Description
Nestled in Petersburgs premier Walnut Hill neighborhood is 1676 S Sycamore Street. This 36-unit redevelopment opportunity is prime for an investor looking to dive into the Petersburg market or expand their portfolio with a potential top class asset. The property is located within a voluntary historic district; making it eligible for historic tax credits. This campus-oriented property boasts five separate buildings, originally constructed in 1936, with full brick construction and slate roofs. The property includes a mix of 2-bedroom/1-bath and 1-BD/1-BA units with select floor plans featuring a separate dining area. Many units have retained original features such as hardwood floors, ample closet space, and built-in shelving. The center of the campus features large amounts of green space and potential off-street parking. Currently, only 20 units are operational with all tenants on month-to-month leases. The remaining 16 units vary in condition with some partially renovated and others needing full renovations. Structural work will need to be conducted in one of the buildings.
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0BEDS
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1.69ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Nestled in Petersburgs premier Walnut Hill neighborhood is 1676 S Sycamore Street. This 36-unit redevelopment opportunity is prime for an investor looking to dive into the Petersburg market or expand their portfolio with a potential top class asset. The property is located within a voluntary historic district; making it eligible for historic tax credits. This campus-oriented property boasts five separate buildings, originally constructed in 1936, with full brick construction and slate roofs. The property includes a mix of 2-bedroom/1-bath and 1-BD/1-BA units with select floor plans featuring a separate dining area. Many units have retained original features such as hardwood floors, ample closet space, and built-in shelving. The center of the campus features large amounts of green space and potential off-street parking. Currently, only 20 units are operational with all tenants on month-to-month leases. The remaining 16 units vary in condition with some partially renovated and others needing full renovations. Structural work will need to be conducted in one of the buildings.
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Listing provided by One South Realty Group, Llc: 804-353-0009. Listing information © 2023 CVRMLS and CBRAR.