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$250,000
F Dr. Arnett, a prominent physician, built the Arnett Apartments, which is textbook Art Deco from the exterior facade to the lavishly designed lobby with encaustic tile flooring, curving steps and iron railing, and built-in mailboxes. Living nearby in what is now the Old West End Historic District, Dr. Arnett invested his earnings in 1928 in providing housing for the booming economy.
With six National Register Districts, the city's urban core is being revitalized by newcomers, who appreciate the small town ambience, low crime rate, and amazingly affordable real estate prices. The Old West End incorporates land that originally belonged to Major Sutherlin, whose nearby home is now the Danville Museum of Fine Arts & History. The neighborhood is currently inhabited with professors from nearby Averett University, medical staff from DRMC, and young couples who value the 10-minute walk to downtown cafes, law offices, and shops.
The Arnett Apartments is a historic three-story brick structure (approx. 7,614 SF) consisting of ten apartments: 2 BR x 2 and 1 BR x 8. The building has been improved by each successive owner, and now needs another facelift to include new HVAC. Current monthly rents range from $260 to $365, with occupancy typically at 70%. Property is eligible for state and federal tax credits. This is a perfect location to appeal to new Institute of Advanced Learning and Research (IALR) graduate students.
Listing Agent..................Judy Vipperman.....home 434-793-2563 ....cell 434-489-5739
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rom
the time of reconstruction to the stock market crash, Danville built some of the
most extraordinary architecture in the Commonwealth. The unparalleled
prosperity of tobacco and textiles has left the landscape covered with ornate
Victorian mansions, handmade brick warehouses and mills, and classic worker
cottages.
