SHOWING BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS.
A very rare multi-family income generating offering in Rappahannock County - 11947 & 11951 Lee Hwy, together for sale on one parcel, present an outstanding opportunity for multi-family rental income. The sale includes two structures containing FOUR grandfathered residential units, ONE commercial unit. Further upside can be realized by finishing to lease unused spaces, bringing rents to market rate and even rehabbing an old fruit stand on the property.
This investment opportunity sits on the highly traveled Rt 211: a major artery seeing 2 million + vehicles per year and opportunistically near the Thornton Gap entrance to Shenandoah National Park. The property is zoned Highway Commercial, allowing for a multitude of by-right uses including short term rentals, retail, food service and hospitality.
Property is served by electric, propane, private well, town sewer and high speed is internet.
P&L available.
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Listing Snapshot
Price
$559,000
Days On Site
248 Days
Bedrooms
4
Inside Area (SqFt)
1,260 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
1.37 Acres
Year Built
1900
MLS® Number
VARP2002446
Status
Active
Property Tax
$2,149
HOA/Condo/Coop Fees
N/A
Sq Ft Source
Estimated
Friends & Family
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Recent Activity
3 months ago
Listing updated with changes from the MLS®
3 months ago
Status changed to Active
8 months ago
Listing first seen on site
General Features
Acres
1.37
Foundation
Stone
Parking
ConcreteGravelOff Street
Property Sub Type
Quadruplex
Sewer
Public Sewer
Special Circumstances
Standard
SqFt Above
1260
SqFt Total
1260
Style
Cottage
Utilities
PropaneSewer AvailableWater AvailableElectricity Available
Did you know? You can invite friends and family to your search. They can join your search, rate and discuss listings with you.