Multi-Family Opportunity in Petersburg, VA
29 South Jefferson Street Petersburg Virginia 23803
$795,000
One South Commercial is pleased to present this exceptional investment opportunity of a fully renovated historic 6-unit multifamily property located in the heart of downtown Petersburg, VA. This historic gem has been meticulously updated inside and out, blending classic
charm and architectural features with contemporary convenience. Each of the six (6) 1-bedroom units offers the perfect blend of historic elegance and modern comfort, making it an attractive option for tenants seeking a unique living experience in a vibrant urban setting just blocks away from the City’s center.
This property has undergone an extensive comprehensive renovation and replacement of all building systems, including electrical, plumbing, roof, and HVAC. This means minimal maintenance and high efficiency for years to come. Each unit features modern kitchens with new appliances, updated bathrooms, in-unit laundry facilities, and new finishes throughout. Retaining its historic character, the property boasts original architectural details such as high ceilings, large windows, and period-specific finishes, offering a unique living experience. The property has also been enhanced with extensive sitework and landscaping, providing a serene and attractive environment for residents as well as a generous off street parking component. Situated in downtown Petersburg, tenants will enjoy easy access to local shops, restaurants, entertainment venues, and public transportation. The property’s central location makes it a highly desirable living option. With all units being 1-bedroom, the property caters to a wide demographic, including young professionals, couples, and retirees, ensuring a steady rental demand as Petersburg continues to grow.
Fully renovated and modernized, this property requires no additional investment, offering immediate rental income potential. Downtown Petersburg is undergoing significant revitalization, with rising property values and increasing demand for quality housing. The demand for modernized historic apartments in downtown Petersburg ensures high occupancy rates and consistent rental income. Don’t miss this rare opportunity to own a piece of Petersburg’s history, perfectly positioned for strong returns and long-term growth.
ONE OF THE MOST HISTORIC CITIES IN VA, PETERSBURG HAS TRADITIONALLY SERVED AS AN IMPORTANT CENTER OF TRANSPORTATION AND COMMERCE. It remains an important hub today with its location along I-95 and CSX and Norfolk Southern rail lines. As the site for numerous events that have shaped the history of the Commonwealth during both the Colonial period and Civil War, Petersburg has also developed as an attraction for heritage tourism. Old Towne today is a district of antique galleries, boutiques, craft shops, restaurants, cafes, and a mix of renovated residences. Although the oldest part of Petersburg lies along the bank of the Appomattox River, Old Towne Petersburg extends South to Wythe Street. City government offices, the beautiful Courthouse complex, the Petersburg Visitors Center, the Petersburg Area Art League and scores of historic and architecturally significant structures are located in Old Towne Petersburg. In addition to its historic charm, Petersburg is also becoming increasingly well-known for its festivals that draw thousands of visitors
and locals. The monthly Friday for the Arts! is a celebration of all forms of art located in twenty or more venues throughout the downtown. Free concerts ranging from classical to blues to rock delight guests throughout the evening. Another popular event is the Festival of Grapes and Hops that recently celebrated its 10th anniversary in 2018. As the name implies, food, beer, and wine are the stars of this popular annual event. Along with this emerging tourism industry, its proximity to the large employers and educational institutions has spurred recent redevelopment that includes new housing, businesses, and entertainment facilities.
Ann Schweitzer Riley has become a distinguished figure in commercial real estate, focusing primarily on sales of urban commercial properties, including office spaces, retail locations, multi-family buildings, industrial facilities, and mixed-use developments. With a rich background that spans over a decade, Ann has developed a keen expertise in property sales, investment, and development.
A graduate of UVA, Ann’s journey in real estate began as a residential real estate appraiser in Charlottesville, VA. Her career path led her to roles as a legal assistant and later to Richmond in 2008, where she worked with an affordable housing nonprofit. There, she gained a passion for construction and real estate development. This foundation allowed her to excel as a real estate construction project manager and later as a corporate commercial sales agent.
Today, at One South Commercial, Ann is renowned for her sharp insights in market trends, her strategic approach to property disposition, and her ability to optimize asset value for her clients. Her comprehensive understanding of both residential and commercial real estate markets, combined with her specific expertise in commercial sales, makes her an invaluable partner to property owners and buyers alike.
Ann’s commitment to her clients and her profound market knowledge ensure tailored, effective strategies for those looking to invest in or divest commercial real estate assets.
Justin is a seasoned commercial real estate expert with over 15 years worth of experience. Having a widespread knowledge of the Richmond real estate market, Justin is comfortable handling many types of transactions, but his primary practice areas are multifamily and investment sales. Justin possesses a commanding knowledge of Richmond’s rental market, providing his clients with in-depth analysis of the competitive landscape and value-added solutions. Justin is a Richmond native and a graduate of Virginia Commonwealth University.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
