Updated Separately Metered
For Sale
$279,900
2800 Kulman, Lynchburg, VA 24501
Two refreshed units feature private unfinished basements and separate utility metering for flexible occupancy or leasing.
Property Size1,578 SF
Price / SF$177.38
Days on Market52
Property Features for 2800 Kulman
General Information
Standard status
Active
Size
1,578 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1959
Listing Agency:
Cornerstone Realty Group Inc
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Aug 17
Changed: Oct 6
Last Checked: Oct 5 at 6:06PM
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 Cornerstone Realty Group Inc
Investment Insights
Based on property information with market context.
This 1578 SF duplex contains two updated residential units, each with refreshed kitchens, flooring, and paint. Separate unfinished basements provide individual storage areas and may offer future expansion potential. Separate metering serves each side of the building.
The property is located at 2800 Kulman Pl in Lynchburg, VA, within minutes of the medical corridor, Wards Road, and amenities along 221. The two-unit configuration supports an owner-occupant arrangement or leasing of both sides, subject to the buyer’s intended use.
The property is located at 2800 Kulman Pl in Lynchburg, VA, within minutes of the medical corridor, Wards Road, and amenities along 221. The two-unit configuration supports an owner-occupant arrangement or leasing of both sides, subject to the buyer’s intended use.
Key Highlights
- 1578 SF duplex with two updated units
- Separate utility metering for each side
- Updated kitchens, flooring, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,664
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,280
$273.3K
Cap Rate 7%
$195,200
$195.2K
Cap Rate 9%
$151,822
$151.8K
Market Conditions
NOI Build-Up for 1,578 SF
Gross rent
$21.8K $13.80/SF
− Vacancy
−$2.3K −$1.43/SF
EGI
$19.5K $12.37/SF
− OpEx
−$5.9K −$3.71/SF
NOI
$13.7K $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%
$273,280
Cap Rate 7%
$195,200
Cap Rate 9%
$151,822
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.7K
NOI $13,664 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$179.0K
$156.6K – $208.8K
NOI $12,527 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$467.4K
$409.0K – $545.4K
NOI $32,721 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed units feature private unfinished basements and separate utility metering for flexible occupancy or leasing.
Where is this duplex located?
The property is located at 2800 Kulman Lynchburg, VA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1578 SF duplex with two updated units; Separate utility metering for each side; Updated kitchens, flooring, and paint
