25-27 S Jefferson Street

Description

This incredible scalable offering to renovate and operate 12 multifamily units in the heart of downtown Petersburg offers significant upside to any buyer looking for a significant value-add opportunity. Comprised of three (3) parcels totaling 0.686 acres at the prominent corner of S Jefferson St and E Wythe St, this unique assemblage can be sold altogether as 12 units or broken into two separate offerings of 6 units each. The properties retain an array of attractive original historic features including several fireplaces, heart pine flooring, and original molding. 25-27 S Jefferson St. offers a total of six (6) units which include five (5) units in the main building and a standalone unit in the carriage house. The unit mix is comprised of 1 and 2 bedroom units, which require light to moderate renovations. 29 S Jefferson is comprised of six (6) 1 bedroom units, and renovation work has been underway on this building. A highly flexible and unique investment opportunity, this offering lends itself to several strategies including a long term hold--or renovate, stabilize, and sell, either jointly or severally.