sold for $595,000. That’s 9.03 percent above the 2024 assessment of $595,000 and 48.05 percent above the 2020 assessment of $401,900. (Node Mixed Use 10, N/A)
• In one transaction, Neighborhood Investments purchased 106 Perry Drive in the North Downtown neighborhood and 238 Sunset Avenue in the Fry’s Spring neighborhood for $930,000. The combined assessment for both properties is $987,800, making this transaction 5.85 percent below the 2024 combined assessment of $953,500 and 45.95 percent above the 2020 combined assessment of $637,200. The house on Sunset is has four bedrooms split across two units. The house on Perry Lane is a two unit house with a total of three bedrooms. (Residential-A, .0905 acres)

April 29, 2024

• A company called Delloraine Log Homes purchased 516 Caroline Avenue in the Woolen Mills on March 31, 2023 for $150,000. They got a building permit to remodel the vacant structure that had been on the site with the work valued at $80,000. The new home sold for $582,400 to an entity called 516 Caroline Avenue LLC. The real estate firm Long and Foster describe the building as a three bedroom Cape Cod cottage with brand new everything. The property also backs up what is now parkland owned by the City of Charlottesville. (Residential-A, .207 acres)
• A four bedroom house built in 1962 on Bunker Hill Drive in the Greenbrier neighborhood sold for $1.1 million. That’s 73.97 percent above the 2024 assessment of $632,300 and 133.79 percent above the 2020 assessment of $470,500. The only recent building permit is for a gas line replacement last year. (Residential-A, 0.37 acres)
• A three bedroom townhouse built in 2001 as part of the Ridgecrest development in Belmont sold for $325,000. That’s 5.93 percent above the 2024 assessment of $306,800 and 71.14 percent above the 2020 assessment of $189,900. (Residential-C, 0.04 acres)
• A five bedroom house split into two units in the 1100 block of Little High Street sold for $930,000. That’s 38.95 percent above the 2024 assessment of $669,300 and 72.09 percent above the 2020 assessment of $540,400. There are no new building permits associated with the property. (Residential-A, 0.02 acres)

April 30, 2024

• A three bedroom house built in 1941 on Wayside Place in the Venable neighborhood sold for $985,000. That’s 17.61 percent below the 2024 assessment of $1,195,500 and 8.72 percent above the 2020 assessment of $906,000. (Residential-A, 0.43 acres)
• A three bedroom house built in 1967 on Trailridge Road in the Johnson Village neighborhood sold for $557,500. That’s 34.69 percent above the 2024 assessment of $413,900 and 70.65 percent above the 2020 assessment of $326,700. A building permit was issued for a deck addition in 2020. (Residential-A, 0.354 acres)
• A three bedroom house built in 1958 on Moseley Drive in the Fry’s Spring neighborhood sold for $500,000. That’s 10.74 percent above the 2024 assessment of $451,500 and 44.63 percent above the 2020 assessment of $345,700. (Residential-A, 0.221 acres)
• Another three bedroom house also built in 1958 on Moseley Drive sold for $511,543. That’s 34.62 percent above the 2024 assessment of $380,000 and 78.05 percent above the 2020 assessment of $287,300. (Residential-A, 0.27 acres)
• A four bedroom house built in 2015 on Mulberry Avenue in the Fry’s Spring neighborhood sold for $810,000. That’s 2.65 percent above the 2024 assessment of $789,100. The building permit from 2015 states that the estimated value of construction back then was $175,000. (Residential-A, 0.17 acres)
• A two bedroom house built in 1940 on Bruce Avenue in the Barracks / Rugby sold for $600,000. That’s 3.16 percent above the 2024 assessment of $581,600 and 43.47 percent above the 2020 assessment of $418,200. (Residential-A, 0.184 acres)
• The final entry relates to the Hotel Quirk being bought by a different entity. I’m going to write about that in the next regular edition of Charlottesville Community Engagement. For now, take a look at Catie Ratliff’s story in a recent C-Ville Weekly. 

Before you go: The time to write and research of this article is covered by paid subscribers to Charlottesville Community Engagement. In fact, this particular installment went out to people who have paid through Substack six days before being posted here to Information Charlottesville.

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