Multifamily Property with Income
221 Brickyard Dr Dillwyn, VA 23936
For Sale
$4,500,000
Stabilized multifamily asset with income growth and expansion potential.
Days on Market94
Property Features for 221 Brickyard Dr
General Information
Standard status
Active
Property subtype
Investment
Building Details
Year Built
1986
Listing Agency:
Shaheen Ruth Martin & Fonville
(804) 288-2100
Listed By:
Heather Placer Mull
(804) 288-2100
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Jul 29 at 11:58AM
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 Shaheen Ruth Martin & Fonville
Investment Insights
Based on property information with market context.
This multifamily property presents a stabilized investment opportunity with potential for continued income growth. The property has demonstrated strong in-place cash flow, with revenue increasing year over year. The most recent reporting period in 2025 reflected a 22% increase in Net Operating Income (NOI) from year-end 2024, driven by a 30% increase in rents, suggesting further opportunities for rent optimization. Recent renovations and upgrades have created a turnkey asset with operational stability and value-add potential. The property features a mix of 28 two-bedroom, one-bath units and 12 three-bedroom, 1.5-bath units. The three-bedroom units include in-unit washer and dryer hookups, while the two-bedroom units are served by a central laundry facility. Occupancy has remained consistently strong, supported by a tenant waiting list. A preliminary review indicates the potential to add up to eight additional units, although the buyer is responsible for verifying approvals and requirements with the county as part of their due diligence. The property is located in Dillwyn, VA.
Key Highlights
- 22% NOI increase and 30% rent growth in the most recent year (2024‑2025).
- Stabilized property with proven operating performance and strong in‑place cash flow.
- Potential to add up to 8 additional units (buyer to verify with county).
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized multifamily asset with income growth and expansion potential.
Where is this apartment building located?
The property is located at 221 Brickyard Dr Dillwyn, VA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: **22% NOI increase and 30% rent growth** in the most recent year (2024‑2025).; Stabilized property with proven operating performance and strong in‑place cash flow.; Potential to add up to 8 additional units (buyer to verify with county).
