$1,275,000
Staunton, VA 24401
MLS# 931228
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Property Description
Fully leased, 7-unit apartment building offered for the serious multifamily investor. All units were renovated in 2018/2019, including upgraded electrical, plumbing, and HVAC systems, and a new roof was installed in March 2023. The building is 100% occupied, electric is individually metered and tenants pay all utilities. Located in the heart of Staunton's historic Lakeview area, the property offers a rare combination of stabilized in-place income and a location that drives durable long-term rental demand. The building is close to Gypsy Hill Park and its public golf course, picnic pavilions, and beloved duck pond, as well as Mary Baldwin University, downtown restaurants and retail, the Amtrak station, and Augusta Health's Staunton outpatient center, with the main Augusta Health hospital campus a short drive away and Western State Hospital approximately 3.5 miles out. Easy access to I-81 and I-64 connects the property to Harrisonburg, Charlottesville, Richmond, and Washington, D.C. This is a turnkey opportunity for an investor seeking in-place cash flow and in a location with genuine, multi-driver rental demand. Serious inquiries only. To learn more about Staunton, visit visitstaunton.com.
Details
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 0.28
Present Use: Built-As
# Furnished: 0
# Unfurnished: 7
# Leased Units: 7
Gross Bldg SQFT: 4860
Basement Y/N: No
Water Class: N/A
Parking Description: On Street
Gross Income: 68331.83
Year Built: 1947
Number of Units: 7
Operating Expense: 31469
Net Operating Income: 110778
Location, Tax & Legal
Major Area: 99 - All other Counties/Cities
Phase: 0
Lot: 12 & 13
Block: 8
Tax ID: 6468
Annual Taxes: 8101
Section: 0
Zoning Code: R3
POA Y/N: No
Area: 9900 - All Other Counties/Cities
Street Number: 625
Street Name: Alleghany
Street Suffix: AVE
State/Province: VA
Zip Code: 24401
Subdivision: N/A
Municipality: Other - See Remarks
Elementary School: Other - See Remarks
Middle School: Other - See Remarks
High School: Other - See Remarks
Remarks & Misc
Public Remarks: Fully leased, 7-unit apartment building offered for the serious multifamily investor. All units were renovated in 2018/2019, including upgraded electrical, plumbing, and HVAC systems, and a new roof was installed in March 2023. The building is 100% occupied, electric is individually metered and tenants pay all utilities.
Located in the heart of Staunton's historic Lakeview area, the property offers a rare combination of stabilized in-place income and a location that drives durable long-term rental demand. The building is close to Gypsy Hill Park and its public golf course, picnic pavilions, and beloved duck pond, as well as Mary Baldwin University, downtown restaurants and retail, the Amtrak station, and Augusta Health's Staunton outpatient center, with the main Augusta Health hospital campus a short drive away and Western State Hospital approximately 3.5 miles out. Easy access to I-81 and I-64 connects the property to Harrisonburg, Charlottesville, Richmond, and Washington, D.C.
This is a turnkey opportunity for an investor seeking in-place cash flow and in a location with genuine, multi-driver rental demand. Serious inquiries only.
To learn more about Staunton, visit visitstaunton.com.
Directions: West Fredrick ST, Left on Alleghany Ave, property on right
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Heating
Heat Pump Electric: 1
Misc Features
Maint-Free Exterior: 1
Miscellaneous Info
Public Transport: Yes
Cooling
Heat Pump Electric: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Lease Type
One Year: 1
Month To Month: 1
Owner Expenses
Lawn Care: 1
Management Fee: 1
Other - See Remarks: 1
Internet Access
Fiber: 1
Tenant Expenses
All Utilities: 1
Expenses
Management Exp: 5908.37
Maintenance Exp: 6003.63
Insurance Exp: 1800
Electric Exp: 35
Water Exp: 691.72
Contract Information
Current Price: $1,275,000
List Price: $1,275,000
List Date: 2026-09-10
Status: Active
Property Features
Limited Service: Not Limited Service
Construction: Brick
Heating: Heat Pump Electric
Cooling: Heat Pump Electric
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Water Heater Energy: Electric
Lease Type: One Year; Month To Month
Owner Expenses: Lawn Care; Management Fee; Other - See Remarks
Misc Features: Maint-Free Exterior
Internet Access: Fiber
Tenant Expenses: All Utilities
Listing Office: MAC WESTLAND REAL ESTATE GROUP
Last Updated: September - 10 - 2026
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