Page Title
Optioned Properties
CURRENT PROPERTIES UNDER OPTION AGREEMENT:
Listed below are properties The Alliance currently has under an Option Agreement. If you have a vacant property that you wish to sell please contact Properties Director Lane Pearson at (804) 644-5040, and we will assist you with the sale of your parcel.
CLICK HERE to learn more about the details of our Option Property Program.
OAKWOOD-CHIMBORAZO HISTORIC DISTRICT
416 North 33rd Street
(Click on the address for a locator map)
This impressive 1890s Italianate house, located in the Oakwood-Chimborazo State and National Historic District, is eligible for state and federal historic rehabilitation tax credits. The frame house features an unusual pyramidal hipped roof, a front porch with detailed historic woodwork, and a two-story side porch, along with intact interior features such as molding, trim, and mantels. The house has a finished living area of over 2,100 square feet in addition to a modern shed along the rear alley.
Zoned: Residential (R-8) Single Family Residential
Description: 30' wide x 124' deep
Please call the Alliance to Conserve Old Richmond Neighborhoods at (804) 644-5040 for more information or to make an appointment with property director Lane Pearson.
OPTION ASKING PRICE: $113,010
All offers will be reviewed & considered by owner.
(Total cost includes $110,000 and reimbursement of The Alliance's $3,010 Option Fee and legal / administrative costs)
Contact: Lane Pearson, Property Director
Phone: 804-644-5040
Email: lpearson@richmondneighborhoods.org
HIGHLAND PARK PLAZA HISTORIC DISTRICT
3104 2nd Avenue
(Click on the address for a locator map)
Located in the Highland Park Plaza State and National Register Historic District, this circa 1910 Colonial Revival is eligible for historic rehabilitation tax credits. It is a two-story, three-bay frame house, with a side-passage plan, featuring a handsome front porch and a finished living area of almost 2,000 square feet. The interior is in good condition, with most of the historic elements intact, including hardwood floors, trim, slate mantels, and clawfoot tub. A new standing-seam metal roof was recently installed.
This property is zoned Residential (R-6) Single Family Attached. Lot size is 35' wide x 140' deep.
Please call the Alliance to Conserve Old Richmond Neighborhoods at (804) 644-5040 for more information or to make an appointment with property director Lane Pearson.
OPTION ASKING PRICE: $43,100
All offers will be reviewed & considered by owner.
(Total cost includes $40,000 and reimbursement of The Alliance's $3,100 Option Fee and legal / administrative costs)
Contact: Lane Pearson, Property Director
Phone: 804-644-5040
Email: lpearson@richmondneighborhoods.org
BROOKLAND PARK HISTORIC DISTRICT
2927 Garland Avenue
(click on the address for a locater map)
2927 Garland Avenue is listed as a contributing structure in the Brookland Park Historic District, making it eligible for state and federal historic tax credits. This 2-story stucco residence has a wide front porch and entry with transom and sidelight windows. Please call the Alliance to Conserve Old Richmond Neighborhoods at (804) 644-5040 for more information or to make an appointment with property director Lane Pearson.
Zoned: Residential Two-Story
Description: 35' wide x 135' deep
OPTION ASKING PRICE: $52,500
All offers will be reviewed & considered by
owner.
(Total cost includes 50,000 and reimbursement of
The Alliance's $2,500 Option Fee and legal / administrative costs)
Contact: Lane Pearson, Property Director
Phone: 804-644-5040
Email: lpearson@richmondneighborhoods.org
FAIRMOUNT HISTORIC DISTRICT
1418 North 21st Street
(click on the address for a locater map)
1418 N 21st Street is listed as a contributing structure in the Fairmount Historic District, making it eligible for state and federal historic tax credits. This Queen Anne style house is a wood frame structure with false mansard roof and three bay front porch. Please call The Alliance to Conserve Old Richmond Neighborhoods at (804) 644-5040 for more information or to make an appointment with property director Lane Pearson.
Zoned: R6 Residential Single Family Attached
Description: 25' wide x 126.5' deep
OPTION ASKING PRICE: $62,500
All offers will be reviewed & considered by
owner.
