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$800,000
INVESTOR SPECIAL in the heart of Fredericksburg! Exceptional income-producing opportunity just two blocks from the University of Mary Washington and minutes from Mary Washington Hospital, Central Park shopping, and the Cowan Boulevard retail corridor. This unique multifamily property is currently configured as a triplex with the potential for up to five rental units depending on your investment strategy and occupancy plan. Whether you're looking to expand your rental portfolio, create student housing, pursue mid-term rentals for medical professionals, or maximize cash flow through multiple income streams, this property offers tremendous upside. Main House: 2 Bed 1 Bath Upstairs: 1 Bed 1 Bath Basement: (2) 1 Bed 1 Bath Rear Building: 2 Bed 1 Bath Recent improvements include three new HVAC systems, a new water heater, all-new luxury vinyl plank flooring throughout, and updated drywall replacing the original wood paneling. Electrical upgrades have been started, including installation of a new service panel; however, work was not completed and will require permits and completion by the new owner. Conveniently located near dining, shopping, healthcare facilities, and major commuter routes, this property is ideally positioned to attract tenants year-round. Property is being sold strictly AS IS. Buyer to perform all due diligence regarding zoning, unit count, permits, and intended use. Don't miss this rare value-add multifamily opportunity in one of Fredericksburg's most desirable rental markets!

1318 Dandridge St, Fredericksburg

Listing courtesy of Berkshire Hathaway HomeServices PenFed Realty. Contact:

$899,900
5 Beds ⋅ 4 Baths
Nestled in the heart of the sought-after College Heights neighborhood near University of Mary Washington, 1500 Augustine Avenue is a timeless treasure filled with character, warmth, and thoughtful updates. Built in 1940, this charming historic home blends classic architectural details with flexible modern living. From the copper gutters and slate roof to the stone façade and mature landscaping, every inch of this property welcomes you home. A charming walkway winds through lush gardens to the side entrance, where the breezeway connecting the original home to the addition creates the perfect everyday entry. To the left, the thoughtfully designed addition offers exceptional flexibility — currently used as a spacious Family Room, yet equally suited as a luxurious main-level Primary Suite. This inviting retreat features a newly renovated spa-inspired bathroom with dual vanities, custom tile work, a corner soaking tub, and gleaming corner shower with dramatic vertical tile detail. A large walk-in closet provides abundant storage, while private access to the deck and patio creates a peaceful connection to the outdoors. The backyard is truly a sanctuary, complete with mature shade trees, flowering shrubs, perennial gardens, a detached shed with potting space and storage for tools and toys, plus a charming playhouse ready to delight once again. Back inside the main home, vintage charm shines throughout. A quaint powder room on the right feels delightfully true to the home’s 1940 roots, while the light-filled kitchen offers generous prep space, ample cabinetry, sunny backyard views, and lovely display shelving above the cabinets. The formal Dining Room is ideal for gatherings and showcases beautiful built-in display shelves perfect for treasured collections. A welcoming front foyer opens into the center hallway and leads to the gracious Living Room — a space that instantly feels like home. Just beyond, a warm and inviting library features a cozy gas fireplace, built-ins for books and keepsakes, and access to a shady elevated porch perfect for relaxing and watching the neighborhood pass by. Upstairs, the spacious primary upper-level bedroom is filled with natural light from abundant windows. Two additional bedrooms, a charming seating nook, and a vintage full bath with classic tilework complete the second level. The lower level provides even more versatile living space with a comfortable Recreation Room/Den featuring additional built-ins, a beautifully renovated third full bath, and a legal fifth bedroom currently used for storage. With its separate exterior entrance, sitting area, and kitchenette space, the lower level offers exciting possibilities for guest quarters, apartment-style living, or multi-generational flexibility. This home has been lovingly maintained and recent improvements are available to your agent through Agent Remarks -- ask them all about it for your peace of mind. Located in beloved College Heights, residents enjoy tree-lined streets, architectural charm, and exceptional walkability. Explore downtown Fredericksburg’s shops, restaurants, galleries, and riverfront parks, all just minutes away. Convenient access to medical facilities and the Virginia Railway Express makes commuting and everyday living effortless. Going to dinner in town? Walk through the lush UMW campus and you'll be downtown in a matter of minutes. It's a beautiful way to explore our city. Visit today and fall in love with this rare historic gem.

1500 Augustine Ave, Fredericksburg

Listing courtesy of Lando Massey Real Estate. Contact: