$1,695,000

Lynchburg, VA 24501

College Hill Neighborhood

Estimated payment $8,993/month

Total Views 10,440
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Wood Flooring
  • Forced Air Heating System
  • Garage
  • Paneling
  • Baseboard Heating

About This Home

Unlock the potential of this exceptional real estate portfolio featuring a total of 15 doors, including multi-family, commercial, and single-family homes. With multiple years remaining on the tax abatement program, you'll enjoy higher-than-normal cash flow. Almost all single-family homes have been updated within the last three years but several units present excellent opportunity for further upgrades, increasing your return on investment. All units are currently occupied, most are long-term tenants with housing vouchers ensuring guaranteed consistent income. An amazing opportunity for experienced savvy investors.

Listing Agent

Jamey Parks

Keller Williams License #0225202079 Listed on: 05/19/2025

Keller Williams

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $506

Year Built

  • Built in 1903

Home Design

  • Plaster Walls

Flooring

  • Wood
  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • Garage
  • Unpaved Driveway
  • On-Street Parking
  • Off-Street Parking

Schools

  • Rs Payne Elementary School
  • Linkhorne Midl Middle School
  • E. C. Glass High School

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Heat Pump System
  • Baseboard Heating
  • Hot Water Heating System
  • Heating System Mounted To A Wall or Window
  • Gas Water Heater

Additional Features

  • Paneling
  • 2,831 Sq Ft Lot

Listing and Financial Details

  • Month-to-Month Lease Term
  • Assessor Parcel Number 01046009

Community Details

Overview

  • Commercial Misc Subdivision

Building Details

  • 6 Separate Gas Meters
  • 12 Separate Water Meters
  • Net Lease
  • Insurance Expense $12,489
  • Water Sewer Expense $1,260
  • New Taxes Expense $3,986
  • Gross Income $160,560

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$506

Year Built

Built in 1903

Lot Details

0

Listing Details

  • Directions: All are located downtown Lynchburg. 1554 Park Ave, 1540-1548 Park Ave, 1536 Park Ave, 1610 Park Ave, 1612 Park Ave, 918 Pierce St, 1320 4th St, 408 Floyd St, 1003 Polk St, 801 Hancock St, 703 Hancock St
  • Internet Providers: Comcast/Xfinity, Hughes.net, Lumos, Shentel, Verizon
  • Days On Market: Yes
  • Prop. Type: Multi-Family
  • Year Built: 1903
  • Garage Yn: No
  • Taxes Expense: 3986.00
  • Property Sub-Type: Multi-Family
  • Total Gross Income: 160560.00
  • Subdivision Name: Commercial Misc
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Broker Approved: Yes
  • Reciprocal Listing: No
  • Flooring: Carpet, Ceramic Tile, Vinyl, Wood Floors
  • Walls: Drywall, Paneling, Plaster

Garage/Parking

  • Parking Features: Garage-Single, Off Street Parking, On-Street, Unpaved Drive, Other

Utilities

  • Utility Electric: American Electric
  • Cooling: Heat Pump, Window Unit(s)
  • Sewer: City
  • Water Heater: Electric, Gas
  • Heating: Electric Baseboard, Forced Warm Air-Gas, Heat Pump, Hot Water-Elec, Hot Water-Gas, Wall/Space Unit
  • Water Source: City

Fee Information

  • Annual Water Sewer Expense: 1260.00

Schools

  • Elementary School: RS Payne Elem
  • High School: E. C. Glass High
  • Middle School: Linkhorne Midl
  • Junior High Dist: Lynchburg

Lot Info

  • Zoning: B-5
  • Acres: 0.0650
  • Lot Size Sq Ft: 2831.00
  • ResoLotSizeUnits: Acres
  • Parcel Number: 01046009

Rental Info

  • Sub Lease: No
  • Types Of Leases: 1 Year Lease, Month to Month
  • Owner Pays: Lawn Care, Trash Removal, Water
  • Sub Lease Expiration Date: 1800-01-01T00:00:00-05:00

Tax Info

  • Estimated Taxes: 506

Multi Family

  • Number Of Units Total: 14
  • Existing Lease Type: Net
  • Insurance Expense: 12489.00
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 12

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $630 $75,000 $16,300 $58,700
2024 $506 $56,800 $6,500 $50,300
2023 $506 $56,800 $6,500 $50,300
2022 $585 $56,800 $6,500 $50,300
2021 $315 $56,800 $6,500 $50,300
2020 $553 $49,800 $6,500 $43,300
2019 $553 $49,800 $6,500 $43,300
2018 $437 $39,400 $4,900 $34,500
2017 $437 $39,400 $4,900 $34,500
2016 $437 $39,400 $4,900 $34,500
2015 $437 $39,400 $4,900 $34,500
2014 $437 $39,400 $4,900 $34,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/30/2025 09/30/25 Price Changed $1,695,000 -5.3% --
05/19/2025 05/19/25 For Sale $1,790,000 -- --
Source: Lynchburg Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Bargain Sale Deed $150,000 None Available
Deed -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $120,000 Purchase Money Mortgage
Source: Public Records

Source: Lynchburg Association of REALTORS®

MLS Number: 359360

APN: 010-46-009

Virginia Lynchburg City County Lynchburg 24501

College Hill

For Sale

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Listing Agent
Jamey Parks
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Keller Williams