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$469,000
Investment opportunity in a prominent Main Street location in downtown Luray! This five-unit apartment building zoned B-1 is currently vacant and ready for its next owner to renovate, reposition, and unlock its potential. Situated on approximately 0.275 acres at the corner of West Main Street and South Lee Street, the property offers a highly visible and convenient location within walking distance of downtown shops, restaurants, services, and other amenities. The building retains its original character, including hardwood flooring, a dual staircase, multiple balconies, and a wrap-around porch/deck. Five existing apartment units provide an excellent starting point for an investor looking to renovate the property and return it to productive use. The property requires substantial renovation, allowing a new owner to update the units, finishes, systems, and common areas to suit their investment plans. Additional features include an unfinished basement offering useful storage and utility space, outdoor areas for tenants, and off-street parking. With all five units currently vacant, a purchaser has the advantage of undertaking renovations without coordinating construction around existing tenants or leases. Whether envisioned as a renovated long-term rental property or another use permitted by applicable zoning, 333 West Main Street offers a rare opportunity to acquire a five-unit property in the heart of Luray and create value through renovation and improved operations.

333 W Main St, Luray

Listing courtesy of Funkhouser Real Estate Group. Contact: 5407434545
$325,000
3 Beds ⋅ 2 Baths
Classic farmhouse charm, modern updates, and an established short-term rental opportunity in the heart of the Shenandoah Valley! Located in the Town of Shenandoah, this beautifully updated 3-bedroom, 2-bath home is currently operated as a successful vacation rental and offers an appealing opportunity for an investor, second-home buyer, or full-time resident. The inviting interior blends farmhouse character with thoughtful improvements, including a fully renovated kitchen with quartz/stone countertops, updated appliances, recessed lighting, a spacious laundry room, and an updated main-level bath with walk-in shower. The primary bedroom features an en-suite bath with a classic clawfoot tub. Outside, enjoy the covered front porch complete with porch swings, expansive rear deck, spacious yard, and hot tub—a guest favorite and the perfect place to unwind after exploring the Valley. The home is conveniently located near the Shenandoah River and within easy driving distance of Shenandoah National Park, Massanutten Resort, Luray Caverns, hiking, fishing, kayaking, and many of the area's most popular attractions. Currently configured to accommodate up to 8 guests, the property has an established rental history and an existing STR presence with numerous guest reviews. Whether you are searching for a primary residence, Shenandoah Valley getaway, or an investment property with an established STR history, 101 Second Street offers a rare opportunity to enjoy it from day one. Do not miss your chance!

101 Second St, Shenandoah

Listing courtesy of Funkhouser Real Estate Group. Contact: 5407434545