Apartment Building with Historic
New
For Sale
$550,000
765 Water Wheel Road, Galax, VA 24333
Residential Income, Galax, VA
Property Size2,788 SF
Lot Size3.30 Acres
Price / SF$197.27
Days on Market1
Property Features for 765 Water Wheel Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 7, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Window features
Insulated Windows
Interior features
Vaulted Ceiling(s)
Fencing
Fenced
Fireplace
1
Basement
Dirt Floor, Crawl Space
Appliances
Microwave, Refrigerator, Washer, Dryer, Electric Water Heater
Lot features
Stream, Wooded
Elementary school
Fries
Middle school
Grayson County
High school
Grayson County
Directions
From Main St, Galax Turn left onto W Stuart Dr 0.2 mi Turn right onto Fries Rd 1.3 mi Turn left onto Waterwheel Rd 0.8 mi Sharp left Destination will be on the right. 230 ft 765 Waterwheel Rd Galax, VA 24333
Subdivision
Galax
Standard status
Active
Size
2,788 SF
Lot size
3.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
952
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Ductless (Heating)
Cooling system
Ductless, Zoned, Central Air
Water source
Well
Water front features
Stream, Creek
Water front
1
Amenities
laundry area
covered porch
handicap-accessible ramp
Building Details
Year built
2004
Number of units
5
Flooring type
Vinyl, Wood
Building materials
Block, Wood Siding, Dry Wall
Roof type
Shingle
Listing Agency:
BHHS- Mountain Sky Properties, Wytheville
(276) 228-8882
Listed By:
Pamela G Montgomery
(276) 223-8719
Added: Sep 12
Last Checked: Sep 12 at 10:06PM
MLS# 111882
Copyright © 2026 Southwest Virginia Association of Realtors. 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 2,788-square-foot apartment property includes five efficiency apartments, each arranged with one bedroom, one bathroom, a living area, and an eat-in kitchen. Kitchens are equipped with a refrigerator, microwave, hot plate, and sink. Hardwood flooring, mini-split heating and cooling, and a shared laundry area serve the residential units, while one apartment is handicap-accessible. A covered porch with an accessible ramp provides additional common space.
The 3.3-acre property also includes a log cabin that is vacant and offered as-is, along with a log kitchen or shelter and a grist mill. Two streams cross the property, and additional features include a fenced area, well water, septic service, propane, and a shingle roof. The apartment building was constructed in 2004 and has block, wood siding, and drywall construction.
The 3.3-acre property also includes a log cabin that is vacant and offered as-is, along with a log kitchen or shelter and a grist mill. Two streams cross the property, and additional features include a fenced area, well water, septic service, propane, and a shingle roof. The apartment building was constructed in 2004 and has block, wood siding, and drywall construction.
Key Highlights
- Five efficiency apartments, each with 1 bedroom, 1 bath, living area, and eat‑in kitchen
- 2,788 square feet on 3.3 acres
- One handicap‑accessible apartment plus a covered porch with an accessible ramp
Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
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Business Placement
Demographics for 24333, VA
17,309
Population
9,029
Households
1.9
Avg Household Size
46
Median Age
16%
College-Educated
83%
High-School Grad
144.9 sq mi
ZIP Area
119
Density / Sq Mi
$47,539
Median Household Income
$34,297
Median Earnings
$713
Median Rent
$135,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Efficiency apartments with shared laundry, accessible design elements, and separate historic structures on a wooded stream property.
Where is this apartment building located?
The property is located at 765 Water Wheel Road Galax, VA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Five efficiency apartments, each with 1 bedroom, 1 bath, living area, and eat‑in kitchen; 2,788 square feet on 3.3 acres; One handicap‑accessible apartment plus a covered porch with an accessible ramp
