Norfolk VA Multi Family for Sale
$2,800,000
1000 Gates Avenue Norfolk, VA 23507
- Type:
- Apartment Building
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 1918
- Baths:
- MLS#:
- 10543035
- Subdivision:
- GHENT
View additional info
Courtesy: Inlet Realty
757-276-3330
ADDITIONAL INFORMATION
For sale: a stunning 12-unit, all-brick apartment building in Norfolk's sought-after Ghent neighborhood. This 3-story building includes 3 one-bedroom, 1-bath units; 6 two-bedroom, 1-bath units; and 3 three-bedroom, 2-bath units, generating a total monthly rent of $19,775. The property boasts a 6.2% cap rate and underwent complete renovations in 2018, including new kitchens with granite countertops and high-end cabinetry, new bathrooms, and new electrical and plumbing systems. Each unit features a washer/dryer and mini-split HVAC systems, with tenants paying all utilities. The freshly sealed roof ensures low maintenance. Conveniently located near EVMS and multiple military bases, this fully occupied property is one of the best in Ghent. Don't miss this exceptional investment opportunity.
$569,000
618 Redgate Avenue Norfolk, VA 23507
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 1908
- Baths:
- 5.00
- MLS#:
- 10527025
View additional info
Courtesy: Keller Williams Town Center
757-499-5911
ADDITIONAL INFORMATION
Great opportunity for investors looking in Ghent! All four units are occupied and will be available to view once under contract. Convenient location to ODU, Naval Bases, and Hospitals as well as numerous restaurants and shops. There is even an on-site laundry facility. You don't want to miss out on this! Seller to make no repairs.
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Norfolk Real Estate
The median home value in Norfolk, VA is $271,500. This is higher than the county median home value of $256,000. The national median home value is $338,100. The average price of homes sold in Norfolk, VA is $271,500. Approximately 40.06% of Norfolk homes are owned, compared to 51.95% rented, while 7.99% are vacant. Norfolk real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Norfolk real estate agent to arrange a tour today!
Norfolk, Virginia 23507 has a population of 238,556. Norfolk 23507 is more family-centric than the surrounding county with 26.78% of the households containing married families with children. The county average for households married with children is 25.35%.
The median household income in Norfolk, Virginia 23507 is $56,244. The median household income for the surrounding county is $56,244 compared to the national median of $69,021. The median age of people living in Norfolk 23507 is 30.9 years.
Norfolk Weather
The average high temperature in July is 88.2 degrees, with an average low temperature in January of 33.3 degrees. The average rainfall is approximately 47.3 inches per year, with 5.1 inches of snow per year.