PRICE ADJUSTMENT | 5.7 Acres Ready for Multifamily Development in Henrico County
1601 Darracott Road is an estate sale and well-situated as a large, 5.7 acre parcel for an investor looking to for an opportunity to capitalize on the burgeoning residential market in Henrico County. The site is currently accessed from an unimproved portion of Darracott Road that begins less than 500 feet from the intersection of E Parham Rd and Villa Park Dr. The relatively flat parcel is improved by a two-story brick residence constructed in 1942 that is currently vacant.
Under the current A-1 (Agriculture) zoning regulations, the property can be developed with up to five residential units based on the parcel size. Alternatively, a potential rezoning of the property to R-5 (General Residence) would permit approximately 50 or more townhomes to be developed. Such a project would be similar in design and density to the existing Townes at Stonewall Manor development by Stylecraft Homes on the adjacent property to the north.
There is a clear and significant need for new housing developments in Western Henrico County. Whether developed as single-family or multifamily, 1601 Darracott Rd’s location in Western Henrico County and its proximity to Downtown Richmond makes it ideally suited to serve this growing housing demand.
