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INVESTMENT HIGHLIGHTS
- 243 Units: A Mix of One-, Two- & Three-Bedrooms
- Prime Location to Major Employers: Portsmouth Naval Center & Norfolk Naval Shipyard
- Easy Access to I-64, HRBT & I-264
- Value-Add Opportunity
- Within 15 Minutes of Waterside District, Historic Portsmouth & Norfolk International Airport
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the offering memorandum for Lansdale Garden & Miramar Apartments located at 2713-2719 Azalea Garden Road, 1209 Norview Avenue & 7001-7131 Sewells Point Road in Norfolk, VA 23513
The properties consist of two-hundred and forty-three-units total. There are seventy-five one-bedroom & one-bathroom units, one-hundred and eighteen two-bedroom & one-bathroom units and fifty, three-bedroom & two-bathroom units across sixteen, two story buildings built in 1964 & 1972 and situated on a cumulative 7.71+/- acres.
The properties consist of two-hundred and forty-three-units total. There are seventy-five one-bedroom & one-bathroom units, one-hundred and eighteen two-bedroom & one-bathroom units and fifty, three-bedroom & two-bathroom units across sixteen, two story buildings built in 1964 & 1972 and situated on a cumulative 7.71+/- acres.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$99,999
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 231,621 SF |
| Number of Properties | 3 | Total Land Area | 8.19 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 231,621 SF |
| Total Land Area | 8.19 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Miramar Apartments
7131 Sewells Point Rd, Norfolk, VA 23513 |
Multifamily | 155,295 SF | 1976 | - |
|
Lansdale Garden Apartments
2713-2719 Azalea Garden Rd, Norfolk, VA 23513 |
Multifamily | 62,100 SF | 1964 | - |
|
Lansdale Garden Apartments
1209-1213 Norview Ave, Norfolk, VA 23513 |
Multifamily | 14,226 SF | 1984 | - |
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Lansdale Garden & Miramar Apartments
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