$4,500,000

221 Brickyard Dr, Dillwyn, VA 23936

  • 50,000 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1986
  • Property Lot Size Icon5acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $90/sqft
  • Property List Date Icon Listed 1 year ago

Property Description

This well-performing multifamily property offers strong in-place cash flow with continued growth potential. Revenue has increased steadily year over year, with the most recent reporting period (2025) reflecting a 22% increase in NOI from year-end 2024 to year-end 2025, driven by a 30% increase in rents — with additional upside remaining for future rent optimization. Extensive renovations and upgrades completed in recent years make this a turnkey asset with operational stability and attractive value-add opportunity. The property includes 28 two-bedroom / one-bath units and 12 three-bedroom / 1.5-bath units. The three-bedroom units feature in-unit washer/dryer hookups, while the two-bedroom units are served by a central laundry facility. Occupancy has remained consistently strong, supported by a tenant waiting list. Preliminary review indicates the potential to add up to eight additional units (buyer to verify approvals and requirements with the county as part of due diligence). This is a rare opportunity to acquire a stabilized, cash-flowing multifamily asset with meaningful income growth and expansion potential. Property Highlights • Stabilized property with proven operating performance • 22% NOI increase/30% rent growth in most recent year (2024–2025) • Turnkey with numerous recent renovations • Unit mix: 28 (2BR / 1BA) + 12 (3BR / 1.5BA) • Washer/dryer hookups in 3BR units • Central laundry for 2BR units • Consistently high occupancy with waiting list • Potential for up to 8 additional units (verify with county) Showing Instructions: Please DO NOT visit the property or engage with tenants or on-site personnel without prior coordination with the listing agent. All visits must be scheduled through and accompanied by the listing agent.

Listing Status:
Active
Data Last Updated:
March 19, 2026 at 7:17AM
Listing Office:
Shaheen Ruth Martin & Fonville : 804-288-2100
Listing Agent:
Heather Placer Mull : (804) 288-2100
MLS ID:
2430747
  • Appliances: Electric Water Heater
  • Style: Two StoryLow Rise
  • Roofing: Composition
  • General: Brick VeneerBlock2
  • Originating MLS: CVR
  • County: Buckingham
  • Zoning: RT 15 - DILLWYN LOT B 5 AC125-3-2-0B
  • Water: Public
  • Sewer: Public Sewer
  • Source: CVR
  • Ownership: IndividualsSole Proprietor

This listing courtesy of Heather Placer Mull , Shaheen Ruth Martin & Fonville

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

B

Buckingham County Elementary School

40 Frank Harris Rd, Dillwyn, VA, 23936

Grades 3-5

2.53 miles away

B

Buckingham County Middle School

1184 High School Rd, Buckingham, VA, 23921

Grades 6-8

0.95 miles away

B

Buckingham County High School

78 Knights Rd, Buckingham, VA, 23921

Grades 9-12

1.15 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.