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1075 W Ocean View Ave
Norfolk, VA 23503
Multifamily Property For Sale
·
8 Units
Investment Highlights
- 8 Units: A Mix of One- & Two-Bedroom Units
- Fully Renovated Interiors & Exteriors
- Prime Location: Less Than 200 Yards from Willoughby Beach
- Stabilized Turnkey Asset with Rental Upside
Executive Summary
Marcus & Millichap is pleased to present the offering memorandum for 1075 W Ocean View Avenue in Norfolk, VA.
The property consists of eight units total. There are four, one-bedroom and one-bathroom units and four, two-bedroom and one-bathroom units. 1075 W Ocean View Avenue was built in 1955, renovated in 2011 and situated on +/- 0 .23 acres.
The property consists of eight units total. There are four, one-bedroom and one-bathroom units and four, two-bedroom and one-bathroom units. 1075 W Ocean View Avenue was built in 1955, renovated in 2011 and situated on +/- 0 .23 acres.
Property Facts
| Price Per Unit | $237,475 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 6.29% | Building Size | 5,266 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1955/2011 |
| Apartment Style | Low-Rise | Parking Ratio | 2/1,000 SF |
| Zoning | R-12 | ||
| Price Per Unit | $237,475 CAD |
| Sale Type | Investment |
| Cap Rate | 6.29% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,266 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1955/2011 |
| Parking Ratio | 2/1,000 SF |
| Zoning | R-12 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Furnished Units Available
- Trash Pickup - Curbside
Property Taxes
| Parcel Number | 16041500 | Improvements Assessment | $1,021,007 CAD |
| Land Assessment | $191,473 CAD | Total Assessment | $1,212,479 CAD |
Property Taxes
Parcel Number
16041500
Land Assessment
$191,473 CAD
Improvements Assessment
$1,021,007 CAD
Total Assessment
$1,212,479 CAD
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