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OV Living 9 Multifamily Properties in Norfolk, VA
Investment Highlights
- High Demand Beach Community: Direct access to the Chesapeake Bay and consistent occupancy drive by limited waterfront housing
- Incredible Operation Upside Opportunity: Interior upgrades support rent growth and value appreciation
- High Barrier of Entry for New Multifamily Supply: Limited land, coastal zoning and elevated costs restrict new development
- Easy Access to Numerous Employment Centers & Transit: Within 10 minutes from Norfolk International Airport, Naval Station Norfolk and Little Creek B
Executive Summary
The Uzun Group of Marcus & Millichap is pleased to present the pricing and financial analysis for OV Living located in Norfolk, VA.
OV Living is a 103-unit multifamily portfolio spanning ten distinct locations across twelve buildings. OV Living’s unit mix includes forty-eight one-bedroom/one-bathroom units, forty-seven two-bedroom/one-bathroom units, and eight two-bedroom/one-and-a-half-bathroom units.
OV Living is a 103-unit multifamily portfolio spanning ten distinct locations across twelve buildings. OV Living’s unit mix includes forty-eight one-bedroom/one-bathroom units, forty-seven two-bedroom/one-bathroom units, and eight two-bedroom/one-and-a-half-bathroom units.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 64,489 SF |
| Number of Properties | 10 | Total Land Area | 2.07 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 10 |
| Individually For Sale | 0 |
| Total Building Size | 64,489 SF |
| Total Land Area | 2.07 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
OV West Beach
1212 W Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 14,339 SF | 1971 | - |
|
OV Palm
1721 E Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 11,200 SF | 1965 | - |
|
OV Bungalow
1265 W Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 10,824 SF | 1973 | - |
|
OV Mirage
1252 W Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 6,480 SF | 1981 | - |
|
OV Cottage
1411 W Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 5,544 SF | 1973 | - |
|
OV Cabana
1261 W Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 4,950 SF | 1972 | - |
|
OV Retreat
2019 E Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 4,300 SF | 1972 | - |
|
OV Coast
1443-1447 W Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 3,618 SF | 1953 | - |
|
OV Harbor
2007 E Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 3,234 SF | 1961 | - |
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Contacts
-
Altay Uzun -
Justin Ferguson -
Jack Carroll -
Myles Lee -
Tracey Mori -
Marcus & Millichap
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