Fully Furnished
For Sale
$347,900
Pending
416 Belvedere Street, Lynchburg, VA 24503
MULTI_FAMILY - Lynchburg, VA
Property Size1,912 SF
Lot Size0.23 Acres
Days on Market51
Property Features for 416 Belvedere Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1
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 to Belvedere.
Standard status
Pending
APN
01918061
Size
1,912 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
COLLEGE PARK, BLK C, LOT 12-13
Legal Description
COLLEGE PARK, BLK C, LOT 12-13
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1959
Number of units
2
Listing Agency:
eXp Realty LLC-Stafford
(866) 825-7169
Listed By:
Jimmy L Rufus Jr. · License #0225183489
(866) 825-7169
Added: Jun 16
Changed: Aug 3
Last Checked: Aug 5 at 6:06PM
MLS# 367266
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.
Investment Insights
Based on property information with market context.
This fully furnished duplex features two updated units designed as a true duplex, with separate utilities, in-unit laundry, and individual heat pumps. The property totals 1,912 SF on a 0.2287-acre lot and was built in 1959.
Unit configuration is split between an upper level with 3 bedrooms and 1 full bath, and a lower level with 2 bedrooms and 1 full bath. Updates include fresh paint, modern lighting, updated appliances, ring cameras, and a reglazed bath. Heating and cooling are provided by heat pumps.
Located at 416 Belvedere Street in Lynchburg, VA 24503, the property is near the hospital and has historically attracted travel nurse tenants through short- and mid-term stays. A modern interior presentation and careful maintenance support flexible use for residents seeking fully furnished accommodations.
Unit configuration is split between an upper level with 3 bedrooms and 1 full bath, and a lower level with 2 bedrooms and 1 full bath. Updates include fresh paint, modern lighting, updated appliances, ring cameras, and a reglazed bath. Heating and cooling are provided by heat pumps.
Located at 416 Belvedere Street in Lynchburg, VA 24503, the property is near the hospital and has historically attracted travel nurse tenants through short- and mid-term stays. A modern interior presentation and careful maintenance support flexible use for residents seeking fully furnished accommodations.
Key Highlights
- Fully furnished duplex with two units designed as a true duplex
- Separate utilities, each unit has its own laundry and individual heat pumps
- Upper unit: 3 bedrooms and 1 full bath
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 | $26.4k | $13.80 |
| − Vacancy | −$2.7k | −$1.43 |
| EGI | $23.7k | $12.37 |
| − OpEx | −$7.1k | −$3.71 |
| NOI | $16.6k | $8.66 |
1,912 SF · lease $13.80/SF/yr · vacancy 10.36% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$236.5K
$207.0K – $275.9K
NOI $16,556 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$216.8K
$189.7K – $253.0K
NOI $15,179 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$566.4K
$495.6K – $660.8K
NOI $39,647 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
386
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-3 zoned duplex on a small lot with separate utilities, in-unit laundry, and individual heat pumps for each unit.
Where is this duplex located?
The property is located at 416 Belvedere Street Lynchburg, VA.
What is the asking price?
The asking price for this property is $347,900.
What are key features of this property?
This property features: Fully furnished duplex with two units designed as a true duplex; Separate utilities, each unit has its own laundry and individual heat pumps; Upper unit: 3 bedrooms and 1 full bath
