11947 Lee Hwy Sperryville, VA 22740
Estimated payment $3,309/month
Highlights
- Cottage
- 60+ Gallon Tank
- Heat Pump System
- Halls are 36 inches wide or more
About This Home
SHOWING BY APPOINTMENT ONLY. DO NOT DISTURB TENANTS.
Cross listed as multi-family (VARP2002052) & single family ( VARP2002162) as grandfathered residential in a commercial zone.
A very rare offering in Rappahannock County - 11947 & 11951 Lee Hwy, together for sale on one parcel, present an outstanding opportunity for multi-family rental income. The sale includes two structures containing FOUR grandfathered residential units, ONE commercial unit. Further upside can be realized by finishing unused spaces, bringing current rents to market rate and even rehabbing an old fruit stand on the property.
This investment opportunity sits on the highly traveled Rt 211: a major artery seeing 2 million + vehicles per year and opportunistically near the Thornton Gap entrance to Shenandoah National Park. The property is zoned Highway Commercial, allowing for a multitude of by-right uses including short term rentals, retail, food service and hospitality.
Property is served by electric, propane, private well, town sewer and high speed is internet.
P&L available.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,149
Year Built
- Built in 1900
Home Design
- 1,260 Sq Ft Home
- Cottage
- Stone Foundation
- Shingle Roof
- Asphalt Roof
- Metal Roof
- Vinyl Siding
Parking
- 8 Parking Spaces
- 8 Off-Street Spaces
- Gravel Driveway
Utilities
- Ductless Heating Or Cooling System
- Heat Pump System
- 200+ Amp Service
- Propane
- 60+ Gallon Tank
- Well
Additional Features
- Halls are 36 inches wide or more
- 1.37 Acre Lot
Listing and Financial Details
- Tax Lot 5
- Assessor Parcel Number 38A 1 5
Community Details
Overview
- 4 Units
Building Details
- Income includes apartment rentals
- Net Operating Income $27,500
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,184 | $358,100 | $120,000 | $238,100 |
| 2023 | $2,184 | $358,100 | $120,000 | $238,100 |
| 2022 | $2,149 | $358,100 | $120,000 | $238,100 |
| 2021 | $1,550 | $212,300 | $80,000 | $132,300 |
| 2020 | $1,550 | $86,500 | $0 | $86,500 |
| 2019 | $1,550 | $212,300 | $80,000 | $132,300 |
| 2018 | $1,550 | $212,300 | $80,000 | $132,300 |
| 2017 | $1,486 | $0 | $0 | $0 |
| 2016 | -- | $212,300 | $0 | $0 |
| 2015 | -- | $0 | $0 | $0 |
| 2014 | -- | $241,100 | $80,000 | $161,100 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2025 06/30/25 | For Sale | $565,000 | -- | $448 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $500,000 | Chicago Title | |
| Deed | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $275,000 | Seller Take Back |
Source: Bright MLS
MLS Number: VARP2002052
APN: 38A-1-5
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