1664 Graves Mill Rd, Lynchburg, VA 24502
Eight residential units generate monthly income with consistent 2-bedroom, 1-bath layouts for tenant-ready living.
- Added:
- Apr 9, 2026
- Days on Market:
- 73
- Last Refresh:
- Jun 8 at 1:54 am
Property Features for 1664 Graves Mill Rd
General Information
- Standard status
- Active
- Size
- 6,792 SF
Listing agent Jim L Rufus
Listing office eXp Realty LLC-Stafford (866) 825-7169
Listing date Apr 9, 2026
Source Exprealty
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 eXp Realty LLC-Stafford
HighLights
- Income‑producing 8‑plex with 8 residential units (16 bedrooms, 8 baths)
- All units have consistent layouts: 2 bedrooms and 1 full bath each
- Monthly income reported as $7,700
- Located on Graves Mill Road in a high‑traffic corridor near established restaurants and businesses
- Property is shown by appointment only; bank letter or proof of funds required
Overview
Located on Graves Mill Road in a high-traffic corridor, the property is described as surrounded by established restaurants, businesses, and everyday conveniences. The remarks also cite convenient access to the expressway, the airport, and local colleges, supporting a tenant base drawn from routine commuting and nearby employment and education.
For investors or owner-operators seeking a residential income property with multiple independent units under one roof, this 8-plex provides a repeatable unit mix across all eight homes. The listing also provides a stated monthly income of $7,700, offering a baseline for underwriting and review. If you are considering a multifamily acquisition in an active commercial area, this structure may align well with buyers looking for a manageable apartment-building format and a straightforward tenant layout profile.
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 | $110.0k | $16.20 |
| − Vacancy | −$12.0k | −$1.77 |
| EGI | $98.0k | $14.43 |
| − OpEx | −$44.1k | −$6.50 |
| NOI | $53.9k | $7.94 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lynchburg
- County
- Lynchburg
- State
- Virginia
- Longitude
- -79.2408627
- Latitude
- 37.3772642
