MLS# 683766 – 501 4th St, Waynesboro, VA 22980

Property Description

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.

Property Details and Features

Property Access
Frontage Type: PublicRoad

Appliances & Equipment
ConvectionOven
Refrigerator

Basement
Unfinished

Building
Built in 1920
Living area: 2700.0
Construction Materials: Masonite

Cooling
WindowUnits

Disclosures
Disclaimer: The listing broker’s offer of compensation is made to participants of the MLS where the listing is filed, as well as participants of Bright MLS via the CAAR/Bright MLS data share.
SellerDisclosure

Exterior Features
Patio/Porch Features: FrontPorch, Porch, SidePorch

Foundation
Block

Heating
ForcedAir
NaturalGas

Laundry
None

Listing
Listing ID: 683766
Standard Status: Active
MLS Status: Active
Property Subtype: Apartment
On market as of 2026-11-05
1 day on market

Location
Subdivision: BCMM & LC
County/Parish: Waynesboro

Lot
0.28 acres

Owner Pays
Sewer
Water

Roof
Metal

Schools
Elementary School: Wenonah
Middle School: Kate Collins
High School: Waynesboro

Sewer
PublicSewer

Taxes
Parcel Number: 1960
Annual Amount: $2,081.04
Legal Description: BLOCK 8 LOTS 45, 46, 47, & 48 BCMM&L
Year: 2026
Zoning description: RG-5 General Residential

Tenant Pays
Electricity
Gas

Utilities
CableAvailable
Water Source: Public

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MLS# 683766 – 501 4th St, Waynesboro, VA 22980

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