501 4th Street

Waynesboro VA 22980

2700 sq. ft.

0.28 ac.

Apartment

Currently for sale - view listing

Overview

Four-unit investment opportunity in Waynesboro, priced below tax assessment with plenty of room to add value. The adjacent buildable lot is included in the sale (see MLS #683765). This two-story building on a corner lot offers two 2-bedroom and two 1-bedroom units, each with separate electric and gas meters. The property backs up to an alley. It needs renovation and is being sold as-is, making it a good fit for an investor or anyone ready to take on a project. Current rental income is $20,700 a year, well below what renovated units in the area bring in, so there’s real upside with updates. All tenants are month-to-month, giving a new owner flexibility to renovate and reposition. Close to downtown Waynesboro with easy access to I-64.