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    Lynchburg Multifamily Investment Opportunity
    Updated: Apr 9
    Lynchburg Multifamily Investment Opportunity

    1664 Graves Mill Road, Lynchburg, VA 24502

    $899,000
    6,792 sqft 0.70 AC lot
    Income‑producing 8‑plex generating $7,700 monthly
    Prime location on Graves Mill Road with high traffic
    Each unit features a desirable 2‑bedroom, 1‑bath layout
    Strong rental history and consistent tenant demand
    Located in a thriving commercial area with long‑term upside potential
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    This listing looks promising.

    Here's a quick look at some key insights for

    1664 Graves Mill Road, Lynchburg, VA 24502

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    • Est. Cap Rate

      6%
      Above avg (5.9%)

    • Est. NOI

      $54K
      Annual

    • Mortgage

      $324K
      Jun 2020

    • Last Sold

      Apr 2023
      $620K

    • Property Type

      Apartment House
      Built 1970
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    Lynchburg Multifamily Investment Opportunity
    Updated: Apr 8
    Lynchburg Multifamily Investment Opportunity

    1664 Graves Mill Road, Lynchburg, VA 24502

    $899,000
    6,792 sqft 0.70 AC lot
    Income‑producing 8‑plex with 16 bedrooms and 8 full bathrooms
    All 8 units feature 2 bedrooms and 1 full bath
    Monthly income listed as $7,700
    Heat pump heating and heat pump cooling
    Year built: 1970
    View details
    Income-Producing 8-Plex Apartment Building
    Income-Producing 8-Plex Apartment Building

    1664 Graves Mill Rd, Lynchburg, VA 24502

    $899,000
    6,792 sqft

    Eight residential units generate monthly income with consistent 2-bedroom, 1-bath layouts for tenant-ready living.

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    Mixed-Use Building with Development Potential
    Mixed-Use Building with Development Potential

    1703 Enterprise Dr, Lynchburg, VA

    $1,800,000
    6,278 sqft 0.14 AC lot

    High-quality mixed-use building with supplemental development potential in desirable location.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 4 Active listings in Lynchburg, VA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 68 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Two-Story Mixed-Use Building
    Two-Story Mixed-Use Building

    201 S Main Street, Gretna, VA 24557

    $399,900
    10,004 sqft 0.26 AC lot

    Two-story mixed-use property with ground-floor retail and seven residential units above, each with core in-unit appliances and heat.

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    Two-Story Mixed-Use Building
    Two-Story Mixed-Use Building

    201 S Main Street, Gretna, VA 24557

    $399,900
    10,004 sqft 0.26 AC lot

    Mixed-use property with street-level retail space and seven apartments above, each with in-unit appliances and heat pump comfort.

    View details
    Multifamily Property with Laundry Facility
    Multifamily Property with Laundry Facility

    1606 Wayne Street Northeast, Roanoke, VA 24012

    $1,649,655
    27,442 sqft

    Multifamily property featuring 24 units and onsite laundry.

    View details
    Downtown Roanoke Mixed-Use Investment
    Downtown Roanoke Mixed-Use Investment

    135 Salem Ave SW, Roanoke, VA 24011

    $1,595,000

    10-unit property in prime downtown location with income streams.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Central Business Zoned Development Land
    Central Business Zoned Development Land

    107 HOWARD Street, La Plata, MD 20646

    $250,000
    0.23 AC lot

    Central Business zoned parcel with plans for a three-story mixed-use building and 15 parking spaces.

    View details
    Land Near Shepherd University
    Land Near Shepherd University

    8285 MARTINSBURG Pike, Shepherdstown, WV 25443

    $650,000
    3.70 AC lot

    Prime land near Shepherd University with development potential.

    View details
    Asheville Development Opportunity: 5.94 Acres
    Asheville Development Opportunity: 5.94 Acres

    215 N Bear Creek Road, Asheville, NC 28806

    $2,500,000
    5.94 AC lot

    5.94-acre parcel zoned RM6, ideal for multi-family development.

    View details
    Greenville Development Opportunity: 1.33 Acres
    Greenville Development Opportunity: 1.33 Acres

    71 Salters Road, Greenville, SC 29607

    $699,900
    1.33 AC lot

    1.33 acre parcel suitable for multi-family development near downtown.

    View details

    Off-Market Properties in Lynchburg, VA

    Consider similar Off-Market properties in Lynchburg, VA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    2009 Longwood Rd
    APARTMENT HOUSE (5+ UNITS)

    2009 Longwood Rd, Lynchburg, VA 24503-2217

    $785,000
    Estimated value
    7,084 sqft 0.60 AC lot
    View details
    300 Mcconville Rd
    APARTMENT HOUSE (5+ UNITS)

    300 Mcconville Rd, Lynchburg, VA 24502-4560

    $2,100,000
    Estimated value
    22,977 sqft 4.92 AC lot
    View details
    1201 Long Mdws Dr
    APARTMENT HOUSE (5+ UNITS)

    1201 Long Mdws Dr, Lynchburg, VA 24502-5244

    $2,880,000
    Estimated value
    122,960 sqft 10.48 AC lot
    View details
    201 Capital St
    APARTMENT HOUSE (5+ UNITS)

