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Cell Block Residences 10 Irving Ave N 4 Unit Apartment Building $999,876 ($249,969/Unit) 10% Cap Rate Colonial Beach, VA 22443
Executive Summary
The Cell Block Residences – A One-of-a-Kind Downtown Colonial Beach Opportunity
Located just one block from the Potomac River, this truly unique property—known as The Cell Block Residences—offers a rare blend of history, design, and income potential in the heart of downtown Colonial Beach. Originally the town’s historic Fire Department turned Police Department, this iconic building was fully renovated in 2023 into three elevated residential units plus an adjoining commercial space, all thoughtfully designed to maximize usability and long-term value.
The main level features two fully furnished 1-bedroom, 1-bath units, each with its own full kitchen and washer/dryer. These units can be rented individually or opened to function as one larger living space, offering exceptional flexibility for short-term, mid-term, or long-term rental strategies.
Upstairs, you’ll find a spacious 2-bedroom, 1.5-bath unit, with the added potential to create a third bedroom or office using space currently reserved for owner storage. Both the front main-level unit and the upper-level unit enjoy Potomac River views, adding to their rental appeal.
Throughout the building, intentional design elements elevate the space—exposed brick, steel beams, sound-dampening materials, and creative use of every square foot reflect a renovation done with both style and function in mind.
The adjoining commercial space, currently untouched and still featuring the original jail cells, offers a rare opportunity for future income or adaptive reuse—perfect for a boutique business, gallery, tasting room, or creative concept that fits the downtown vibe.
A paved parking lot with approximately 10 spaces supports both residential and commercial use—an invaluable asset in a walkable downtown setting.
The residential units have a proven rental history, successfully operating as short-term, mid-term, and long-term rentals with minimal vacancy—making this an ideal opportunity for investors or owner-operators.
Located just steps from the town pier, public beaches, boardwalk, restaurants, and boutiques, this property sits at the center of everything that makes Colonial Beach such a sought-after destination.
Whether you’re looking to invest, expand a portfolio, or own a truly distinctive downtown property, The Cell Block Residences offers unmatched character, flexibility, and location.
Located just one block from the Potomac River, this truly unique property—known as The Cell Block Residences—offers a rare blend of history, design, and income potential in the heart of downtown Colonial Beach. Originally the town’s historic Fire Department turned Police Department, this iconic building was fully renovated in 2023 into three elevated residential units plus an adjoining commercial space, all thoughtfully designed to maximize usability and long-term value.
The main level features two fully furnished 1-bedroom, 1-bath units, each with its own full kitchen and washer/dryer. These units can be rented individually or opened to function as one larger living space, offering exceptional flexibility for short-term, mid-term, or long-term rental strategies.
Upstairs, you’ll find a spacious 2-bedroom, 1.5-bath unit, with the added potential to create a third bedroom or office using space currently reserved for owner storage. Both the front main-level unit and the upper-level unit enjoy Potomac River views, adding to their rental appeal.
Throughout the building, intentional design elements elevate the space—exposed brick, steel beams, sound-dampening materials, and creative use of every square foot reflect a renovation done with both style and function in mind.
The adjoining commercial space, currently untouched and still featuring the original jail cells, offers a rare opportunity for future income or adaptive reuse—perfect for a boutique business, gallery, tasting room, or creative concept that fits the downtown vibe.
A paved parking lot with approximately 10 spaces supports both residential and commercial use—an invaluable asset in a walkable downtown setting.
The residential units have a proven rental history, successfully operating as short-term, mid-term, and long-term rentals with minimal vacancy—making this an ideal opportunity for investors or owner-operators.
Located just steps from the town pier, public beaches, boardwalk, restaurants, and boutiques, this property sits at the center of everything that makes Colonial Beach such a sought-after destination.
Whether you’re looking to invest, expand a portfolio, or own a truly distinctive downtown property, The Cell Block Residences offers unmatched character, flexibility, and location.
Property Facts
| Price | $999,876 | Property Subtype | Apartment |
| Price Per Unit | $249,969 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 10% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 9.09 | Building Size | 3,200 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1940/2023 |
| Zoning | R/C - Resort Commercial | ||
| Price | $999,876 |
| Price Per Unit | $249,969 |
| Sale Type | Investment |
| Cap Rate | 10% |
| Gross Rent Multiplier | 9.09 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 3,200 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1940/2023 |
| Zoning | R/C - Resort Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1.5 | 3 | - | - |
1 1
Property Taxes
| Parcel Number | 3A2-2-75-10 | Improvements Assessment | $225,300 |
| Land Assessment | $55,800 | Total Assessment | $281,100 |
Property Taxes
Parcel Number
3A2-2-75-10
Land Assessment
$55,800
Improvements Assessment
$225,300
Total Assessment
$281,100
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Cell Block Residences | 10 Irving Ave N
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