Sold for $180,000

$180,000

2278 Otey St, Lynchburg, VA 24501

--beds

1,786sqft

Multi Family

Built in 1900

-- sqft lot

$-- Zestimate^®

$101/sqft

$1,532 Estimated rent

Home value

Not available

Estimated sales range

Not available

$1,532/mo

Zestimate^® history

Owner options

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$1,532/mo

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$1,532/mo

Rent Zestimate^®

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$866/mo

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$866/mo

Est. payment

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What's special

Great Investment Opportunity. This four-unit package includes a multi-family building and a single-family home (2530 Morson Street). Fully rented with long-term tenants in place. Conveniently located near shopping, dining, and major roadways, this property offers steady cash flow and investment potential. Square footage is estimated to be all 4 units. Photos reflect unit #2 at latest vacancy. A great addition to any portfolio with immediate rental income and room for future growth.

Facts & features

Interior

Bedrooms & bathrooms

Bathrooms: 4
Full bathrooms: 4

Heating

Forced Warm Air-Gas

Cooling

Window Unit(s)

Appliances

Included: Electric Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator), Unit 4(Range/Oven, Refrigerator)

Features

Flooring: Vinyl, Wood Floors
Has fireplace: Yes

Interior area

Total structure area: 1,786
Total interior livable area: 1,786 sqft

Property

Parking

Parking features: Off Street

Lot

Size: 10,053 Square Feet

Details

Foundation area: 0
Parcel number: 05022021

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Drywall, Paneling, Plaster, Aluminum Siding, Vinyl Shake, Wood Siding

Condition

Year built: 1900

Utilities & green energy

Electric: American Electric
Sewer: County
Water: City

Community & HOA

Community

Features: Shopping Nearby
Subdivision: Fairview Heights

Location

Region: Lynchburg

Financial & listing details

Price per square foot: $101/sqft
Tax assessed value: $155,400
Annual tax amount: $1,263
Date on market: 2/27/2025
Cumulative days on market: 187 days
Lease term: Month To Month

Price history

Date	Event	Price
12/29/2025	Sold	$180,000+0.1%$101/sqft
Source: LMLS #357477 Report a problem
9/2/2025	Pending sale	$179,900$101/sqft
Source: LMLS #357477 Report a problem
4/9/2025	Price change	$179,900-10%$101/sqft
Source: LMLS #357477 Report a problem
2/27/2025	Listed for sale	$199,900+122.4%$112/sqft
Source: LMLS #357477 Report a problem
9/19/2016	Listing removed	$89,900$50/sqft
Source: Re/Max 1st Olympic #298238 Report a problem
4/28/2016	Listed for sale	$89,900$50/sqft
Source: Re/Max 1st Olympic #298238 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$1,305 +3.4%	$155,400 +9.5%
2024	$1,263	$141,900
2023	$1,263 -16.6%	$141,900 +4%
2022	$1,515	$136,500
2021	$1,515	$136,500 +1.8%
2020	--	$134,100
2019	--	$134,100
2018	--	$134,100
2017	$1,489	$134,100
2016	$1,489	$134,100 -1.1%
2015	$1,489 -1.1%	$135,600
2014	$1,505	$135,600
2012	--	$135,600
2011	--	$135,600
2009	--	$135,600 +6.3%
2008	--	$127,600 +194.7%
2007	--	$43,300
2006	--	$43,300
2005	--	$43,300 +48.8%
2004	--	$29,100
2003	--	$29,100 +3.9%
2002	--	$28,000
2001	--	$28,000