Log In/Sign Up
Your email has been sent.
1314-1318 Little Bay Ave 20 Unit Apartment Building $3,041,500 CAD ($152,075 CAD/Unit) Norfolk, VA 23503
EXECUTIVE SUMMARY
1314-1318 Little Bay Avenue presents a rare opportunity to own a 20-unit, 1-bedroom, 1-bath multifamily property in sought-after Norfolk, VA. With eight current vacancies (six of which have just been made rent ready, 2 need full turns), this property offers tremendous value-add potential, including separating water from rent (2 new leases already have this), turning select units, adding laundry in the units, bringing existing rents to market rates, and filling the remaining vacancies. The two buildings are in excellent condition, featuring newer roofs, windows, and well-maintained brick siding. Property has a common area laundry with coin operated machines. Gas heat and wall AC make for low maintenance costs. To maximize appeal, envision adding a mural to enhance its coastal charm and solidify its place in this sought-after community. Don’t miss this chance to capitalize on a well-maintained property with exceptional upside!
PROPERTY FACTS
| Price | $3,041,500 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $152,075 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Gross Rent Multiplier | 21.06 | Building Size | 13,806 SF |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1970/1984 |
| Property Subtype | Apartment | Parking Ratio | 2.17/1,000 SF |
| Zoning | R-12 | ||
| Price | $3,041,500 CAD |
| Price Per Unit | $152,075 CAD |
| Sale Type | Investment |
| Gross Rent Multiplier | 21.06 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 13,806 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1970/1984 |
| Parking Ratio | 2.17/1,000 SF |
| Zoning | R-12 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 700 |
1 1
PROPERTY TAXES
| Parcel Number | 38116500 | Improvements Assessment | $2,136,080 CAD |
| Land Assessment | $271,972 CAD | Total Assessment | $2,408,052 CAD |
PROPERTY TAXES
Parcel Number
38116500
Land Assessment
$271,972 CAD
Improvements Assessment
$2,136,080 CAD
Total Assessment
$2,408,052 CAD
1 of 25
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1314-1318 Little Bay 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.