Triplex with Corner Lot
For Sale
$187,900
500 Stafford Street, Lynchburg, VA 24501
MULTI_FAMILY - Lynchburg, VA
Property Size1,743 SF
Lot Size0.17 Acres
Price / SF$107.80
Days on Market111
Property Features for 500 Stafford Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3
Parking features
On Street, Carport, Off Street
Subdivision
Newberne
Elementary school
Perrymont Elem
Middle school
PL Dunbar Midl
High school
E. C. Glass High
Elementary school district
Lynchburg
Middle school district
Lynchburg
High school district
Lynchburg
Directions
Fort Avenue to Perrymont Avenue to end. Right on Greenwood to right on Newland to home on corner of Newland and Stafford Street.
Standard status
Active
APN
03107013
Size
1,743 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
WESTOVER HEIGHTS, BLK 44, LOT
Tax Annual Amount
1252
Legal Description
WESTOVER HEIGHTS, BLK 44, LOT
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
covered front porch
concrete patio
laundry area
Building Details
Year built
1929
Number of units
3
Listing Agency:
Re/Max 1st Olympic · RE/MAX International
(434) 832-1100
Listed By:
Jeff H Barker · License #0225112178
(434) 841-7537
Added: Apr 17
Changed: Aug 2
Last Checked: Aug 5 at 4:06PM
MLS# 365913
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 triplex offers three one-bedroom units totaling 1,743 SF on a 0.1722-acre corner lot, built in 1929. The first floor includes two one-bedroom apartments, and there is a door between them that could be opened to create a larger two- or three-bedroom main-level layout while keeping an upstairs unit. The second floor has a one-bedroom apartment. A full walkout basement provides a laundry area.
Recent updates include new laminate flooring and carpet, new interior paint, 3 electric boxes, 3 hot water heaters, 2 heat pumps on the main level, and a mini split on the second floor apartment. Exterior features include aluminum siding, a shingle roof on the main house, and a rubber roof over the rear apartment. Parking includes a two-car carport area under the property, along with on-street and off-street options.
Additional exterior improvements include a covered front porch and a large concrete patio at the rear entry.
Recent updates include new laminate flooring and carpet, new interior paint, 3 electric boxes, 3 hot water heaters, 2 heat pumps on the main level, and a mini split on the second floor apartment. Exterior features include aluminum siding, a shingle roof on the main house, and a rubber roof over the rear apartment. Parking includes a two-car carport area under the property, along with on-street and off-street options.
Additional exterior improvements include a covered front porch and a large concrete patio at the rear entry.
Key Highlights
- 0.1722‑acre corner lot with 1,743 SF triplex built in 1929
- Three one‑bedroom units, with a door between two first‑floor apartments for flexible layout
- Full walkout basement with laundry area
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 | $24.1k | $13.80 |
| − Vacancy | −$2.5k | −$1.43 |
| EGI | $21.6k | $12.37 |
| − OpEx | −$6.5k | −$3.71 |
| NOI | $15.1k | $8.66 |
1,743 SF · lease $13.80/SF/yr · vacancy 10.36% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$215.6K
$188.7K – $251.6K
NOI $15,093 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$197.7K
$173.0K – $230.6K
NOI $13,837 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$516.3K
$451.8K – $602.4K
NOI $36,143 @ 7.0% cap · market cap 19.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
232
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex in R-2 zoning on a corner lot with three one-bedroom units, walkout basement, and carport parking.
Where is this triplex located?
The property is located at 500 Stafford Street Lynchburg, VA.
What is the asking price?
The asking price for this property is $187,900.
What are key features of this property?
This property features: 0.1722‑acre corner lot with 1,743 SF triplex built in 1929; Three one‑bedroom units, with a door between two first‑floor apartments for flexible layout; Full walkout basement with laundry area
