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Key Details
Sold Price $550,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $229
Subdivision None Available
MLS Listing ID VAFB2006760
Sold Date 11/08/24
Style Victorian
Abv Grd Liv Area 2,400
Originating Board BRIGHT
Year Built 1889
Annual Tax Amount $3,465
Tax Year 2022
Lot Size 4,791 Sqft
Acres 0.11
Property Description
Welcome to 703 Prince Edward Street, a charming duplex located in the heart of historic downtown Fredericksburg, offering both investment potential and residential appeal. Zoned CD (Commercial Downtown), this property is currently configured as two units: a 2-bedroom on the main level and a 3-bedroom on the upper floors, generating $2,800 in monthly rental income from long-term tenants, with leases and deposits to be assigned to the purchaser at settlement. Buyers can explore various options, from continuing its use as an investment property to converting it back into a single-family home or even living in one unit while renting out the other. The property holds great potential for value-add improvements, making it a versatile opportunity for investors or homeowners. Located in a vibrant, community-centered town, residents enjoy easy access to restaurants, boutique shopping, craft and farmers markets, and year-round cultural events. Commuters benefit from proximity to the VRE, Amtrak, and I-95, offering convenient access to Washington D.C., Northern Virginia, and Richmond. Embrace the benefits of living in a historic town with a rich sense of community, while also tapping into Fredericksburg’s strong rental market. This is an exceptional chance to own a piece of history and make it your own. Don’t miss out on this opportunity—schedule your showing today!
Location
State VA
County Fredericksburg City
Zoning CD
Interior
Interior Features Ceiling Fan(s), Carpet, Crown Moldings, Bathroom - Tub Shower, Entry Level Bedroom, Family Room Off Kitchen, Floor Plan - Traditional, Kitchen - Galley, Wood Floors
Hot Water Electric
Heating Hot Water
Cooling Window Unit(s), Ceiling Fan(s)
Flooring Wood, Vinyl, Tile/Brick, Carpet
Fireplaces Number 5
Equipment Refrigerator, Stove
Fireplace Y
Appliance Refrigerator, Stove
Heat Source Natural Gas
Exterior
Exterior Feature Porch(es)
Water Access N
Roof Type Metal
Accessibility None
Porch Porch(es)
Garage N
Building
Lot Description Level
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Victorian
Additional Building Above Grade, Below Grade
Structure Type Dry Wall,Plaster Walls
New Construction N
Schools
Elementary Schools Call School Board
Middle Schools Walker-Grant
High Schools James Monroe
School District Fredericksburg City Public Schools
Others
Tax ID 7789-13-1937
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Gregory D Talley • Buyers Advantage Real Estate of Virginia, LLC