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Lynchburg Triplex Investment Opportunity

500 Stafford Street, Lynchburg, VA 24501

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For Sale

$187,900

MULTI_FAMILY - Lynchburg, VA

Property size:

1,743 SF

Lot size:

0.17 Acres

Price / SF:

$107/SF

HighLights

Excellent investment opportunity with 3 units near the University of Lynchburg.
Potential to convert two 1‑bedroom units into a larger 2‑3 bedroom main level apartment.
New laminate flooring, carpet, and interior paint throughout.
Two‑car carport area under the property.
Full walkout basement with laundry area.
Includes 3 electric boxes and 3 hot water heaters.

We can help!

Listing Contact

Jeff H Barker

For Sale

$187,900

MULTI_FAMILY - Lynchburg, VA

Property size:

1,743 SF

Lot size:

0.17 Acres

Price / SF:

$107/SF

Added:: Apr 17, 2026
Days on Market:: 57
Last Refresh:: Jun 12 at 4:06 am

Property Features for 500 Stafford Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: R-2
Bedrooms: 3
Bathrooms: 3
Rooms: Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2
Parking features: On Street, Off Street, Carport
Standard status: Active
APN: 03107013
Size: 1,743 SF
Lot size: 0.17 Acres

Taxes and HOA fees

Tax Description: WESTOVER HEIGHTS, BLK 44, LOT
Tax Annual Amount: 1252

Utilities

Heating system: Heat Pump (Heating)
Cooling system: Heat Pump

Building Details

Year built: 1929
Number of units: 3

We can help!

Listing Contact

Jeff H Barker

Listing agent Jeff H Barker License #0225112178

Listing office Re/Max 1st Olympic 20395 Timberlake Road, VA

Listing date Apr 17, 2026

MLS# 365913 Listing URL

HighLights

Excellent investment opportunity with 3 units near the University of Lynchburg.
Potential to convert two 1‑bedroom units into a larger 2‑3 bedroom main level apartment.
New laminate flooring, carpet, and interior paint throughout.
Two‑car carport area under the property.
Full walkout basement with laundry area.
Includes 3 electric boxes and 3 hot water heaters.

Overview

This multifamily property in Lynchburg, Virginia, presents an excellent investment opportunity. The property features three units, each with one bedroom. It is located within walking distance of the University of Lynchburg. The first floor contains two one-bedroom apartments with a connecting door, offering the potential to combine them into a larger two or three-bedroom main level apartment while retaining a separate upstairs unit. Recent upgrades include new laminate flooring and carpet throughout, along with fresh interior paint. The property is equipped with three electric boxes and three hot water heaters. The main level has two heat pumps, and the second-floor apartment has a mini-split system. A two-car carport is located under the property. The exterior features aluminum siding. The first-floor apartments include a living room and kitchen with a range, refrigerator, and microwave; one apartment has new butcher block countertops. The second-floor apartment includes a living room, full bath with a new sink and shower stall, and a kitchen. A full walkout basement includes a laundry area. The main house has a shingle roof, while the rear apartment has a rubber roof. Situated on a corner lot of 0.1722 acres, the property includes a covered front porch and a large concrete patio at the rear entry. The seller previously paid for water, which averaged $90 per month, plus grass cutting. The property was last rented in late 2024 for a total of $1535. The property is zoned R-2.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$24.1k	$13.80
− Vacancy	−$2.5k	−$1.43
EGI	$21.6k	$12.37
− OpEx	−$6.5k	−$3.71
NOI	$15.1k	$8.66

1,743 SF · lease $13.80/SF/yr · vacancy 10.36% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$215.6K

$188.7K – $251.6K (±1% cap)

NOI $15,093 @ 7.0% cap · market cap 8.03%

Second Best

Apartment 5plus

$197.7K

$173.0K – $230.6K (±1% cap)

NOI $13,837 @ 7.0% cap · market cap 7.36%

Theoretical Best

Office A

$516.3K

$451.8K – $602.4K (±1% cap)

NOI $36,143 @ 7.0% cap · market cap 19.24%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Lynchburg
County: Lynchburg
State: Virginia
Longitude: -79.183241
Latitude: 37.394267

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For sale
Triplexes
VA
Lynchburg
24501
500 Stafford Street

What type of property is this?

Triplex - Three units near University of Lynchburg, excellent investment potential.

Where is this triplex located?

The property is located at 500 Stafford Street Lynchburg, VA.

What is the asking price?

The asking price for this property is $187,900.

What are key features of this property?

This property features: Excellent investment opportunity with 3 units near the University of Lynchburg.; Potential to convert two 1‑bedroom units into a larger 2‑3 bedroom main level apartment.; New laminate flooring, carpet, and interior paint throughout.

500 Stafford Street, Lynchburg, VA 24501

MULTI_FAMILY - Lynchburg, VA

Property Features for 500 Stafford Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

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Lynchburg Commercial Building with Fenced Yard

Redeveloped Office Building on Fort

Lynchburg Commercial Property For Sale

Historic Beaux Arts Mixed-Use Property

Commercial Building on Timberlake Road

Historic Inn with Event Space

Lynchburg Multifamily Investment Opportunity

Lynchburg Multifamily Investment Opportunity

Multi-Room Office/Retail Building

Versatile Lynchburg Office Space

Commercial Property in High-Traffic Area

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