221 Brickyard Dr
Dillwyn, VA 23936
Studio
50,000 sqft (on 5 acres)
Studio
50,000 sqft
(on 5 acres)
Local Information
© Google
-- mins to
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.
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.
Home Highlights
Parking
No Info
Outdoor
No Info
HOA
None
Price/Sqft
$90
Listed
180+ days ago
Home Details for 221 Brickyard Dr
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Dimensions and Layout Living Area: 50000 Square Feet |
Appliances & Utilities Appliances: Electric Water Heater |
Levels, Entrance, & Accessibility Stories: 2Number of Stories: 2Levels: Two |
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Exterior Home Features Roof: Composition |
Parking & Garage No Garage |
Frontage Not on Waterfront |
Water & Sewer Sewer: Public Sewer |
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Days on Market: 180+ |
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Year Built Year Built: 1986 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Condominium, Multi FamilyArchitecture: Two Story,Low Rise |
Building Construction Materials: Brick Veneer, Block |
Property Information Parcel Number: 125320B |
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Price List Price: $4,500,000Price Per Sqft: $90 |
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MLS Status: Active |
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Direction & Address City: DillwynCommunity: None |
School Information Elementary School: BuckinghamJr High / Middle School: BuckinghamHigh School: Buckingham |
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Listing Agent Listing ID: 2430747 |
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Community Features: Playground |
Other Playground |
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Association for this Listing: Central Virginia Regional MLS |
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Lot Area: 5 Acres |
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Business Information Ownership: Individuals |
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Mls Number: 2430747Living Area Range Units: Square FeetAttic: NoneAttribution Contact: info@srmfre.comAbove Grade Unfinished Area Units: Square FeetBelow Grade Unfinished Area Units: Square FeetUniversal Property Id: US-51029-N-125320B-R-N |
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Playground |
Last check for updates: about 9 hours ago
Listing courtesy of Heather Placer Mull
Shaheen Ruth Martin & Fonville
Ryder Mull, (804) 350-5160
Shaheen Ruth Martin & Fonville
Originating MLS: Central Virginia Regional MLS
Source: CVRMLS, MLS#2430747
Also Listed on CVRMLS.
Price History for 221 Brickyard Dr
| Date | Price | Event | Source |
|---|---|---|---|
| 03/09/2025 | $4,500,000 | PriceChange | CVRMLS #2430747 |
| 11/27/2024 | $4,650,000 | Listed For Sale | CVRMLS #2430747 |
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Comparable Sales for 221 Brickyard Dr
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
3.28 | Multi-Family Home | $210,000 | 11/12/25 | 6 | 3 | 1,827 |
Assigned Schools
These are the assigned schools for 221 Brickyard Dr.
- Buckingham Co. Middle School
- 6-8
- Public
- 466 Students
5/10GreatSchools RatingParent Rating Average
No reviews available for this school. - Buckingham County High School
- 9-12
- Public
- 654 Students
4/10GreatSchools RatingParent Rating AverageAs a student, I feel open to express my opinion openly around any teacher or fellow classmate. I have formed strong relationships with my classmates as well as my teachers and coaches. The football program is progressing from a disappointing season last year. The athletes and coaches are developing a closer relationship and are becoming a family. I definitely think this school has great potential and can go to great places. We are on the right path. We are all in.Student Review9y ago - Buckingham County Primary School
- K-2
- Public
- 355 Students
NAGreatSchools RatingParent Rating AverageNo reviews available for this school. - Buckingham County Elementary School
- 3-5
- Public
- 417 Students
4/10GreatSchools RatingParent Rating AverageOur experience here have been overall excellent. Great principal and very good teacher.Parent Review4y ago 
Check out schools near 221 Brickyard Dr.
What Locals Say about Dillwyn
At least 6 Trulia users voted on each feature.
100 % Say parking is easy
89 % Say yards are well-kept
83 % Say there's wildlife
79 % Say car is needed
63 % Say people would walk alone at night
63 % Say there's holiday spirit
58 % Say it's quiet
56 % Say neighbors are friendly
56 % Say they plan to stay for at least 5 years
43 % Say there are sidewalks
29 % Say it's walkable to grocery stores
29 % Say kids play outside
27 % Say it's dog friendly
27 % Say it's walkable to restaurants
25 % Say streets are well-lit
Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Heather Placer Mull, Shaheen Ruth Martin & Fonville
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listing s. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
221 Brickyard Dr, Dillwyn, VA 23936 is a studio, 50,000 sqft multi-family built in 1986. This property is currently available for sale and was listed by CVRMLS on Nov 27, 2024. The MLS # for this home is MLS# 2430747.