    201 Capital St, Lynchburg, VA 24502

    $13,250,000
    Estimated value
    95,792 sqft 3.28 AC lot
    View details
    3216 Frst Brk Rd
    APARTMENT HOUSE (5+ UNITS)

    3216 Frst Brk Rd, Lynchburg, VA 24501-3011

    $575,000
    Estimated value
    4,174 sqft 0.56 AC lot
    View details
    1016 Church St
    APARTMENT HOUSE (5+ UNITS)

    1016 Church St, Lynchburg, VA 24504-4613

    $850,000
    Estimated value
    10,864 sqft 0.12 AC lot
    View details
    2811 Rivermont Ave
    APARTMENT HOUSE (5+ UNITS)

    2811 Rivermont Ave, Lynchburg, VA 24503-1413

    $800,000
    Estimated value
    11,739 sqft 0.37 AC lot
    View details
    3000 Birchwood Dr
    APARTMENT HOUSE (5+ UNITS)

    3000 Birchwood Dr, Lynchburg, VA 24501-1453

    $4,205,000
    Estimated value
    67,469 sqft 5.68 AC lot
    View details
    4710 Greenwood Dr
    APARTMENT HOUSE (5+ UNITS)

    4710 Greenwood Dr, Lynchburg, VA 24502-1051

    $505,000
    Estimated value
    6,528 sqft 0.55 AC lot
    View details
    620 5th St
    APARTMENT HOUSE (5+ UNITS)

    620 5th St, Lynchburg, VA 24504-2428

    Value Estimation by Request
    3,908 sqft 0.06 AC lot
    View details
    3610 Ft Ave
    APARTMENT HOUSE (5+ UNITS)

    3610 Ft Ave, Lynchburg, VA 24501-3853

    $825,000
    Estimated value
    12,913 sqft 0.66 AC lot
    View details
    177 Princeton Cir
    APARTMENT HOUSE (5+ UNITS)

    177 Princeton Cir, Lynchburg, VA 24503-1458

    $805,000
    Estimated value
    10,609 sqft 0.44 AC lot
    View details
    103 Melinda Dr, Unit 9
    APARTMENT HOUSE (5+ UNITS)

    103 Melinda Dr, Lynchburg, VA 24502-3209

    Unit 9
    $1,120,000
    Estimated value
    5,032 sqft 0.77 AC lot
    View details
    103 Melinda Dr, Unit 1
    APARTMENT HOUSE (5+ UNITS)

    103 Melinda Dr, Lynchburg, VA 24502-3200

    Unit 1
    $1,120,000
    Estimated value
    5,032 sqft 0.82 AC lot
    View details
    216 Warwick Ln
    APARTMENT HOUSE (5+ UNITS)

    216 Warwick Ln, Lynchburg, VA 24503

    $910,000
    Estimated value
    7,987 sqft 0.10 AC lot
    View details
    2665 Rivermont Ave
    APARTMENT HOUSE (5+ UNITS)

    2665 Rivermont Ave, Lynchburg, VA 24503-1552

    $890,000
    Estimated value
    16,346 sqft 0.33 AC lot
    View details
    1211 Fenwick Dr
    APARTMENT HOUSE (5+ UNITS)

    1211 Fenwick Dr, Lynchburg, VA 24502-2139

    $515,000
    Estimated value
    9,672 sqft 0.80 AC lot
    View details
    817 Pierce St
    APARTMENT HOUSE (5+ UNITS)

    817 Pierce St, Lynchburg, VA 24501-1337

    Value Estimation by Request
    5,112 sqft 0.23 AC lot
    View details
    1664 Graves Ml Rd
    APARTMENT HOUSE (5+ UNITS)

    1664 Graves Ml Rd, Lynchburg, VA 24502-4375

    $630,000
    Estimated value
    6,792 sqft 0.70 AC lot
    View details
    2121 Langhorne Rd
    APARTMENT HOUSE (5+ UNITS)

    2121 Langhorne Rd, Lynchburg, VA 24501-1423

    Value Estimation by Request
    10.13 AC lot
    View details

    Lynchburg, VA Apartment Buildings Market Trends and Statistics

    Explore 72 apartment buildings for sale in Lynchburg, VA, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 26,654 square feet of properties for sale, with an estimated market value of $4,497,000.

    Sale prices for two-family homes in Lynchburg, VA start at $899,000, averaging $1,124,250, and reaching up to $1,800,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 103K
    Population Growth (5Y) -3.8%
    Median Household Income $64,253
    College Educated 25.7%

    High-Yield Neighborhoods for Investment

    Identify Lynchburg submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    24502 $1.1M

    Taxes & Financing

    Tax Rate (average for all types) 0.82%
    Property Tax per SF $9.77 per SF
    Tax Rate vs County Average 0.01 pp above county avg
    Average Loan-to-Value 65.0%

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Lynchburg city

    Office

    Property Size Breakdown

    The majority of commercial real estate listings in Lynchburg fall within the 100,000+ square foot range.

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