Multifamily
For Sale
$179,900
840 Old Forest Road, Lynchburg, VA 24501
Multifamily property with an established construction date and residential income use.
Property Size1,180 SF
Price / SF$152.46
Days on Market28
Property Features for 840 Old Forest Road
General Information
Standard status
Active
Size
1,180 SF
Property subtype
Multi-Family
Building Details
Year Built
1962
Listing Agency:
Cornerstone Realty Group Inc
Listed By:
Karl Miller Realty
(434) 239-2394
Source:
Karlmillerrealty
Added: Sep 9
Changed: Oct 6
Last Checked: Oct 5 at 6:55PM
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 Cornerstone Realty Group Inc
Investment Insights
Based on property information with market context.
This multifamily property at 840 Old Forest Road in Lynchburg, Virginia, was built in 1962. The property is identified for sale as a multifamily asset and is classified within the residential income property category.
Key Highlights
- Built in 1962 at 840 Old Forest Road, Lynchburg, VA 24501
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,368
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,360
$187.4K
Cap Rate 7%
$133,829
$133.8K
Cap Rate 9%
$104,089
$104.1K
Market Conditions
NOI Build-Up for 1,180 SF
Gross rent
$19.1K $16.20/SF
− Vacancy
−$2.1K −$1.77/SF
EGI
$17.0K $14.43/SF
− OpEx
−$7.7K −$6.50/SF
NOI
$9.4K $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%
$187,360
Cap Rate 7%
$133,829
Cap Rate 9%
$104,089
Alternative Uses
Best Use
Apartment 5plus
$133.8K
$117.1K – $156.1K
NOI $9,368 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.5K
$305.9K – $407.8K
NOI $24,468 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
606
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Multifamily property - Multifamily property with an established construction date and residential income use.
Where is this multifamily property located?
The property is located at 840 Old Forest Road Lynchburg, VA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Built in 1962 at 840 Old Forest Road, Lynchburg, VA 24501
