Two-Building Apartment
1200 Liggates Road Lynchburg, VA 24502
1200 Liggates Road, Lynchburg, VA, 24502
$1,100,000
For Sale
$1,100,000
Brick two-story walk-up multifamily with a basement and shared coin-operated laundry, totaling 12 units across two buildings.
Property Size10,692 SF
Price / SF$102.88
Days on Market267
Property Features for 1200 Liggates Road
General Information
- Standard status
- Active
- Size
- 10,692 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1962
Listing agency
Mark A. Dalton & Co., Inc.
(434) 610-8089
Listed by
Callie Reyes · License #0225273134
(434) 610-8089
Source
Compass
Added: Oct 29, 2025 Updated: Jul 21 at 12:16PM Checked: Jul 22 at 9:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mark A. Dalton & Co., Inc.
Investment Insights
Based on property information with market context.
This well-maintained, brick two-story walk-up multifamily property includes a basement and consists of two buildings with 12 residential units total. The buildings feature shared common areas that have been renovated (2025) and shared laundry located in the basement that is coin operated. Recent updates reported for the property include new windows, new heat pumps, and a new roof, with about 75% of units renovated since 2023, including updated flooring, paint, and cabinets and counters as needed.
The property is located at 1200 Liggates Road in Lynchburg, VA and offers ample parking. It is described as centrally located with proximity to Liberty University and local restaurants, shopping, and amenities.
With full occupancy reported and positive cash flow, this residential income property presents an income-producing configuration with multiple unit renovations and updated building components.
The property is located at 1200 Liggates Road in Lynchburg, VA and offers ample parking. It is described as centrally located with proximity to Liberty University and local restaurants, shopping, and amenities.
With full occupancy reported and positive cash flow, this residential income property presents an income-producing configuration with multiple unit renovations and updated building components.
Key Highlights
- Brick, two‑story walk‑up multifamily built in 1962 with a basement, comprising 12 residential units across two buildings.
- Recent renovations since 2023: 75% of units updated with flooring, paint, cabinets and counters as needed, plus new windows.
- System and exterior upgrades include new heat pumps and a new roof, and shared common areas renovated in 2025.
Local Financial Insights For Apartment 5plus
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 | $173.2k | $16.20 |
| − Vacancy | −$18.9k | −$1.77 |
| EGI | $154.3k | $14.43 |
| − OpEx | −$69.4k | −$6.50 |
| NOI | $84.9k | $7.94 |
10,692 SF · lease $16.20/SF/yr · vacancy 10.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,882 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,709 @ 7.0% cap · market cap 20.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Brick two-story walk-up multifamily with a basement and shared coin-operated laundry, totaling 12 units across two buildings.
Where is this apartment building located?
The property is located at 1200 Liggates Road Lynchburg, VA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Brick, two‑story walk‑up multifamily built in 1962 with a basement, comprising 12 residential units across two buildings.; Recent renovations since 2023: 75% of units updated with flooring, paint, cabinets and counters as needed, plus new windows.; System and exterior upgrades include new heat pumps and a new roof, and shared common areas renovated in 2025.
