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Salem Street Portfolio 2 Multifamily Properties Offered at $3,552,814 CAD in Norfolk, VA
Investment Highlights
- 18 Units: All One-Bedroom & One-Bathroom
- Walking Distance to the Beach: Less Than 0.5 Miles from Willoughby Beach
- Assumable Agency Debt
- Fully Renovated Units: Interior Units Have Brand New Kitchens, New Flooring Throughout, Fresh Paint & On-Site Washer & Dryer
Executive Summary
Marcus & Millichap is pleased to present the offering memorandum for Salem Street Portfolio located at 9631 & 9635 Salem Street and 963 W Ocean View Avenue in Norfolk, VA.
The property consists of eighteen units. Salem Street Portfolio is all one-bedroom and one-bathroom units. The property was built in 1955 and situated on 2.83 ac.
The property consists of eighteen units. Salem Street Portfolio is all one-bedroom and one-bathroom units. The property was built in 1955 and situated on 2.83 ac.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2025) 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 - 2025) 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
| Price | $3,552,814 CAD | Number of Properties | 2 |
| Price / SF | $164.29 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.64% | Total Building Size | 21,625 SF |
| Sale Type | Investment | Total Land Area | 0.58 AC |
| Status | Active |
| Price | $3,552,814 CAD |
| Price / SF | $164.29 CAD / SF |
| Cap Rate | 6.64% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 21,625 SF |
| Total Land Area | 0.58 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
OV Escape
963 W Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 14,011 SF | 1970 | - |
| 9631 Salem St, Norfolk, VA 23503 | Multifamily | 7,614 SF | 1970 | - |
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Contacts
-
Justin Ferguson -
Altay Uzun -
Jack Carroll -
Myles Lee -
Joshua Bagley -
Marcus & Millichap
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Salem Street Portfolio
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