Virginia Ave, Culpeper, VA 22701
Local realty services provided by:CENTURY 21 Rauh & Johns
Virginia Ave,Culpeper, VA 22701
$2,000,000
- 54 Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by: jacob a mcnemar
Office: re/max gateway
MLS#:VACU2012830
Source:BRIGHTMLS
Price summary
- Price:$2,000,000
About this home
Looking to build a multi-family investment property in Culpeper, VA? Finding land zoned by right for multi-family development is nearly impossible these days and rezoning a property for that use is even more challenging. The approvals for this project have taken years to secure, and now Willow Grove is shovel-ready! This project has full site plan approval from the Town of Culpeper to construct two buildings totaling 30 units, including a rentable management office. Owner has also obtained full building permit approval for the blueprints. The units are permitted under current codes to be converted into condominiums and sold individually. Additionally, the newly assigned RX zoning provides significant flexibility, including allowance for short-term rentals. While short-term rentals were prohibited in many zoning classifications during the Town of Culpeper’s recent zoning overhaul, they were not banned under this designation — a major advantage for Willow Grove. The only remaining entitlement is the utility plat and deed required by the Town. Surveyor and attorney are currently preparing the remaining minor edits for the third submission. All necessary utilities are already present and accessible on the property, including gravity-fed sewer, power and water. Comcast is readily available to supply internet as well. Located in an area with a near-zero rental vacancy rate, this presents a strong long-term investment opportunity. A strong cap rate for long-term rentals is projected, incorporating short-term rental units could potentially increase that return even further. Approved blueprints and all related documents are available upon request....
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Home facts
- Listing ID #:VACU2012830
- Added:49 day(s) ago
- Updated:April 24, 2026 at 01:42 PM
Rooms and interior
- Bedrooms:54
Heating and cooling
- Cooling:Central A/C
- Heating:90% Forced Air, Electric
Structure and exterior
- Lot area:2.45 Acres
- Architectural Style:Colonial
- Foundation Description:Permanent, Slab
Utilities
- Sewer:No Sewer System
Finances and disclosures
- Price:$2,000,000
- Tax amount:$2,554 (2025)
Parking
- Parking description:Parking Lot
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