Martinsville, VA Multifamily Homes & Duplexes for Sale

/4
$58,000
- 4 Baths
- 2,496 Sq Ft
2520 Appalachian Dr, Martinsville, VA 24112

This four (4) apartment building is waiting for someone to revive it - investors welcome! Across from the Smith River, with access to fishing and kayaking, very close to local shopping and restaurants. Agents must complete the "Hold Harmless" agreement provided in Navica. Property is being offered in "as is" condition with no repairs. All information is taken from Seller and tax ticket, and to

Barbara Waldron Berry-Elliott, REALTORS

2520 Appalachian Dr, Martinsville, VA 24112
/19
$260,000
- 1 Bath
- 2,214 Sq Ft
221 Clearview Dr, Martinsville, VA 24112

Great investment property! 4 - 1BR units, brick building with lots of updates. 3 units are currently occupied. New paint, flooring, new steps and decks on back of building. Large lot with paved parking. Look at the photos - it looks great! 72hrs notice required to show occupied units. 1unit vacant and available for show anytime!

Tinsley Brazauskas Berry-Elliott, REALTORS

221 Clearview Dr, Martinsville, VA 24112
/20
$289,900
- 5 Baths
- 4,720 Sq Ft
216 College St, Martinsville, VA 24112

INCOME PRODUCING! Looking for a stable rental investment? Whether you are looking to add to your portfolio or just getting started, this property offers steady passive income with 4 out of 5 units occupied. Vacant unit was recently updated along with a fridge, stove, washer and dryer installed. Photos shown are of the updated vacant unit. Lot size and Sq. Footage estimated. No warranties

Cait Willard KW Martinsville

216 College St, Martinsville, VA 24112
/2
$198,900
- 2 Baths
- 2,155 Sq Ft
1322 Spruce St, Martinsville, VA 24112

Located in Druid Hills Subdivion, this duplex offers a strong rental history. Each unit has 2 bedrooms and 1 bath and a full unfinished walk-out basement. Close proximity to the Druid Hills Shopping Center, restaurants, Post Office and grocery store. Both units are occupied, Appointment mandatory with 72hrs notice. Rents are $600 and $725. Tenants are on a MTM lease. Excellent Investment

Tinsley Brazauskas Berry-Elliott, REALTORS

1322 Spruce St, Martinsville, VA 24112
/2
$198,900
- 2 Baths
- 2,156 Sq Ft
700 Grattan Rd, Martinsville, VA 24112

Located in Druid Hills Subdivion, this duplex offers a strong rental history. Each unit has 2 bedrooms and 1 bath and a full unfinished walk-out basement. Close proximity to the Druid Hills Shopping Center, restaurants, Post Office and grocery store. Both units are occupied, Appointment mandatory with 72hrs notice. Rents are $600 and $700. Tenants are on a MTM lease. Excellent Investment

Tinsley Brazauskas Berry-Elliott, REALTORS

700 Grattan Rd, Martinsville, VA 24112

Virginia Martinsville

Why Live in Martinsville

Martinsville, located in southwest Virginia, is a small city known for its blend of urban amenities and rural beauty. The city has a rich history in manufacturing but is now recognized for its growing population, new local businesses, and increasing housing market. Martinsville is home to the Virginia Museum of Natural History, which features award-winning exhibits and educational programs, making it a significant attraction for tourists and locals alike. The Martinsville Speedway hosts NASCAR weekends, and the city celebrates various festivals such as the Rooster Walk music and arts festival and Smith River Fest. Outdoor activities are abundant, with public parks, trails, and the nearby Smith River offering canoeing, kayaking, and fishing. Philpott Lake, located about 20 miles northwest, provides additional outdoor experiences with its expansive wilderness. Martinsville's Uptown district, undergoing revitalization, features brewpubs, cafes, and restaurants, while major shopping centers on Commonwealth Boulevard house national brands like Kroger and Walmart. The city has a strong public education system and offers various community events at the Martinsville Branch Library. Housing options range from affordable manufactured homes and fixer-uppers to larger estates near Lake Lanier. Martinsville is approximately 55 miles from Greensboro, North Carolina, and is accessible via Routes 220 and 58. While crime rates fluctuate around the national average, the city occasionally experiences flooding due to heavy rainfall.

Learn more about living in Martinsville

Home Trends in Martinsville, VA

On average, homes in Martinsville, VA sell after 90 days on the market compared to the national average of 70 days. The median sale price for homes in Martinsville, VA over the last 12 months is $150,500, down 19% from the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price

$150,500

Median Single Family Sale Price

$147,500

Average Price Per Sq Ft

$98

Number of Homes for Sale

Last 12 months Home Sales

356

Months of Supply

0.70

Median List Price

$169,450

Median Change From 1st List Price

Median Home Sale Price YoY Change

-19%

How to Buy a Home How to Finance a Home How to Sell a Home

In Martinsville, there are currently 5 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $58,000 to $289,900, there's a range to accomodate every budget. As of July, 2025 the median home price in Martinsville is $169,450, while the average sale price is $197,979, offering insights into the local housing market. On average, multi-family homes spend 90 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Martinsville, VA.

Martinsville Types of Homes for Sale

More About Living in Martinsville

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