333 W Main St, Luray, VA 22835

Description

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.