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1122 Caroline St 6 Unit Apartment Building $1,475,000 ($245,833/Unit) Fredericksburg, VA 22401
Investment Highlights
- 4,062 SF building spanning four floors
- Dedicated off-street parking lot (rare for downtown)
- Opportunity to increase rents and add value over time
- 6-unit asset providing diversified income stream
- Prime Historic District location with strong foot traffic
Executive Summary
Johnson Realty Advisors presents this 6-unit investment opportunity located at 1122 Caroline Street in the Historic District of Downtown Fredericksburg, one of the region’s most active and walkable corridors. Surrounded by a strong mix of restaurants, retail, and office users, the property benefits from consistent demand and proximity to the city’s core amenities. The asset offers a diversified income stream with six units in place, while also presenting potential for rental upside and long-term appreciation. With its prime downtown location and strong underlying fundamentals, this property is well-positioned for both stable cash flow and future value growth.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$124,200
|
$19.96
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$124,200
|
$19.96
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$32,550
|
$5.23
|
| Net Operating Income |
$91,650
|
$14.73
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $124,200 |
| Annual Per SF | $19.96 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $124,200 |
| Annual Per SF | $19.96 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $32,550 |
| Annual Per SF | $5.23 |
| Net Operating Income | |
|---|---|
| Annual | $91,650 |
| Annual Per SF | $14.73 |
Property Facts
| Price | $1,475,000 | Building Class | C |
| Price Per Unit | $245,833 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 6,222 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CD - Commercial Downtown | ||
| Price | $1,475,000 |
| Price Per Unit | $245,833 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 6,222 SF |
| No. Stories | 3 |
| Year Built | 1912 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | CD - Commercial Downtown |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 7789-15-0946 | Improvements Assessment | $421,600 |
| Land Assessment | $318,000 | Total Assessment | $739,600 |
Property Taxes
Parcel Number
7789-15-0946
Land Assessment
$318,000
Improvements Assessment
$421,600
Total Assessment
$739,600
Contacts
-
Heather Hagerman -
Fitzhugh Johnson -
Kingston Simmons -
Andrew Hall -
Johnson Realty Advisors, Inc.
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