Former Spudnuts building sells for $1.1 million and 35 other Charlottesville property transactions from September 2024

Plus: Habitat Carlton Alliance takes possession of Carlton Mobile Home Park and Neighborhood Investments buys an empty lot in Fifeville

As promised, here is a list of property transactions in the City of Charlottesville for the month of September. This month seems to be one of the least active periods since I began this series in January 2021. That’s backed up by the quarterly report from the Charlottesville Area Association of Realtors which I wrote about earlier this month.

This work is a function of my research. I look at every single transaction as I sift for stories for the newsletter and to follow up my reporting on development of the city’s new zoning code through the Cville Plans Together initiative. Thanks to paid subscribers footing the bill, I’m able to do a lot of legwork.  

I am particularly interested in the growth in assessments since 2020. Both the pandemic and the increase in development rights permitted by the new zoning code likely both play a role, but scarce supply is almost certainly a factor. 

One of the products of the Cville Plans Together initiative was an Affordable Housing Plan that morally committed Council to spend $10 million a year on housing issues. They have well exceeded that amount but demands for more money are likely. 

Council’s ability to spend money is assisted by a significant rise in the amount of revenue derived from the real property tax. In 2019, the total taxable assessed value for the 15,071 taxable properties listed in the Land Book was $7,647,893,000. That yielded a total tax amount of $72,654,983 in tax revenue.

In 2024, the total number of taxable parcels rose to 15,114 and the total amount eligible for tax increased by over $3.25 billion. The Land Book published on April 1 of this year had a figure of $104,649,939.84 in tax revenue based on a tax rate of $0.96 per $100 per assessed value. 

However, Council then increased the property tax rate to $0.98 and that brought in $2.18 million in revenue. There was very little opposition at any of the public hearings this cycle. 

What will the assessments be in 2025? What will the surplus for FY2024 be? Will City Council increase tax rates any further next April? Will candidates emerge for Council that represent a different philosophy of government? 

These are the broader questions I am interested in reporting, and I am grateful for your paid support so I can keep asking the questions. This particular post was posted first to the Charlottesville Community Engagement newsletter feed on November 14 behind a paywall to encourage new paid subscriptions. Now it is here as promised.

There are no analytical trends in this summary, but I recognize the need to provide more of that information. I don’t mention exact addresses unless a corporation bought the property. I try to explain as much as I can, but many of these will become bigger stories. I’ve already written some of those either for the newsletter or for my weekly column in C-Ville Weekly. 

September 3, 2024

• A company called Real Trigon, Inc, has purchased 121 Shamrock Road for $900,000. This is a five bedroom house just a few doors down from Scott Stadium at the University of Virginia. The sales price is 81.27 percent above the 2024 assessment of $496,500 and 155.83 percent above the 2020 assessment of $351,800. (Residential Mixed Use 3, 0.202 acres)
• A single family attached home in the 500 block of Rives Street in the Belmont-Carlton neighborhood sold for $415,000. That’s 21.42 percent above the 2024 assessment of $329,000 and 59.8 percent above the 2020 assessment of $259.700. This is a unit constructed as part of the Sunrise Park development overseen by Habitat for Humanity of Greater Charlottesville. (Residential-B, 0.03 acres)
• A three bedroom house built in 2021 in the 1600 block of Rialto Street sold for $649,950. That’s 8.96 percent above the 2024 assessment of $596,500 and 29.96 percent above the 2021 assessment of $500,100. This is a unit constructed as part of the Rialto Beach Planned Unit Development. (Residential-A, 0.06 acres)

September 4, 2024

• A two bedroom house built in 1925 on 4th Street SW in the Fifeville neighborhood sold for $585,000. There’s also a one bedroom cottage built in 2008 on the lot. In 2005, the Piedmont Housing Alliance paid $75,000 for the property but sold it a year later at the same price to FNRI LLC. This is one of the properties that is now zoned in a way to try to discourage gentrification. This sales price is 55.59 percent above the 2024 assessment of $376,000 and 140.94 percent above the 2020 assessment of $199,600. (Residential Neighborhood A, 0.008 acres)

September 5, 2024

• A three bedroom house built in 1958 on Brookwood Drive in the Ridge Street neighborhood sold for $335,000. That’s 39.82 percent above the 2024 assessment of $239,600. This is another property in what had been identified in the Comprehensive Plan as one of the “Sensitive Communities” where Census data revealed there are more residents at economic risk. (Residential Neighborhood A, 0.138 acres)
• A three bedroom house built in 1900 in the 800 block of Belmont Avenue sold for $820,000. That’s 42.56 percent above the 2024 assessment of $575,200 and 86.15 percent above the 2020 assessment of $440,500. (Residential-A, 0.133 acres)

