Five-Plex with Front
507 Madison Street Lynchburg, VA 24504
New
For Sale
$395,000
MULTI_FAMILY - Lynchburg, VA
Property Size4,333 SF
Lot Size0.19 Acres
Price / SF$91.16
Days on Market2
Property Features for 507 Madison Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bedroom 4, Bathroom 4, Bathroom 5, Bedroom 6, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1
- Standard status
- Active
- APN
- 02422007
- Size
- 4,333 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Description
- FEDERAL HILL BLK. 209
Utilities
- Heating system
- Heat Pump (Heating), Space Heater
- Cooling system
- Heat Pump, Window Unit(s)
Building Details
- Year built
- 1913
Listing Agency:
Keller Williams
(434) 534-9113
Listed By:
Stephen J Acree · License #0225225687
(434) 401-6785
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 25 at 2:06PM
MLS# 368238
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 five-plex apartment building offers classic two-story character with an open front porch. The property provides over 4,000 finished square feet of residential income space and is described as low-maintenance, with strong existing income in place.
Located at 507 Madison Street in Lynchburg, Virginia 24504, the building is positioned as a stabilized, income-filled investment opportunity.
With its compact lot size of 0.1854 acres and current configuration as a 5-plex, the property presents an income-producing option for buyers seeking a multi-unit building with an established operating base.
Located at 507 Madison Street in Lynchburg, Virginia 24504, the building is positioned as a stabilized, income-filled investment opportunity.
With its compact lot size of 0.1854 acres and current configuration as a 5-plex, the property presents an income-producing option for buyers seeking a multi-unit building with an established operating base.
Key Highlights
- 5‑plex with 4,000+ finished sq ft across 2 stories
- Built in 1913 with classic architectural character, plus an open front porch
- Heating includes heat pump (heating) and space heater
Financial Insights For Apartment 5plus
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 | $70.2k | $16.20 |
| − Vacancy | −$7.7k | −$1.77 |
| EGI | $62.5k | $14.43 |
| − OpEx | −$28.1k | −$6.50 |
| NOI | $34.4k | $7.94 |
4,333 SF · lease $16.20/SF/yr · vacancy 10.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$491.4K
$430.0K – $573.3K
NOI $34,399 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,849 @ 7.0% cap · market cap 22.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Two-story five-plex with an open front porch, offering over 4,000 finished square feet of residential income space.
Where is this apartment building located?
The property is located at 507 Madison Street Lynchburg, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 5‑plex with 4,000+ finished sq ft across 2 stories; Built in 1913 with classic architectural character, plus an open front porch; Heating includes heat pump (heating) and space heater
