New owner for KFC franchise on Emmet Street and 42 other Charlottesville property transactions from August 2024

I am quite far behind on my periodic postings of property transactions in the City of Charlottesville. I have been doing these since January 2021 and they have so far been the sole “premium” item that comes with a paid subscription to Charlottesville Community Engagement. 

The production of these is pretty simple. I am perhaps the most prolific writer of articles about land use in the Charlottesville area. When I was at Charlottesville Tomorrow, I began to do research into property transactions to have a better sense of some of the bigger dynamics going on. Here are two stories that kicked off the work.

Even when I was not in journalism, I still looked at property transactions to look for certain items such as times when the University of Virginia Foundation purchases land for eventual use by the University of Virginia. When I became an independent journalist, I decided to make it part of my beat and so I look at every single transaction.

To be able to do this work, I need a steady income. One source of that income is through Substack, which makes up more than half of my revenue. It had been over a month since I posted one of these, so I posted this edition on November 6, 2024. I’m hoping to get September 2024 out today.

Here’s a basic rundown:

• I check every property against the city’s new development portal to see if anything has been planned.
• I look at each transaction’s percentage above the 2024 assessment and previous years, mostly with 2020. I want to point out just how much assessments have increased in the past five years. Those comparisons are not adjusted for inflation. 
• I do not name individuals or families that purchase properties and I don’t identify specific properties in these cases. I do name corporate purchasers and give those addresses. 

I’m reluctant to provide any trends because I’m still learning certain skills. I’m aware that people want this information, and perhaps I’ll get there. Thank you to paid subscribers for providing a way for me to keep the journey going. Consider becoming one. In the near future, there may be other ways to contribute to keep this going and hopefully hire people to assist me

August 1, 2024

• A two bedroom house built in 1950 on Azalea Drive in the Fry’s Spring neighborhood sold for $390,000. That’s 31.76 percent above the 2024 assessment of $296,000 and 74.5 percent above the 2020 assessment of $223,500. (Residential-A, 0.22 acres)
• Neighborhood Investments purchased a 1,098 square foot three bedroom unit at 1910 Jefferson Park Avenue for $200,000. That’s 15.47 below the 2024 assessment of $236,600 and 5.03 percent below the 2020 assessment of $210,600. (Commercial Mixed-Use 5, N/A)
• A four bedroom house built in 1938 on Winston Road in the Venable neighborhood sold for $1,092,700. That’s 18.98 percent below the 2024 assessment of $1,348,600 and 3.22 percent above the 2020 assessment of $1,058,600. Since purchasing the home, the new owners have filed a building permit for renovations valued at $150,000. This was issued on October 11. (Residential-A, 0.25 acres)
• Home Savers LLC purchased 1008 Coleman Street for $417,100. That’s 21.44 percent below the 2024 assessment of $530,900. The purchase price is 34.98 percent above the 2020 assessment of $309,00. (Residential-A, 0.23 acres)

August 2, 2024

• A 1,233 square foot two-bedroom condominium in what used to be called the Maclin Building sold for $725,000. That’s 50.98 percent above the 2024 assessment of $480,200 and 80.21 percent above the 2020 assessment of $402,200. (Downtown, N/A)
• A three bedroom single-family detached house built in 2021 on Nicholson Street in the Lochlyn Hill subdivision sold for $150,000 but this appears to be a sale within a family and would not be factored in the calculations for the 2025 assessments. The property was assessed at $593,600 in 2021 and $681,800 in 2024. (Residential-A, 0.1 acres)
• Catalina Holdings LLC  now owns a two bedroom house at 911 Martin Street in the Locust Grove neighborhood. The purchase price is 13.69 percent below the 2024 assessment of $417,100 and 39.86 percent above the 2020 assessment of $257,400. (Residential-A, 0.15 acres)

August 5, 2024

• TAP Investments LLC purchased 1113 5th Street SW for $1,375,000. This is the site of a former bank that is at the same intersection that features the single entrance to the Willoughby subdivision. The sales price is 1.31 percent above the 2024 assessment of $1,357,200 and 21.66 percent above the 2020 assessment of $1,130,200.
  
  The new zoning code is Commercial Mixed Use 8, which would allow for an eight-story building with unlimited residential density as well as many commercial possibilities.  In the fall of 2022, City Council denied a special use permit to allow Green Clean Albemarle LLC to operate a car wash on the property. (Commercial Mixed Use 8, 0.09 acres)

• 
  A two bedroom condominium in the building at 202 Douglas Avenue sold for $710,000. That’s 1.63 percent above the 2024 assessment of $698,600 and 74.83 percent above the 2020 assessment of $406,100. (Residential Mixed Use 3, N/A)
• A four bedroom house split it into two units on Westerly Avenue sold for $485,000. That’s 3.10 percent below the 2024 assessment of $500,500 and 33.1 percent above the 2020 assessment of $364,400. (Commercial Mixed Use 5, 0.185 acres)
• A two bedroom house in the 1500 block of Rugby Avenue in the Barracks / Rugby neighborhood sold for $625,000. That’s 3.55 percent above the 2024 assessment of $603,600 and 45.93 percent above the 2020 assessment of $428,300. (Residential-B, 0.344 acres)

