Twin Brooks Lodge offers a rare investment opportunity combining income-producing apartments, historic charm, and unique property features. Originally built to accommodate tourists as an Airbnb, the property now provides housing for five full-time tenants. The apartment building features five efficiency apartments, including one handicap-accessible unit. Each apartment offers 1 bedroom, 1 bath, a living area, and an eat-in kitchen equipped with a refrigerator, microwave, hot plate, and sink. Hardwood floors and mini-split heating and cooling provide comfort and easy maintenance. Adding to the property's character is a 2 bedroom historic log cabin, previously used as a rental and currently vacant add more income producing potential. The cabin is being sold as-is. Additional historic features include a log kitchen/shelter and a grist mill. Enjoy the peaceful setting and soothing sounds of two streams flowing through the property. A truly unique investment property.
For sale
$550,000
765 Water Wheel Rd, Galax, VA 24333
--beds
--baths
2,788sqft
Apartment
Built in ----
-- sqft lot
$535,400 Zestimate®
$197/sqft
$-- HOA
What's special
Grist millPeaceful settingHandicap-accessible unitMini-split heating and coolingHardwood floors
- 9 days
- 229
- 6
Zillow last checked:
Listing updated:
Listed by:
Pamela Montgomery 276-223-8719,
Berkshire Hathaway Home Services Mountain Sky Properties-Wythev 276-228-8882
Source: New River Valley AOR,MLS#: 428661
Facts & features
Interior
Heating
- Baseboard-Electric
Cooling
- Electric, Air Conditioned
Appliances
- Included: Refrigerator, Electric Water Heater, Appliances Included
- Laundry: Ldry Facility Avail
Features
- Bath
- Flooring: Hardwood, Vinyl
- Basement: Crawl Space,None
Interior area
- Total structure area: 2,788
- Total interior livable area: 2,788 sqft
Video & virtual tour
Property
Parking
- Total spaces: 1
- Parking features: Off Street, One Car/Unit
Features
- Levels: One
- Stories: 1
Lot
- Size: 3.3 Acres
Details
- Parcel number: 41A70A
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Contemporary,Ranch
- Property subtype: Apartment
Materials
- Block, Other - See Remarks
- Roof: Shingle
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
Community & HOA
Community
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Galax
Financial & listing details
- Price per square foot: $197/sqft
- Tax assessed value: $176,300
- Annual tax amount: $952
- Date on market: 9/12/2026
- Cumulative days on market: 9 days
Estimated market value
$535,400
$503,000 - $562,000
$1,372/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/12/2026 | Listed for sale | $550,000$197/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,023 +7.4% | $176,300 |
| 2024 | $952 | $176,300 |
| 2023 | $952 | $176,300 |
| 2022 | $952 -3% | $176,300 +5.9% |
| 2021 | $982 | $166,400 |
| 2020 | -- | $166,400 |
| 2018 | -- | $166,400 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 24333
Nearby schools
Schools provided by the listing agent
- Elementary: Fries
- Middle: Grayson Highlands
- High: Grayson Highlands
- District: Grayson County
Source: New River Valley AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.





