Historic Duplex in Garland
405 Harrison Street Lynchburg, VA 24504
405 Harrison Street, Lynchburg, VA, 24504
$339,900
Pending
For Sale
$339,900
Pending
MULTI_FAMILY - Lynchburg, VA
Property Size3,205 SF
Lot Size0.14 Acres
Days on Market109
Property Features for 405 Harrison Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bedroom 5, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 5, Bathroom 3, Bedroom 6, Bathroom 1, Bathroom 4, Bathroom 2
- Parking features
- On Street
- Standard status
- Pending
- APN
- 02410009
- Size
- 3,205 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- GARLAND HILL, BLK 411
- Tax Annual Amount
- 1147
Utilities
- Heating system
- Heat Pump (Heating)
- Cooling system
- Heat Pump
Building Details
- Year built
- 1885
- Number of units
- 2
Listing Agency
John Stewart Walker, Inc
(434) 385-6655
18013 Forest Road STE E08, Lynchburg, VA
Listed by
Victoria E Bartholomew · License #0225211862
(434) 385-6655
Added: Apr 1 Checked: Jul 18 at 6:06 am
MLS# 365483
Listing URL
Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in the Garland Hill Historic District, this historic duplex, constructed in 1885, presents an opportunity for owner-occupancy with rental income or as a tenant-ready investment property in Downtown Lynchburg. The property features restored original details, including refinished heart pine floors, arched doorways, and high ceilings, combined with modern updates. These updates include updated electrical systems, heat pumps, new hot water heaters, modern kitchens equipped with granite counters and stainless steel appliances, and in-unit laundry facilities. The property has a new standing seam metal roof. Each unit is over 1000 square feet. The first-floor unit includes 3 bedrooms and 2 full baths, while the upstairs unit offers 3 bedrooms and 3 full baths. Each unit features its own expansive primary suite with a tub and walk-in shower. The first-floor unit provides access to a large back porch. The backyard includes a garage space suitable for storage. The property benefits from reduced taxes through the city rehab program until June 20, 2034. The lot size is 0.1364 acres. The property size is 3205 square feet.
Key Highlights
- Built in 1885 duplex in Garland Hill Historic District with original restored features like refinished heart pine floors, arched doorways, and high ceilings
- Two units, each over 1,000 SF—first floor has 3 bedrooms and 2 full baths; upstairs has 3 bedrooms and 3 full baths
- Each unit includes an expansive primary suite with tub and walk‑in shower
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.2k | $13.80 |
| − Vacancy | −$4.6k | −$1.43 |
| EGI | $39.6k | $12.37 |
| − OpEx | −$11.9k | −$3.71 |
| NOI | $27.8k | $8.66 |
3,205 SF · lease $13.80/SF/yr · vacancy 10.36% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$396.5K
$346.9K – $462.6K
NOI $27,753 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$363.5K
$318.1K – $424.1K
NOI $25,444 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$949.4K
$830.7K – $1.11M
NOI $66,459 @ 7.0% cap · market cap 19.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Restored 1885 duplex with modern updates and income potential.
Where is this duplex located?
The property is located at 405 Harrison Street Lynchburg, VA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Built in 1885 duplex in Garland Hill Historic District with original restored features like refinished heart pine floors, arched doorways, and high ceilings; Two units, each over 1,000 SF—first floor has 3 bedrooms and 2 full baths; upstairs has 3 bedrooms and 3 full baths; Each unit includes an expansive primary suite with tub and walk‑in shower