August 7, 2024

• A three bedroom house built in 1946 in 200 block of Monte Vista Avenue in the Fry’s Spring neighborhood sold for $419,200. That’s 16.64 percent below the 2024 assessment and 33.38 percent above the 2020 assessment of $314,300. (Residential-A, 0.16 acres)
• A three bedroom house built in 1957 in the 300 block of Monte Vista Avenue sold for $389,000. That’s 11.47 percent below the 2024 assessment of $439,400 and 15.7 percent above the 2020 assessment of $336,200. (Residential-A, 0,275 acres)
• A four bedroom house built in 1980 in the 1800 block of University Circle in the Venable neighborhood has been sold for $1.05 million. That’s 7.39 percent above the 2024 assessment of $977,700 and 37.81 percent above the 2020 assessment of $761,900. (Residential-A, 0.261 acres)

August 8, 2024

• A three bedroom house built in 1940 in the 500 block of Valley Road sold for $670,000. That’s 4.02 percent above the 2024 assessment of $644,100 and 73.85 percent above the 2020 assessment of $385,400. (Residential-B, 0.3 acres)
• A five bedroom house also in the 500 block of Valley Road and also built in 1940 sold for $700,000. That 89.6 percent above the 2024 assessment of $369,200 and 156.87 percent above the 2020 assessment. There’s no active land use permit that I could find. This property last sold in 1976 for $24,400 to a person who transferred it to an LLC in December 1996. The purchaser is Royal Blue Properties LLC, a company that owns two other properties in town. (Residential-B, 0.13 acres)

• A one bedroom apartment with 715 square feet in the Walker Square condominium complex sold for $335,000. That’s 25.61 percent above the 2024 assessment and 66.01 percent above the 2020 assessment of $201,800. (Residential Mixed Use 5, N/A)
• An eight bedroom house built in 1900 at 1604 Grady Avenue has sold for $1.825 million. That’s 179.05 percent above the 2024 assessment of $654,000 and 169.73 percent above the 2020 assessment of $676,600. There do not appear to be any pending land use applications. The new owner is 1604 Grady LLC, a company with a New Orleans address. At one point the property was Alpha Delta Phi of Charlottesville. (Residential Mixed Use 5, 0.179 acres)

August 12, 2024

• A three bedroom house built in 1945 on Minor Road in the Lewis Mountain neighborhood sold for $905,000. That’s 38 percent above the 2024 assessment of $655,800. That price is also 120.84 percent above the 2020 assessment of $409,800. (Residential-A, 0.24 acres)
• A three bedroom townhouse built in 2008 in the Cherry Hill subdivision sold for $481,000. That’s 5.76 percent above the 2024 assessment of $454,800 and 33.87 percent above the 2020 assessment of $359,300. This is in the Johnson Village neighborhood. (Residential-C, 0.048 acres)
• A three bedroom house built in 1978 on Greenbrier Terrace in the Greenbrier neighborhood sold for $400,000. That’s 0.83 percent above the 2024 assessment and 49.7 percent above the 2020 assessment. (Residential-B, 0.2 acres)
• A three bedroom house built in 1920 in the 1100 block of Blenheim Avenue in Belmont sold for $230,000. That’s 30.11 percent below the 2024 assessment of $329,100 and 7.03 percent above the 2020 assessment of $214,900. (Residential-A, 0.13 acres)

August 14, 2024

• A three bedroom house built in 1987 in the 1000 block of St. Charles Avenue in the Locust Grove neighborhood sold for $400,000. That’s 0.07 percent below the 2024 assessment of $300,200 and 27.71 percent above the 2020 assessment of $313,200. (Residential-A, 0.172 acres)

August 15, 2024

• Zhu Realty Investments purchased a vacant commercial property on 5th Street Extended for $500,000. That’s 39.53 percent below the 2024 assessment of $826,800 and 24.4 percent below the 2020 assessment of $661,400. (Commercial Mixed Use 8, 0.94 acres)
• A three bedroom house built in the 1600 block of Yorktown Drive sold for $785,000. That’s 32.76 percent above the 2024 assessment of $591,300 and 79.31 percent above the 2020 assessment of $437,800. (Residential-A, 0.476 acres)
• The Kentucky Fried Chicken franchise at 1705 Emmet Street is now owned by an entity called 1705 Emmet VA LLC. This company paid $1,324,004 which is 54.13 percent below the 2024 assessment of $2,886,500. The purchasing entity has an address of Plano, Texas. (Node Mixed Use 8, 0.68 acres)
• A 2,598 square foot two bedroom condominium at 218 West Water Street sold for $1.45 million. That’s 7.49 percent below the 2024 assessment of $1,567,400 and 10.23 percent below the 2020 assessment of $1,615,200. (Downtown Mixed Use, N/A) 
• A three bedroom house built in 1967 in the 1500 block of Chesapeake Street sold for $690,000. That’s 14.14 percent above the 2024 assessment of $604,500 and 42.83 percent above the 2020 assessment of $483,100. (Residential-A, 0.25 acres)

