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Exceptional opportunity to acquire a versatile, income-producing property consisting of two buildings, four residential rental units, and an established commercial space in a convenient Fredericksburg location. The property offers investors the opportunity to generate income from multiple sources while creating additional value through renovations, leasing, or redevelopment. 1802 Fall Hill Avenue features two spacious two-bedroom, one-bath residential units. The ground-floor unit has been recently renovated with new flooring, cabinets, appliances, and updated bathroom fixtures, offering an attractive move-in-ready rental. The upper-level two-bedroom, one-bath unit is occupied by a long-term tenant and provides established rental income. 1804 Fall Hill Avenue includes a two-bedroom, one-bath residential unit, an existing convenience store currently operated by the owners, and a two-bedroom, one-bath apartment above the commercial space. The commercial component provides an investor with several potential strategies: continue operating the existing convenience store, lease the space to a new operator, or explore other potential retail, deli, or commercial uses, subject to applicable zoning and approvals. With four residential units plus commercial income potential, this property provides a diversified investment profile and the opportunity to increase future revenue through strategic improvements and leasing. The residential units have historically maintained strong occupancy, creating an attractive foundation for an investor seeking both immediate income and long-term upside. The property also offers a substantial amount of common-area space that may present an opportunity for future development, potentially including an additional duplex, subject to zoning, site-plan approval, permitting, and feasibility. On-street parking is available for tenants. Ideally situated near Mary Washington Hospital and the University of Mary Washington, this property benefits from a convenient location with access to employment, education, medical facilities, shopping, dining, and downtown Fredericksburg. Four residential units + commercial space + value-add opportunities + potential future development = a compelling investment opportunity in Fredericksburg. Bring your vision and explore the possibilities this property has to offer.
| DAYS ON MARKET | 1 | LAST UPDATED | 9/9/2026 |
|---|---|---|---|
| YEAR BUILT | 1914 | COUNTY | FREDERICKSBURG CITY |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | FREDERICKSBURG CITY PUBLIC SCHOOLS |
|---|---|
| High School | JAMES MONROE |
| ADDITIONAL DETAILS | |
| AIR | Electric, Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| BASEMENT | Crawl Space |
| CONSTRUCTION | Wood Siding |
| HEAT | Forced Air, Natural Gas |
| LOT | 5227 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 2 |
| TAXES | 2736 |
| WATER | Public |
| ZONING | Mixed-Use - 4 residential apartment units and a retail commercial space attached to one of the build |
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