Active
16 beds8 baths9,792 sqft$92/sqft
308 Armory Rd, Galax, VA 24333
Est: $4,835/moGet pre-approved
Multi FamilyProperty Type
1.3 acresLot Size
1988Year Built
$92/sq ftPrice per sq ft

Description

Excellent investment opportunity in a desirable Galax location! This 8-unit complex is comprised of four duplex-style townhomes and offers strong gross rental income with a solid NOI. The property provides additional upside potential, with room for rent growth among several longer-term tenants. A couple of the units have been recently renovated, providing a great example of the potential for continued improvements throughout the complex. All eight units feature full basements, offering tenants valuable...Excellent investment opportunity in a desirable Galax location! This 8-unit complex is comprised of four duplex-style townhomes and offers strong gross rental income with a solid NOI. The property provides additional upside potential, with room for rent growth among several longer-term tenants. A couple of the units have been recently renovated, providing a great example of the potential for continued improvements throughout the complex. All eight units feature full basements, offering tenants valuable additional space and storage, while two units also include private garages. The property is conveniently located just a short drive from town, combining easy access to Galax amenities with an attractive residential setting. With established rental history, good current income, and opportunities to increase rents and further improve units over time, this property offers an appealing combination of immediate cash flow and long-term investment potential. A great opportunity to add a substantial multifamily asset to your portfolio!
10 days on Market
  • Listed by: Christopher Fox 276.617.0189 chrisfox.realtor@gmail.com Brokerage DRE #0226010665 • BHHS- Mountain Sky Properties, Wytheville
Last updated: 09/01/2026 07:28 AM • Source: Southwest Virginia AOR, MLS#: 111693

Location

Listing Courtesy of BHHS- Mountain Sky Properties, Wytheville, Christopher Fox
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Payment Calculator

$4,835 per month

30 year fixed, 6.55% Interest

Principal and Interest

$4,575

Property Taxes

$260

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 308 Armory Road

Property Details
Building Information
  • Residences: 8
  • Year Built: 1988
  • Lot Size: 1.30 AC / 56,628 SF
Summary
Location and General Information
  • Carrier Route: R007
  • Directions: 77 south take exit 14, right off exit towards glaax, straight through town, right onto armory.
  • Latitude: 36.660916
  • Longitude: -80.942352
Taxes and HOA
  • Parcel Number: 52-81
  • Tax Lot: 81, 82, 83
  • Tax Year: 2025
School Information
  • Elementary School: Galax
  • High School: Galax
  • Middle Or Junior School: Galax
Parking
  • Parking Features: Concrete, Paved
Property
Lot Information
  • Lot Size Acres: 1.3
Property and Assessments
  • Below Grade Unfinished Area: 4896.0
  • Building Area Total: 14688.0
  • Living Area: 9792.0
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1988
Building Features
  • Construction Materials: Brick, Vinyl Siding
  • Roof: Shingle
Farm Information
  • Horse: No
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Appliances: Refrigerator, Range
  • Basement: Full
  • Has Basement: Yes
  • Total Bathrooms: 1
  • Total Bedrooms: 16
  • Cooling: Central Air
  • Has Cooling: Yes
  • Heating: Heat Pump
  • Has Heating: Yes
  • Flooring: Carpet, Vinyl
  • Laundry Features: Main Level
  • Has Spa: No
Multi Family
Multi Family Information
  • Number Of Units Total: 8
Income & Expenses
  • Gross Income: $98,665
  • Net Operating Income: $52,651
Unit Information
Unit 1
  • Baths Total: 1
  • Total Rent: $850.00
  • Units Total: 8

Property History for 308 Armory Road

DateEvent & SourcePriceAppreciation
Sep 1, 2026

Listed (Active)

Southwest Virginia AOR #111693

Aug 31, 2026

Expired

Southwest Virginia AOR #111693

$900,000
Aug 29, 2026

Listed (Active)

Southwest Virginia AOR #111693

$900,000
DateEvent & SourcePrice
09/01/2026

Listed (Active)

Southwest Virginia AOR #111693

08/31/2026

Expired

Southwest Virginia AOR #111693

$900,000
08/29/2026

Listed (Active)

Southwest Virginia AOR #111693

$900,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 308 Armory Road

Taxable ValueLand$20,000Additions$292,000Total$312,000
Tax Record2022$3,120 ($260 / month)
Home Facts
Beds4Total Finished SqFt3,028 SqFtAbove Grade Finished SqFt3,028 SqFtStories2Lot Size20,038 SqFtStyleSingle Family ResidenceZoningR2CountyGALAX CITYAPN52- 83

Schools near 308 Armory Road

This home is within Galax City Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Galax Elementary School
PublicPK to 5

Galax Middle School
Public6 to 8

Galax High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

308 Armory Road is a multi-family home for sale in Galax, VA 24333. This property was listed for sale on August 29, 2026 by BHHS- Mountain Sky Properties, Wytheville, it's currently listed at $900,000. It has been on the market for a total of 10 days and was last sold on February 15, 2022. This listing's school district is Galax City Public Schools. Nearby schools include Galax Elementary School, Galax Middle School and Galax High School. 308 Armory Road is a 16-bed, 8-bath, 9,792 sqft multi-family home built in 1988.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of BHHS- Mountain Sky Properties, Wytheville, Christopher Fox

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Southwest Virginia Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than Compass and its related brokerages, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 Southwest Virginia Association of REALTORS®. All Rights Reserved.