831 W Ocean View Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
831 W Ocean View Ave
16 Unit Apartment Building $2,950,000 ($184,375/Unit) 6.21% Cap Rate Norfolk, VA 23503
Investment Highlights
- High Occupancy
- High Rents
- Fully Remodeled
Executive Summary
Property well maintained. Great location just across from the beach and backs up to a park on the water. 2 buildings of Garden Style townhomes with a court yard in the middle each unit with its own spacious front porch. All units are approximately 800 sqft. Each unit is 2 bed 1 bath and some 2 bed 1.5 baths. Each unit has washer and dryer in unit and central heat and air. All units hardwood flooring and or LVP flooring through out. Large parking lot. Great community. Near to bases.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$191,830
|
$14.62
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $191,830 |
| Annual Per SF | $14.62 |
Property Facts
| Price | $2,950,000 | Apartment Style | Low Rise |
| Price Per Unit | $184,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.59 AC |
| Cap Rate | 6.21% | Building Size | 13,120 SF |
| Gross Rent Multiplier | 11.61 | Average Occupancy | 98% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment |
| Price | $2,950,000 |
| Price Per Unit | $184,375 |
| Sale Type | Investment |
| Cap Rate | 6.21% |
| Gross Rent Multiplier | 11.61 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 13,120 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1965 |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
- Porch
Site Amenities
- Picnic Area
- Playground
1 of 1
zoning
| Zoning Code | R-12 |
| R-12 |
1 of 23
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Inlet Realty and Property Management
831 W Ocean View Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.