Duplex with Separate Utility
New
For Sale
$299,900
319 Warwick Lane, Lynchburg, VA 24503
Multi-Family, Lynchburg, VA
Property Size1,983 SF
Lot Size0.28 Acres
Price / SF$151.24
Days on Market2
Property Features for 319 Warwick Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 5
Parking features
Off Street
Subdivision
Randolph College Area
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
Rivermont Ave to Warwick Lane. Follow Warwick Lane to the end. Home is on the right. Look for sign.
Standard status
Active
APN
01912029
Size
1,983 SF
Lot size
0.28 Acres
Additional Details
Individually Metered Utilities
electric, water, gas
Taxes and HOA fees
Tax Description
WARWICK ADD, BLK D, LOTS 32-33
Tax Annual Amount
2067
Legal Description
WARWICK ADD, BLK D, LOTS 32-33
Utilities
Heating system
Heat Pump (Heating), Baseboard, Electric (Heating)
Cooling system
Heat Pump, Zoned
Building Details
Year built
1952
Number of units
2
Buildings
1
Listing Agency:
Mark A. Dalton & Co., Inc.
(434) 841-8405
Listed By:
Matt G Durand · License #0225204692
(434) 237-6267
Added: Oct 30
Last Checked: Oct 31 at 10:06AM
MLS# 370134
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 1,983-square-foot duplex, built in 1952, contains two apartments on a 0.284-acre lot. The upper residence has three bedrooms and one bathroom; the lower unit has two bedrooms and one bathroom, along with its own kitchen, laundry, and living area. The lower apartment is furnished. The property was renovated in 2022, with later improvements including LVP flooring downstairs and gas water heaters.
The home sits at the end of a cul-de-sac with sidewalks and no through traffic. Randolph College is within walking distance. Off-street parking is available.
The home sits at the end of a cul-de-sac with sidewalks and no through traffic. Randolph College is within walking distance. Off-street parking is available.
Key Highlights
- Two apartments: upper unit has 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom
- Separate electric, water, and gas meters for each apartment
- 1,983 square feet on a 0.284‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,171
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,420
$343.4K
Cap Rate 7%
$245,300
$245.3K
Cap Rate 9%
$190,789
$190.8K
Market Conditions
NOI Build-Up for 1,983 SF
Gross rent
$27.4K $13.80/SF
− Vacancy
−$2.8K −$1.43/SF
EGI
$24.5K $12.37/SF
− OpEx
−$7.4K −$3.71/SF
NOI
$17.2K $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%
$343,420
Cap Rate 7%
$245,300
Cap Rate 9%
$190,789
Alternative Uses
Best Use
Multifamily LT 5
$245.3K
$214.6K – $286.2K
NOI $17,171 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$224.9K
$196.8K – $262.4K
NOI $15,743 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$587.4K
$514.0K – $685.3K
NOI $41,119 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
387
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments have independent electric, water, and gas meters.
Where is this duplex located?
The property is located at 319 Warwick Lane Lynchburg, VA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two apartments: upper unit has 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom; Separate electric, water, and gas meters for each apartment; 1,983 square feet on a 0.284‑acre lot
