Building Details

Year built 1971

Floors in Building 1

Listing Agency: EDD MARTIN AND ASSOCIATES e***@centurylink.net Show Phone

Listed By: Edd Martin Show Phone

Added: Jul 16, 2024 Changed: Sep 5 Last Checked: Sep 13 at 5:06AM

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MLS# 141773

Copyright © 2026 Martinsville, Henry, Patrick Counties Association of Realtors. 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.

This multifamily property comprises three brick ranch homes and 16 duplex buildings, creating a broad residential configuration within one community. Each residence includes a range, refrigerator, washer, and dryer. The ranch homes offer three bedrooms apiece, while the duplex inventory includes four three-bedroom units, eleven two-bedroom units, and one one-bedroom unit.

Built in 1971, the property covers over 16 acres in Ararat, Patrick County, Virginia. All units received new roofs and gutters in 2020, and several heat pumps were also updated. Blue Ridge Elementary School and Dan River Park are within walking distance, while the City of Mt. Airy, North Carolina, is minutes away.

Key Highlights

• Three brick ranch homes plus 16 duplex buildings
• Unit mix includes four three‑bedroom, eleven two‑bedroom, and one one‑bedroom duplex units
• All units received new roofs and gutters in 2020

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Auto Repair Shop Garden Center (Bike/Boat/Book/etc) Store Computer & Electronic Repair Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 24053, VA

2,356

Population

1,266

Households

1.9

Avg Household Size

48

Median Age

11%

College-Educated

84%

High-School Grad

50.1 sq mi

ZIP Area

47

Density / Sq Mi

$52,173

Median Household Income

$36,295

Median Earnings

$890

Median Rent

$159,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Apartment building - Multifamily community with brick ranch residences and furnished duplex units, updated roofing, gutters, and select heat pumps.

Where is this apartment building located?

The property is located at 81-302 Duplex Lane Ararat, VA.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: Three brick ranch homes plus 16 duplex buildings; Unit mix includes four three‑bedroom, eleven two‑bedroom, and one one‑bedroom duplex units; All units received new roofs and gutters in 2020