Seven-Bedroom
For Sale
$349,900
1609 Rivermont Avenue, Lynchburg, VA 24503
Multi-Family, Lynchburg, VA
Property Size3,267 SF
Lot Size0.18 Acres
Price / SF$107.10
Days on Market56
Property Features for 1609 Rivermont Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bedroom 7, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Subdivision
Middle Rivermont
Elementary school
Bedford Hills Elem
Middle school
Linkhorne Midl
High school
E. C. Glass High
Elementary school district
Lynchburg
Middle school district
Lynchburg
High school district
Lynchburg
Directions
Take Rivermont Ave to 1609.
Standard status
Active
APN
02114001
Size
3,267 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
DANIELSVILLE, BLK 47 OR 61
Legal Description
DANIELSVILLE, BLK 47 OR 61
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1912
Number of units
2
Listing Agency:
Keller Williams · Keller Williams Realty
(434) 534-9113
Listed By:
Noah Kessler · License #0225251355
(434) 401-6785
Added: Aug 13
Changed: Sep 13
Last Checked: Oct 7 at 9:06AM
MLS# 368610
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.
Investment Insights
Based on property information with market context.
This duplex contains 3,267 square feet across two residential units, with seven bedrooms and four bathrooms in total. Built in 1912, the property combines a multi-unit layout with substantial living area, while heat pump systems provide both heating and cooling. The 0.1847-acre parcel is located at 1609 Rivermont Avenue in Lynchburg, Virginia.
The property is positioned along Rivermont Avenue with access to Downtown Lynchburg, Randolph College, restaurants, shopping, and parks. Its two-unit configuration supports a range of residential ownership and occupancy approaches, including the possibility of using one unit while maintaining additional residential space.
The property is positioned along Rivermont Avenue with access to Downtown Lynchburg, Randolph College, restaurants, shopping, and parks. Its two-unit configuration supports a range of residential ownership and occupancy approaches, including the possibility of using one unit while maintaining additional residential space.
Key Highlights
- Duplex with 3,267 square feet of total property size
- Seven bedrooms and four bathrooms across two residential units
- Built in 1912 on a 0.1847‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,290
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,800
$565.8K
Cap Rate 7%
$404,143
$404.1K
Cap Rate 9%
$314,333
$314.3K
Market Conditions
NOI Build-Up for 3,267 SF
Gross rent
$45.1K $13.80/SF
− Vacancy
−$4.7K −$1.43/SF
EGI
$40.4K $12.37/SF
− OpEx
−$12.1K −$3.71/SF
NOI
$28.3K $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%
$565,800
Cap Rate 7%
$404,143
Cap Rate 9%
$314,333
Alternative Uses
Best Use
Multifamily LT 5
$404.1K
$353.6K – $471.5K
NOI $28,290 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$370.5K
$324.2K – $432.3K
NOI $25,936 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$967.8K
$846.8K – $1.13M
NOI $67,745 @ 7.0% cap · market cap 19.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 24503, VA
19,810
Population
8,755
Households
2.3
Avg Household Size
44
Median Age
59%
College-Educated
96%
High-School Grad
36.7 sq mi
ZIP Area
540
Density / Sq Mi
$92,025
Median Household Income
$46,521
Median Earnings
$972
Median Rent
$320,500
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide flexible living arrangements with heat pump heating and cooling throughout.
Where is this duplex located?
The property is located at 1609 Rivermont Avenue Lynchburg, VA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Duplex with 3,267 square feet of total property size; Seven bedrooms and four bathrooms across two residential units; Built in 1912 on a 0.1847‑acre parcel
