924 Rainier Rd, Charlottesville, VA 22903

$2,950,000
4
BD
3
BA
2,536
SqFt
List Price
$2,950,000
Status
ACTIVE
MLS#
654060
Price Change
▼ $500,000 1720218322
Bedrooms
4
Bathrooms
3
Living Area
2,536
Lot Size
2,178
Year Built
2008
Subdivision
Cherry Hill
Region
Charlottesville

Property Description

6 Cherry Hill homes offered individually or as an investment package. Leased through Summer 2025. Super popular with UVA Medical and JAG. Near UVA Hospital, Campus and Downtown pedestrian mall. Luxury 3-level, 3-4 BR homes with 2 car detached garages and fenced rear courtyards! Two floor plans offered. Slight variations per home. Owner/Broker Licensed in Va. Recent zoning changes may allow for add'l income opportunities-verify. Strong rental history with steady stream of very qualified renters from UVA Hospital/JAG. Solid appreciation and annual rent increases. Homes often rent site unseen, within days of listing. Often, multi-year leases, from 2- 8 years. Super Location w subdivision green spaces, picnic tables, and walking trails. Nearby Smith Aquatic and Fitness Center, Ix Park, as well as 5th Street Shopping Ctr-Wegmans, Dicks, Panera, Alamo Drafthouse... Adjacent to Johnson Elementary. Easy I-64 access. Net ROI 9% (Income-Expenses, with depreciation). Add Historical appreciation 7.89% for a tremendous 16.89% return Each property owned by a different entity. Homes are occupied by tenants through Summer 2025. Lease extensions likely on some homes. Tenants pay HOA, covers landscaping/snow removal.

Additional Information

Hoa Fee
$708
Stories
3 Story
Heating
Natural Gas
Garage
Yes
View
Residential View
Water
Public Water
Sewer
Public Sewer
Elementary School
Johnson (Charlottesville)
Middle School
Walker & Buford
High School
Charlottesville

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Barrington Realty Llc.