(Total cost includes 60,000 and reimbursement of
The Alliance's $2,500 Option Fee and legal / administrative costs)
Contact: Lane Pearson, Property Director
Phone: 804-644-5040
OAKWOOD-CHIMBORAZO HISTORIC DISTRICT
1514 North 35th Street
(click on the address for a locater map)
This house, which is eligible for rehabilitation tax credits, is for sale by owner. The adjacent lot is included in the purchase. CLICK HERE to see a map of the plat location.
Zoned R5, Single-Family.
Description: 90' wide x 124' deep
ADDITIONAL PHOTOS:
1 - Side of house
2 - Back of house
3 - Adjacent Lot
OPTION ASKING PRICE: $72,000
All offers will be reviewed & considered by
owner.
(Total cost includes 69,500 and reimbursement of
The Alliance's $2,500 Option Fee and legal / administrative costs)
Contact: Lane Pearson, Property Director
Phone: 804-644-5040
Email: lpearson@richmondneighborhoods.org
UNION HILL HISTORIC DISTRICT
2428 Venable Street
(click on the address for a locater map)
2428 Venable Street is listed as a contributing structure in the Union Hill Historic District, making it eligible for state and federal historic tax credits. This Italianate residence is two stories and features a 3-bay front porch with Ionic columns and decorative dentils and brackets on its cornice. Please call The Alliance to Conserve Old Richmond Neighborhoods at (804) 644-5040 for more information or to make an appointment with property director Lane Pearson.
Zoned: R63 Residential Multi-Family
Description: 30' wide x 155' deep
OPTION ASKING PRICE: $52,500
All offers will be reviewed & considered by
owner.
(Total cost includes 50,000 and reimbursement of
The Alliance's $2,500 Option Fee and legal / administrative costs)
Contact: Lane Pearson, Property Director
Phone: 804-644-5040
Email: lpearson@richmondneighborhoods.org
UNION HILL
2111 Cedar Street
(click on the address for a locater map)
Lot, shown above, is for sale by owner.
Zoned R1-R6.
Description: 0016.49 x 0128.45
If you have an interest in this property, call The Alliance for further details and to make an appointment to see the full potential of this property or to submit a bid.
OPTION ASKING PRICE: $20,000
All offers will be reviewed & considered by
owner.
(Total cost is $22,500 including reimbursement of
The Alliance's $2,500 Option Fee and legal / administrative costs)
Contact: David Herring
Phone: 804-644-5040
Email: lpearson@richmondneighborhoods.org
All information provided is deemed reliable but is not guaranteed and should be verified.
IMPORTANT INFORAMTION ABOUT THE OPTION PROPERTY PROGRAM:
What Exactly is an Option Property?
This is when The Alliance purchases selling options with our Revolving Fund on vacant or abandoned buildings in Richmond's old neighborhoods. An "Option To Sell" gives The Alliance an exclusive right to find a purchaser for the property during a specific time frame at an established price. This means that The Alliance would use the agreed upon period of time to find a purchaser committed to renovating the property. The Alliance does not profit from the sale of an option, by keeping prices as low as possible we hope to move more properties back to productive use.
BASIC STEPS FOR AN OPTION AGREEMENT
- Property Owner and The Alliance review the Option Agreement
- The Alliance evaluates property for condition and to determine if it can find a buyer for the house.
- Terms and purchase price of Option are determined that will include the amount of time required to sell the property.
- Option Agreement is drafted for the Owner and The Alliance to sign.
- The Alliance pays Owner for this Option from its Revolving Fund.
- The Alliance actively promotes the property through its web site, advertising, and various data base contacts.
- Once a buyer is found, The Alliance will draft a separate Purchase Contract that will go to a real estate closing attorney.
- All offers will continue to be presented to the Seller for a particular property until a Purchase Contract is signed.
- The Buyer, upon signing a purchase contract, will also enter into a Rehabilitation Agreement with The Alliance to ensure that the property is properly renovated within a reasonable time period.
The Alliance pays $500.00 for the exclusive right to find a purchaser for a property that is reimbursed to our Revolving Fund. In addition, we charge a $3,000.00 flat fee to cover our internal administrative and legal expenses. Both of these expenses are paid to The Alliance by the purchaser of the property.