Property Summary
This is an incredible scalable offering of 12 multi-family units in the heart of downtown Petersburg. This renovation opportunity offers significant upside to any buyer looking for a significant value-add opportunity. Comprised of three (3) parcels totaling 0.686 acres at the prominent corner of S Jefferson St and E Wythe St, this unique assemblage can be sold altogether as 12 units or broken into two separate offerings of six (6) units each. The properties retain an array of attractive original historic features including several fireplaces, heart pine flooring, and original molding.
25-27 S Jefferson St. offers a total of six (6) units which include five (5) units in the main building and a standalone unit in the carriage house. The unit mix is comprised of 1- and 2-bedroom units, which require light to moderate renovations. 29 S Jefferson St consists of six (6) 1-bedroom units. Renovation work has been underway on this building. A highly flexible and unique investment opportunity, this offering lends itself to several strategies including a long-term hold or a renovate, stabilize, and sell, either jointly or severally. Located in both an Opportunity Zone and Enterprise Zone, 25-29 S Jefferson St provides a perfect opportunity to leverage multiple incentive programs while building significant equity
quickly in a rapidly emerging market.
- 12 Multi-Family Units
- Renovation Opportunity
- Opportunity & Enterprise Zone
*This is a portfolio sale and can be sold together or separately with 25-27 South Jefferson Street for $950,000 total. Petersburg tax records not updated with owner LLC — recorded deed of gift signed and notarized 1/19/23. Square footage pulled from tax records — to be confirmed by purchaser.
PROPERTY DETAILS
| Units | 12 |
|---|---|
| Parcel ID | 022-110002, 022-110003, & 022-110800 |
| Const. Materials | Brick |
| Zoning Desc. | B-2 |
| Construction Date | 1870 |
| Co-broker Fee | Yes |