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Megan Neal

info@megannealhomes.com +1(803) 868-2487

Listed by Jake McNemar • RE/MAX Gateway

$ 2,000,000

Est. payment | -/mo

2.45 Acres Lot

Save

$ 2,000,000

Est. payment | -/mo

Save

2.45 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Active

Purchase Type For Sale

MLS Listing ID VACU2012830

Style Unit/Flat,Colonial

Annual Tax Amount $2,554

Tax Year 2025

Lot Size 2.448 Acres

Acres 2.45

Property Sub-Type Detached

Source BRIGHT

Property Description

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.

Location

State VA

County Culpeper

Zoning R2

Interior

Hot Water Electric

Cooling Central A/C

Fireplace N

Heat Source Electric

Exterior

Garage Spaces 56.0

Water Access N

Accessibility None

Total Parking Spaces 56

Garage N

Building

Foundation Permanent, Slab

Sewer No Sewer System

Water None

Architectural Style Unit/Flat, Colonial

Additional Building Above Grade, Below Grade

New Construction Y

Schools

School District Culpeper County Public Schools

Others

Tax ID 40 75

Ownership Fee Simple

Special Listing Condition Standard

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(803) 868-2487

info@megannealhomes.com

Fredericksburg, VA, 22408, USA

Learn More About LPT Realty

VIRGINIA AVE Culpeper, VA 22701