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$1,200,000
5 Beds ⋅ 4 Baths ⋅ VAFX2198236 MLS ⋅ CLOSED Status
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" Plaskett—founders of the Lorton area—the 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. Don’t miss out on the chance to make this exceptional home and development opportunity yours!

8950 Hooes Road, Lorton