Marcus & Millichap has been selected to exclusively market for sale the Brandon Avenue Apartments, a 12-unit apartment property located in the historic Ghent neighborhood of Norfolk, VA.
The Brandon Avenue Apartments consist of 12 units across one three-story building built in 1928 and situated on 0.27 acres. There are twelve (12) 908 sqft two-bedroom one-bathroom units. The units feature hardwood flooring, tile flooring, private balconies, ceiling fans, spacious closets, and abundant natural light. Located in Ghent, Norfolk, the property’s prime location enjoys the benefits of not only Hampton Roads liveliest metro, but also the most prominent arts and culture district in the entire MSA. The Brandon Avenue Apartments also provide quick access to Downtown Norfolk and Norfolk’s Waterside District. The Brandon Avenue Apartments have a current occupancy of 91.7% while the Ghent submarket has shown 95.5% occupancy for the past year. With a focus on healthcare, professional, and business services sectors, Ghent is less susceptible to the volatility in the military and shipping industries that increased vacancies throughout the Hampton Roads.
