8950 Hooes Rd, Lorton, Virginia, United States | Homes For Sale at GLOBAL LISTINGS

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Home For Sale

$1,195,000

8950 Hooes Rd
Lorton, Virginia, United States

5bd 3.5ba

Listed By: Realtyww Info

Listed On: 08/24/2024

Listing ID: GL11443477 View More Details

Description

Attention Investors: Discover a prime investment opportunity with significant potential returns! This property, zoned R-1 (Residential 1 DU/AC), presents a unique chance to capitalize on a ready-to-go subdivision project while collecting rental income. With a tenant lease in place until November 30, 2025, providing $4, 500 per month in rent, you can generate income while finalizing the subdivision process for an additional 2-acre lot. Key Features: Subdivision Opportunity: The subdivision plan for three lots is fully prepared and ready for county submission. This allows for the construction of two single-family homes, each approximately 5, 000 square feet on 1 acre of land. County Approval: All county comments have been addressed and confirmed during a county meeting, making the subdivision ready for final approval. Investment to Date: Over $150K has already been invested in engineering and subdivision preparation. All related documents and applications are available for review in the county records. Renovated Existing Property: The current house has undergone a complete renovation in 2024, including updates to the roofing, siding, flooring, kitchen, bathrooms, doors, windows, and garage, with a total investment of approximately $400K. Transfer of Plans: All engineering plans and subdivision documents can be transferred to the new owner, allowing immediate benefit from the subdivision process. Appraisal Value: Post-subdivision, the appraisal value exceeds $1.8 million for the three lots, with the potential to surpass $4 million after the construction of the two new homes. Current Home Description: This stunning, move-in-ready, 4, 142 sqft single-family residence is situated on a beautiful 3-acre lot in the heart of Lorton. Originally built in 1913 by Samuel Davis and Mary Molly Plaskettfounders of the Lorton areathe Victorian-style home has been meticulously renovated in 2023 to preserve its historical charm while incorporating modern amenities. Featuring five bedrooms, three full baths, and one-half bath, this spacious home is perfect for professionals seeking a tranquil, nature-filled environment without sacrificing the convenience of city living. The property includes a 2-story, 400 sqft storage shed that can be utilized as storage or an office. The home boasts four original fireplaces with chimneys in the family room, living room, master bedroom, and a second bedroom. Enjoy summer evenings in the outdoor areas, perfect for entertaining family and friends. The property offers a stunning front and back yard, shaded by large, mature trees, providing the perfect blend of city amenities, vibrant community, and peaceful living. If you're seeking a unique investment opportunity with the charm of historical living, this property is your ideal choice. Dont miss out on the chance to make this exceptional home and development opportunity yours!

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Listed by: Serif Soydan, Ph.d.