221 Brickyard Drive, Dillwyn, VA 23936

Dillwyn
Local realty services provided by:ICON Realty Group ERA Powered
221 Brickyard Drive,Dillwyn, VA 23936
$4,500,000
  • - Beds
  • - Baths
  • 50,000 sq. ft.
  • Multi-family
  • Active
Listed by: heather placer mull, ryder mull
Office: shaheen ruth martin & fonville
MLS#:2430747
Source:RV

Price summary

  • Price:$4,500,000
  • Price per sq. ft.:$90

About this home

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...

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Home facts

  • Year built:1986
  • Listing ID #:2430747
  • Added:562 day(s) ago
  • Updated:June 12, 2026 at 02:24 PM

Rooms and interior

  • Living area:50,000 sq. ft.

Structure and exterior

  • Roof:Composition
  • Year built:1986
  • Building area:50,000 sq. ft.
  • Lot area:5 Acres
  • Architectural Style:Low Rise, Two Story
  • Construction Materials:Block, Brick Veneer
  • Levels:Two, Two Story

Schools

  • High school:Buckingham
  • Middle school:Buckingham
  • Elementary school:Buckingham

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$4,500,000
  • Price per sq. ft.:$90
  • Tax amount:$10,823 (2024)

Features and amenities

  • Appliances:Electric Water Heater
MLS LogoThe information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing. All information provided is deemed reliable but is not guaranteed accurate.The multiple listing information is provided by Central Virginia Regional Multiple Listing Service, LLC from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. RV Member Broker: Catina Jones

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