I have an investment opportunity in Petersburg, VA. I hear a lot about the good parts of Petersburg and the bad parts of Petersburg.
Can anyone describe generally where the good parts are and where the bad parts are? The property I am looking at is on N. Whitehill Drive, 23803.
that area is probably a C-. Not a war zone..
Thank you @Mike S. ! Message me if you have any interest in buying in that area and I'll let you know if/when I have the property.
Anything close to Central park, police station and old towne is typically "good". Hopewell is pretty hot right now and not too far away if you are investing in lower income areas.
Old Town Petersburg (right over the bridge coming from Colonial Heights) is an interesting area. A lot of new commercial development, heavy loft development. I would imagine something on the periphery of that area might see some future value. I've been curious about that area myself. For now, sticking to north of the bridge, in the Ettrick / Colonial Heights area, single family rental.
We have a few properties in Petersburg, VA. The address you listed is located very close to a low income complex, so if your goal is to rent to HUD/Section 8, maybe, but there is a lot of crime and that's not a very desirable location. Unless it's nearly at the cost of the land, I would pass.