Three-Unit Apartment Building Near
405 Langhorne Lane Lynchburg, VA 24501
For Sale
$325,000
Three-unit apartment building near University of Lynchburg, great investment opportunity.
Property Size2,596 SF
Price / SF$125.19
Days on Market72
Property Features for 405 Langhorne Lane
General Information
Standard status
Active
Size
2,596 SF
Property subtype
Multi-Family / Multi-Family
Building Details
Year Built
1918
Listing Agency:
Epique Inc
(434) 420-4240
Listed By:
Susan Murray · License #0225212736
(434) 420-4240
Source:
Compass
Added: May 19
Changed: Jul 10
Last Checked: Jul 29 at 12:35PM
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 Epique Inc
Investment Insights
Based on property information with market context.
This full-of-character, three-unit apartment building is located near the University of Lynchburg. The main floor apartment is accessed via bluestone steps leading to a 24-foot front porch. Apartment A, located downstairs, features 1298 square feet, a large living room, two storage closets, two bedrooms, and a decorative flex room. French doors separate the kitchen and hall. Apartment B, accessible from the side, includes a large living room, one bedroom with wood floors, two large closets, a kitchen, and a bathroom. Apartment C has a living room, one large bedroom with a large closet, and a kitchen with two windows and ample storage. Each unit is equipped with its own Trane heat pump, electric panel, and bathtub/shower. The shingle roof is two years old, and a new sewer line has been installed from the street. The plumbing is mostly original, and knob and tube wiring is active in the attic. The owner is responsible for water. A washer and dryer on the back porch can be shared by all units or reserved for Apartment A, potentially generating extra income through coin operation. This property presents a great opportunity for investors or homeowners, as rental income can help offset mortgage payments. The seller is offering a $5000 credit towards closing costs.
Key Highlights
- Three separate apartment units offer income potential.
- Each unit has its own Trane heat pump and electric panel.
- New sewer line from the street.
Financial Insights For Multifamily LT 5
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 | $35.8k | $13.80 |
| − Vacancy | −$3.7k | −$1.43 |
| EGI | $32.1k | $12.37 |
| − OpEx | −$9.6k | −$3.71 |
| NOI | $22.5k | $8.66 |
2,596 SF · lease $13.80/SF/yr · vacancy 10.36% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$321.1K
$281.0K – $374.7K
NOI $22,479 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$294.4K
$257.6K – $343.5K
NOI $20,609 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$769.0K
$672.9K – $897.2K
NOI $53,831 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit apartment building near University of Lynchburg, great investment opportunity.
Where is this triplex located?
The property is located at 405 Langhorne Lane Lynchburg, VA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three separate apartment units offer income potential.; Each unit has its own Trane heat pump and electric panel.; New sewer line from the street.
