500 Stafford Street Lynchburg, VA 24501

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.