September 6, 2024

• A three bedroom house built in 1958 in the 1700 block of King Mountain Road in the Greenbrier neighborhood sold for $699,000. That’s 20.12 percent above the 2024 assessment of $581,900 and 62.07 percent above the 2020 assessment of $431,300. (Residential-A, 0.402 acres)

September 9, 2024

• Neighborhood Investments LLC purchased a vacant lot in Fifeville for $2.24 million at about 80.49 percent above the 2024 assessment of $1,241,100. Commercial property often works differently than residential property in terms of assessments and the 2020 assessment was actually higher at $1,368,600. There is an approved site plan for this property for a mixed-use property, but developer Richard Spurzem told me in September he was not decided what he would do. I wrote about this transaction for C-Ville Weekly. Nothing new has been filed since then. (Commercial Mixed Use, 0.56 acres) 

September 10, 2024

• Another church that had been marketed for other potential uses has been purchased by a new congregation. The Shepherd’s House Worship Center purchased 808 Blenheim Avenue for $475,000. That’s 52.54 percent above the 2024 assessment of $311,400. The property has been marketed a residence, but the Realtor selling the property told me she was pleased it would once again be a church. I’ll write a longer story about this somewhere, likely for C-Ville Weekly. (Residential-A, 0.139 acres)

September 11, 2024

• 139 Valley LLC has sold 139 Valley Road to 128 Shamrock LLC for $688,000. This price is 9.97 percent above the 2024 assessment of $625,600 and 45.61 percent above the 2020 assessment. 128 Shamrock LLC now owns 124, 126, and 128 Shamrock Road. In 2022, Charlottesville’s Department of Neighborhood Development Services issued a permit to remove an underground tank at 128 Shamrock. 139 Valley Road is not contiguous to those three properties. 128 Shamrock LLC is registered to an address in Falls Church, Virginia. (Residential-B, 0.28 acres)
• 128 Shamrock also bought 124 Shamrock on this day for $600,000. That’s 25.31 percent above the 2024 assessment of $478,800 and 40.15 percent above the 2020 assessment of $428,100. This and the two other properties will be one to watch. (Residential Mixed Use 3, 0.139 acres)

September 12, 2024

• A four bedroom house built in 1949 in the 700 block of Park Street sold for $745,000. That’s 12.78 percent above the 2024 assessment of $660,600 and 51.33 percent above the 2020 assessment of $492,300. (Residential-A, 0.251 acres)
• A building at 412 East Jefferson Street in downtown Charlottesville sold for $800,000 to an entity called Robert Shallow LLC. That’s 21.45 percent above the 2024 assessment of $658,700 and 45.96 percent above the 2020 assessment of $548,100. (Downtown Mixed Use, N/A)
• A 1,200 square foot condominium at 107 West Main Street with one bedroom on the Downtown Mall sold for $400,000. The purchaser is an entity called Sky Mall LLC. The transaction is 17.95 percent below the 2024 assessment of $487,500 and 47.6 percent above the 2020 assessment of $271,000. (Downtown Mixed Use, N/A)

September 16, 2024

• A four bedroom house in the 700 block of Graves Street in the Belmont-Carlton neighborhood sold for $582,000. That’s 2.3 percent above the 2024 assessment of $568,900 and 35.35 percent above the 2020 assessment of $430,000. (Residential-A, 0.104 acres)

September 17, 2024

• A three bedroom house in the 2000 block of Thomson Road in the Lewis Mountain neighborhood sold for $1,115,000. That’s 43.03 percent above the 2024 assessment of $807,500 and 121.35 percent above the 2020 assessment of $521,800. (Residential-A, 0.227 acres)
• A four bedroom house in the 900 block of Cottage Lane in the Venable neighborhood sold for $1,087,750. That’s 5 percent below the 2024 assessment of $1,114,500 and 23.5 percent above the 2020 assessment of $880,800. (Residential-A, 0.241 acres)
• A three bedroom townhouse on Greenwich Court in the Ridgecrest section of the Belmont-Carlton neighborhood sold for $310,000. That’s 8.39 percent above the 2024 assessment of $286,000 and 58.89 percent above the 2020 assessment of $195,100. The unit was built in 1999. (Residential-C, 0.04 acres)