August 16, 2024

• A three bedroom townhouse on Waterbury Court in the Ridgecrest Development in the Belmont-Carlton neighborhood sold for $300,000. That’s 14.11 percent above the 2024 assessment of $262,900 and 72.61 percent above the 2020 assessment of $173,800. (Residential-C, 0.04 acres)

August 19, 2024

• A four bedroom house built in 1953 in the 800 block of Locust Avenue in the Martha Jefferson neighborhood sold for $550,000. The price includes a second quarter-acre lot immediately behind the first one that has an address of St. Charles Avenue because it “fronts” on a paper street. The sales price is 10.07 percent below the 2024 combined assessment of $611,600 for both lots. The sales price is 29.41 percent above the 2020 assessment of $425,000. (Residential-A, 0.465 acres)
• A three bedroom townhouse on Waterbury Court sold for $295,000. That’s 12.21 percent above the 2024 assessment of $262,900 and 80.98 percent above the 2020 assessment of $163,000. (Residential-C, 0.04 acres)
• Both sides of a single-family attached home on Rosa Terrace in the Ridge Street neighborhood sold for $325,000. That’s 14.5 percent below the combined 2024 assessment of $380,100 and 17.03 percent above the 2020 assessment of $277,700. (Residential-A, 0.238 acres)

August 20, 2024

• A two bedroom house in the 1100 block of Montrose Avenue in the Belmont neighborhood sold for $505,000. That’s 45.49 percent above the 2024 assessment of $347,100 and 122.37 percent above the 2020 assessment of $227,100. (Residential-A, 0.13 acres)
• A newly constructed three-bedroom house at 922 Bolling Avenue sold for $291,000. When the property last sold to Antsy Me LLC in June 2022 for $330,000, there was a house on the property. The company demolished the house that had been there and built a new one. The new house had been listed at $299,900. Assessment information would not be valid here, but I did write about this property for C-Ville Weekly last year. (Residential-A, 0.139 acres)
• A three bedroom house in the 1400 block of Oxford Road sold for $670,000. That’s 9.23 percent above the 2024 assessment of $613,400 and 52.83 percent above the 2020 assessment of $438,400. (Residential-A, 0.19 acres)
• A two bedroom house built in 1923 at 2206 Jefferson Park Avenue has sold for $550,000 to a firm called 2206 JPA LLC. That company has a McLean, Virginia address. (Residential-A, 0.164 acres)

August 21, 2024

• A three bedroom townhouse on Burnet Street in the Ridge Street neighborhood sold for $350,000. That’s 7.82 percent below the 2024 assessment of $379,700 and 27.41 percent above the 2020 assessment of $274,700. This is part of Burnet Commons Three, a partnership of Southern Development and Habitat for Humanity of Greater Charlottesville. In this transaction, Habitat waived their right of first refusal. (Residential-C, 0.02 acres)

August 22, 2024

• A three bedroom house in the 1400 block of River Road in the Woolen Mills Locust Grove neighborhood sold for $397,000. The property also has a one bedroom cottage. The sales price is 23.92 percent below the 2024 assessment of $517,500. The sales price is also 24.65 percent above the 2020 assessment of $308,300. (Residential-A, 0.275)

August 23, 2024

• A three bedroom house in the 1000 block of Park Street sold for $530,000. That’s 2.85 percent above the 2024 assessment of $515,300 and 45.36 percent above the 2020 assessment of $364,600. (Residential-B, 0.19 acres)
• The surface parking lot at 808 West Main Street had its titled changed from Union Station Partners to Allan H. Cadgene, Trustee, and Scott M. Raney, Trustee. This not a sale but of interest to those who watch development in the city. (Commercial Mixed Use 8, 1.75 acres)

August 26, 2024

• A four bedroom house in the 800 block of Anderson Street in the 10th and Page neighborhood sold for $150,000. This is a sale within a family and will likely not be factored into the calculation of the 2025 assessments. The 2024 assessment is $420,900. (Residential Neighborhood A, 0.092 acres)

August 29, 2024

• Ninja Baby LLC has sold 317 East Main Street to Full Squid LLC for $830,000. The space is currently the home of Cafe Frank. This transaction is 11.19 percent below the 2024 assessment of $934,600 and 0.36 percent below the 2020 assessment of $833,000. (Downtown Mixed Use, 0.04 acres)

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