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A Historic Virginia Highland Mansion With Income-Producing Rental Properties Included

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While a vague sense of the historic hangs over the entirety of Virginia Highland, this landmark house on North Highland is a touchstone. Rumored (according to the broker babble) to have been built by Edwin Grove, the pharmaceutical magnate and original developer of the Atkins Park neighborhood and the Grove Park Inn in Asheville, the house offers a lovely blend of the new and old. Much of the period detail circa 1911 is to be found on the exterior, with its tan brick, columns and wide porches. And while the interiors boast woodwork and a grand scale endemic of fine early 20th houses, a renovation completed in 2010 rendered the inside indistinguishable (in a good way) from a recently-built luxury home . The list price of $1,000,000 gets you not only the house, but also an in-law suite and carriage house that currently bring monthly income of $2,570. Assuming you can scrape together a down payment of $200-250k, your tenants will be covering a pretty significant portion of your mortgage. It will take a special buyer to want to live right on North Highland, but the ample pedestrian and car traffic zooming by make rich fodder for the epic porch sitting possible with owning this house.

· 811 North Highland Avenue NE [Intown Expert]