Multifamily
For Sale
$299,900
Pending
127 Richeson Drive, Lynchburg, VA 24501
Multifamily property constructed in 1970.
Property Size1,868 SF
Days on Market57
Property Features for 127 Richeson Drive
General Information
Standard status
Pending
Size
1,868 SF
Property subtype
Multi-Family
Building Details
Year Built
1970
Listing Agency:
Mark A. Dalton & Co., Inc
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Sep 6
Changed: Oct 31
Last Checked: Oct 30 at 2:23PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is located at 127 Richeson Drive in Lynchburg, Virginia. The building was constructed in 1970 and is identified as a multifamily asset.
Key Highlights
- Multifamily property at 127 Richeson Drive, Lynchburg, VA 24501
- Constructed in 1970
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,830
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,600
$296.6K
Cap Rate 7%
$211,857
$211.9K
Cap Rate 9%
$164,778
$164.8K
Market Conditions
NOI Build-Up for 1,868 SF
Gross rent
$30.3K $16.20/SF
− Vacancy
−$3.3K −$1.77/SF
EGI
$27.0K $14.43/SF
− OpEx
−$12.1K −$6.50/SF
NOI
$14.8K $7.94/SF
Area
Lynchburg County, VA
Vacancy
10.90%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,600
Cap Rate 7%
$211,857
Cap Rate 9%
$164,778
Alternative Uses
Best Use
Apartment 5plus
$211.9K
$185.4K – $247.2K
NOI $14,830 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$553.4K
$484.2K – $645.6K
NOI $38,735 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
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Business Placement
Demographics for 24501, VA
27,160
Population
12,157
Households
2.2
Avg Household Size
33
Median Age
25%
College-Educated
87%
High-School Grad
36.3 sq mi
ZIP Area
748
Density / Sq Mi
$45,305
Median Household Income
$28,790
Median Earnings
$936
Median Rent
$155,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property constructed in 1970.
Where is this multifamily property located?
The property is located at 127 Richeson Drive Lynchburg, VA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Multifamily property at 127 Richeson Drive, Lynchburg, VA 24501; Constructed in 1970
