$1,275,000

625 Alleghany AVE
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

Maps

General Property Description

Multi-Family Type: Apartments

Construction Status: Completed

Year Built: 1947

Present Use: Built-As

Number of Units: 7

# Unfurnished: 7

# Leased Units: 7

Gross Bldg SQFT: 4860

Total Acreage: 0.28

Basement Y/N: No

Parking Description: On Street

Operating Expense: 31469

Net Operating Income: 110778

Gross Income: 68331.83

Water Class: N/A

Location, Tax & Legal

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

Miscellaneous Info

Public Transport: Yes

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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