Duplex with Two
For Sale
$169,000
1401 Garfield Avenue, Lynchburg, VA 24501
Multi-Family, Lynchburg, VA
Property Size1,718 SF
Lot Size0.09 Acres
Price / SF$98.37
Days on Market100
Property Features for 1401 Garfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2
Subdivision
Cotton Hill
Elementary school
RS Payne Elem
Middle school
PL Dunbar Midl
High school
E. C. Glass High
Elementary school district
Lynchburg
Middle school district
Lynchburg
High school district
Lynchburg
Directions
12th St. to Garfield Ave. House Is On The Right.
Standard status
Active
APN
02714001
Size
1,718 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
BENTON, PT LOTS 1-2
Legal Description
BENTON, PT LOTS 1-2
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1926
Number of units
2
Listing Agency:
Keller Williams · Keller Williams Realty
(434) 534-9113
Listed By:
Stephen J Acree · License #0225225687
(434) 401-6785
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 31 at 10:06AM
MLS# 368239
Copyright © 2026 Lynchburg Virginia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex contains 1,718 square feet with four bedrooms, two bathrooms, and two kitchen areas. The layout offers a practical configuration for an owner-occupant or separate rental use, while heat-pump systems provide both heating and cooling. The property was built in 1926 and occupies a 0.0933-acre lot.
Located at 1401 Garfield Avenue in Lynchburg, Virginia, the property is positioned within the 24501 postal area. Its residential duplex format and multiple kitchen areas provide flexibility for an owner seeking a residence with rental space or an investor adding a small income property.
Located at 1401 Garfield Avenue in Lynchburg, Virginia, the property is positioned within the 24501 postal area. Its residential duplex format and multiple kitchen areas provide flexibility for an owner seeking a residence with rental space or an investor adding a small income property.
Key Highlights
- 1,718‑square‑foot duplex
- Four bedrooms and two bathrooms
- Two kitchen areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,877
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,540
$297.5K
Cap Rate 7%
$212,529
$212.5K
Cap Rate 9%
$165,300
$165.3K
Market Conditions
NOI Build-Up for 1,718 SF
Gross rent
$23.7K $13.80/SF
− Vacancy
−$2.5K −$1.43/SF
EGI
$21.3K $12.37/SF
− OpEx
−$6.4K −$3.71/SF
NOI
$14.9K $8.66/SF
Area
Lynchburg County, VA
Vacancy
10.36%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,540
Cap Rate 7%
$212,529
Cap Rate 9%
$165,300
Alternative Uses
Best Use
Multifamily LT 5
$212.5K
$186.0K – $248.0K
NOI $14,877 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$194.8K
$170.5K – $227.3K
NOI $13,639 @ 7.0% cap · market cap 8.07%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property includes two kitchen areas and heat-pump heating and cooling.
Where is this duplex 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: 1,718‑square‑foot duplex; Four bedrooms and two bathrooms; Two kitchen areas