September 18, 2024

• The building that used to be Spudnuts followed by Quality Pie and will soon be Bar Tomas has a new owner. An individual purchased both 309 Avon Street and 711 Levy Avenue for $1.1 million. That is 65.74 percent above the 2024 combined assessment of $663,700. (Corridor Mixed Use 3, 0.245 acres)
• Miscellaneous Properties LLC is the new owner of 1114 Monticello Road. The entity paid $1 million for the apartment building. The purchase price is 74.37 percent above the 2024 assessment of $573,500. (Corridor Mixed Use 3, 0.1725 acres)
• A single family attached house in the 700 block of Prospect Avenue in the Orangedale section of Fifeville sold for $296,500. That’s 39.27 percent above the 2024 assessment of $212,900 and 119.79 percent above the 2020 assessment of $134,900. The property was last sold in April 2021 for $161,855. (Residential Neighborhood A, 0.094 acres)
• The Piedmont Community Land Trust purchased an empty lot at 356 11th Street NW for $73,150. That’s 4.75 percent below the 2024 assessment of $76,800. They will only be able to build two units because this is a property zoned for the lowest possible density in Charlottesville. (Residential Neighborhood A, 0.08 acres)
• Cavalier Hospitality LLC has purchased 218 West Market Street from Heirloom Development for $5.75 million. Heirloom Development had planned to build an apartment building but asked the Board of Architectural Review earlier this year what they would think about a hotel. Plans have been submitted for a certificate of appropriateness for a hotel and the BAR will have an initial discussion at their meeting on November 19. The purchase price is 41.11 percent above the 2024 assessment of $4,074,800. (Downtown Mixed Use, 0.56 acres)

September 19, 2024

• A three bedroom house on University Circle built in 1920 sold for $2,305,000. The purchase price is 39.64 percent above the 2024 assessment of $1,535,500 and 80.8 percent above the 2020 assessment of $1,274,900. (Residential-A, 0.33 acres)

September 20, 2024

• A two bedroom condominium with 825 square feet in the apartment building at 1800 Jefferson Park Avenue sold for $270,000. That is exactly the 2024 assessment. In 2020 the assessment was $208,500. (Residential Mixed Use 5, N/A)

September 24, 2024

• A coalition known as the Habitat Carlton Alliance paid $7.25 million for the Carlton Mobile Home Park at 1500 Carlton Avenue. That is 186.98 percent above the 2024 assessment of $2,526,300 and 201.33 percent above the 2020 assessment of $2,406,000. The entity is made up Habitat for Humanity of Greater Charlottesville and the Piedmont Housing Alliance. They will use a $8.75 million forgivable loan from the City of Charlottesville to pay for the project to prevent it from being sold on the private market. For more information, take a look at a story I wrote in mid-September about the financing and next steps. (Residential Mixed Use 3, 6.425 acres) 

September 25, 2024

• Both sides of a duplex on Harmon Street in the Jefferson Park Avenue neighborhood sold for $501,000. That’s 20.29 percent above the 2024 assessment of $416,500 and 58.44 percent above the 2020 assessment of $316,200. (Residential Mixed Use 3, 0.153 acres)

September 26, 2024

• A three bedroom house in the 1400 block of Rugby Avenue sold for $430,000. That’s 4.76 percent below the 2024 assessment of $451,500 and 34 percent above the 2020 assessment of $320,900. (Residential-C, 0.17 acres)
• A three bedroom house built in 1959 in the 1400 block of Holly Road in the Greenbrier neighborhood sold for $580,000. That’s 13.84 percent above the 2024 assessment of $509,500 and 53.97 percent above the 2020 assessment of $376,700. (Residential-A, 0.312 acres)
• A five bedroom house built in 2017 in the 1500 block of Grove Road sold for $1,905,000. That’s 37.97 percent above the 2024 assessment of $1,380,700 and 85.06 percent above the 2020 assessment of $1,029,400. (Residential-B, 0.29 acres)
• A two bedroom condominium with 2,989 square feet at 218 West Water Street sold for $2,014,000. That’s 11.54 percent above the 2024 assessment of $1,805,600. The 2023 assessment was $1,038,100 which reflects a previous condition before the space was outfitted for inhabitants. (Downtown Mixed Use, N/A)
• A two bedroom condominium in the apartment building at 1800 Jefferson Park Avenue sold for $310,000. That’s 15.93 percent above the 2024 assessment of $267,400 and 102.35 percent above the 2020 assessment of $153,200. (Residential Mixed Use 5, N/A)

September 27, 2024

• A three bedroom house built in 1948 in the 300 block of Alderman Road sold for $700,000. That’s 7.38 percent below the 2024 assessment of $755,800 and 57.55 percent above the 2020 assessment of $444,300. This house is adjacent to another house on Alderman for which six townhomes are slated to replace a single family house. I wrote about that one, too.  (Residential-B, 0.355 acres)
• A four bedroom house in the 700 block of Locust Avenue sold for $1.5 million. This structure was built in 1900 according to the city’s GIS. The transaction is 3.23 percent above the 2024 assessment of $1,453,000 and 52.38 percent above the 2020 assessment of $984,400. (Residential-A, 0.587 acres)

September 30, 2024

• A four bedroom house on Baylor Lane in the Ridge Street neighborhood sold for $643,300. That’s 11.12 percent above the 2024 assessment of $578,900 and 55.54 percent above the 2020 assessment of $413,600. (Residential-A, 0.13 acres)

Thoughts? Questions? Ask in the comments.

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