Multifamily
For Sale
$169,000
1401 Garfield Avenue, Lynchburg, VA 24501
Multifamily property constructed in 1926.
Property Size1,718 SF
Price / SF$98.37
Days on Market85
Property Features for 1401 Garfield Avenue
General Information
Standard status
Active
Size
1,718 SF
Property subtype
Multi-Family
Building Details
Year Built
1926
Listing Agency:
Keller Williams
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Jul 28
Changed: Oct 16
Last Checked: Oct 19 at 6:26AM
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 Keller Williams
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Investment Insights
Based on property information with market context.
This multifamily property at 1401 Garfield Avenue in Lynchburg, Virginia, was constructed in 1926. The property information identifies a total size of 1,718, with no unit count or additional building details provided.
Key Highlights
- Located at 1401 Garfield Avenue, Lynchburg, VA 24501
- Constructed in 1926
- Property size listed as 1,718
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,639
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,780
$272.8K
Cap Rate 7%
$194,843
$194.8K
Cap Rate 9%
$151,544
$151.5K
Market Conditions
NOI Build-Up for 1,718 SF
Gross rent
$27.8K $16.20/SF
− Vacancy
−$3.0K −$1.77/SF
EGI
$24.8K $14.43/SF
− OpEx
−$11.2K −$6.50/SF
NOI
$13.6K $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%
$272,780
Cap Rate 7%
$194,843
Cap Rate 9%
$151,544
Alternative Uses
Best Use
Apartment 5plus
$194.8K
$170.5K – $227.3K
NOI $13,639 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$508.9K
$445.3K – $593.7K
NOI $35,624 @ 7.0% cap · market cap 21.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
578
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
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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 1926.
Where is this multifamily property located?
The property is located at 1401 Garfield Avenue Lynchburg, VA.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Located at 1401 Garfield Avenue, Lynchburg, VA 24501; Constructed in 1926; Property size listed as 1,718
