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1336 Picadilly St
Norfolk, VA 23513
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Six-unit multifamily property with 100 percent occupancy and stable income.
- Recent system upgrades, including HVAC and water heaters, enhance operational reliability.
- Located in a resilient market with strong rental demand and diverse employment drivers.
- Each unit offers a 3-bedroom, 2-bathroom layout with in-unit laundry and modern finishes.
- Convenient access to Interstate 64 and surrounding Norfolk neighborhoods.
- Ample on-site parking with 12 dedicated spaces for residents.
Executive Summary
Colliers presents 1336 Picadilly Street, a six-unit multifamily investment opportunity in Norfolk, Virginia. Built in 2009, this three-story property sits on approximately 0.47 acres and offers a low-maintenance design with consistent operational performance. Each of the six units features a spacious three-bedroom, two-bathroom layout totaling 1,200 square feet, with in-unit laundry, LVP flooring, and ample storage. All units are separately metered, providing efficient utility management for owners.
The property has undergone recent capital improvements, including HVAC and water heater upgrades, reducing near-term capital expenditure requirements. With 100 percent occupancy and in-place rents averaging $1,900 per unit, the asset delivers stable cash flow and strong income potential. The site includes 12 parking spaces and offers convenient access to major roadways, including Interstate 64, ensuring connectivity to the broader Hampton Roads region.
Norfolk’s multifamily market remains resilient, supported by a diverse employment base, proximity to the waterfront, and a strong cultural and economic hub. This property represents an attractive opportunity for investors seeking a well-maintained, income-producing asset in a stable submarket with long-term growth potential.
The property has undergone recent capital improvements, including HVAC and water heater upgrades, reducing near-term capital expenditure requirements. With 100 percent occupancy and in-place rents averaging $1,900 per unit, the asset delivers stable cash flow and strong income potential. The site includes 12 parking spaces and offers convenient access to major roadways, including Interstate 64, ensuring connectivity to the broader Hampton Roads region.
Norfolk’s multifamily market remains resilient, supported by a diverse employment base, proximity to the waterfront, and a strong cultural and economic hub. This property represents an attractive opportunity for investors seeking a well-maintained, income-producing asset in a stable submarket with long-term growth potential.
Property Facts
| Sale Type | Investment | Building Class | B |
| No. Units | 6 | Lot Size | 0.47 AC |
| Property Type | Multifamily | Building Size | 7,266 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2009 |
| Zoning | R-11 | ||
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.47 AC |
| Building Size | 7,266 SF |
| No. Stories | 3 |
| Year Built | 2009 |
| Zoning | R-11 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 6 | - | - |
Property Taxes
| Parcel Number | 29398000 | Improvements Assessment | $896,826 CAD |
| Land Assessment | $78,330 CAD | Total Assessment | $975,155 CAD |
Property Taxes
Parcel Number
29398000
Land Assessment
$78,330 CAD
Improvements Assessment
$896,826 CAD
Total Assessment
$975,155 CAD
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