Multifamily
For Sale
$259,900
Pending
820 Rivermont Avenue, Lynchburg, VA 24504
Constructed in 1905 and located on Rivermont Avenue in Lynchburg.
Property Size2,199 SF
Days on Market75
Property Features for 820 Rivermont Avenue
General Information
Standard status
Pending
Size
2,199 SF
Property subtype
Multi-Family
Building Details
Year Built
1905
Listing Agency:
Keller Williams
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Aug 8
Changed: Oct 16
Last Checked: Oct 20 at 8:00PM
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 Keller Williams
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Investment Insights
Based on property information with market context.
This multifamily property is located at 820 Rivermont Avenue in Lynchburg, Virginia. The building dates to 1905 and is identified as an other multifamily property within the residential income category.
Key Highlights
- Building constructed in 1905
- Located at 820 Rivermont Avenue, Lynchburg, VA 24504
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,457
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,140
$349.1K
Cap Rate 7%
$249,386
$249.4K
Cap Rate 9%
$193,967
$194.0K
Market Conditions
NOI Build-Up for 2,199 SF
Gross rent
$35.6K $16.20/SF
− Vacancy
−$3.9K −$1.77/SF
EGI
$31.7K $14.43/SF
− OpEx
−$14.3K −$6.50/SF
NOI
$17.5K $7.94/SF
Area
Lynchburg County, VA
Vacancy
10.90%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,140
Cap Rate 7%
$249,386
Cap Rate 9%
$193,967
Alternative Uses
Best Use
Apartment 5plus
$249.4K
$218.2K – $291.0K
NOI $17,457 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$651.4K
$570.0K – $760.0K
NOI $45,598 @ 7.0% cap · market cap 17.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Explore this area
Business Placement
Demographics for 24504, VA
9,585
Population
5,206
Households
1.8
Avg Household Size
37
Median Age
24%
College-Educated
88%
High-School Grad
37.5 sq mi
ZIP Area
256
Density / Sq Mi
$50,739
Median Household Income
$34,265
Median Earnings
$998
Median Rent
$183,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Constructed in 1905 and located on Rivermont Avenue in Lynchburg.
Where is this multifamily property located?
The property is located at 820 Rivermont Avenue Lynchburg, VA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Building constructed in 1905; Located at 820 Rivermont Avenue, Lynchburg, VA 24504
