1957 E Ocean View Avenue, North Norfolk, VA 23503
- $700,000
- List Price
- $700,000
- Status
- ACTIVE
- MLS#
- 10643752
- Year Built
- 1962
- County
- Norfolk VA
- City
- North Norfolk
- Subdivision
- Ocean View East
- Neighborhood
- Ocean View East
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.
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Additional Information
- Heating
- Nat Gas
- Cooling
- Window/Wall
- Roof
- Poly Skin
- Floors
- Laminate/LVP
- Exterior
- Brick
- Parking Description
- Lot, Close to Mass Transit, Multi Car, Off Street
- Elementary School
- Bay View Elementary
- Middle School
- Azalea Gardens Middle
- High School
- Norview
- Contingency Exists
- Non Contingent
- Days on Market
- 12
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Listing courtesy of BHHS RW Towne Realty.
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