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1957 E Ocean View AVE Norfolk, VA 23503
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Ocean View East
MLS Listing ID 10643752
HOA Y/N No
Year Built 1962
Annual Tax Amount $6,540
Property Description
Exceptional investment opportunity in Norfolk's sought-after Cottage Line neighborhood of Ocean View, just across the street from the Chesapeake Bay. This all-brick, 3,175 sq. ft. apartment building features five units, including four 1-bedroom, 1-bath apartments and one 2-bedroom, 2-bath apartment. Situated on a high-elevation lot, the property does not require flood insurance and includes a detached garage generating additional rental income, plus an off-street parking lot at 1957 E. Ocean View Ave. Each unit is separately metered for electricity, with tenants paying their own electric. When fully leased, the property generates $5,775 per month in apartment rental income, plus an additional $600 per month from the detached garage. Unit E has been updated with new luxury vinyl plank flooring, an updated kitchen, and a refreshed bathroom, and is currently vacant for immediate showings. Occupied units require a minimum of 24 hours' notice.
Location
State VA
County Norfolk
Area 13 - North Norfolk
Interior
Hot Water Gas
Heating Nat Gas
Cooling Window/Wall
Flooring Laminate/LVP
Exterior
Parking Features Lot, Close to Mass Transit, Multi Car, Off Street
Garage Spaces 400.0
Utilities Available City Sewer, City Water, Electric, Gas
Roof Type Poly Skin
Building
Story 2.0000
Foundation Slab
Schools
Elementary Schools Bay View Elementary
Middle Schools Azalea Gardens Middle
High Schools Norview
Others
Senior Community No
Ownership Simple
Disclosures Disclosure Statement
Special Listing Condition Disclosure Statement
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Listed by BHHS RW Towne Realty