Norfolk Portfolio of properties for Sale - Norfolk-ODU/Ghent
Contact Mary Elizabeth Beck at (757) 816-0804 or David Corliss at (757) 285-2259 for more information.
Rare opportunity to acquire a professionally maintained portfolio of five income-producing single-family rental homes strategically located near Old Dominion University. Situated on seven total parcels, the offering includes two additional lots that provide a dedicated five-space parking area serving two of the homes—a valuable amenity in this high-demand student housing market.
The portfolio consists of two homes built in 2018, one in 2020, one in 2008, and one in 2005, offering investors a collection of newer assets with reduced long-term maintenance requirements. All five homes are fully leased to ODU student tenants through Summer 2027, generating a combined gross rental income of $214,800 annually. Every lease is backed by parental guarantors/co-signers, providing an additional layer of income security.
Tax records identify four of the homes as four-bedroom residences and one as a three-bedroom residence, and the recorded bathroom counts differ for some of the properties. However, all five homes currently feature three full bathrooms, and each includes bonus rooms that provide flexible use as additional bedrooms, study spaces, home offices, or flex rooms.
The properties have recently undergone tenant turnover and have been refreshed with new interior paint, along with selective new carpeting and vinyl flooring, minimizing anticipated near-term capital expenditures.
Located in one of Hampton Roads' most established off-campus housing markets, the portfolio offers immediate, predictable cash flow, consistent occupancy, diversified income across five separate assets, and the operational efficiencies of portfolio ownership. Seller prefers to sell the properties as a package. Financial statements, rent roll, lease summaries, and additional property information are available upon request.
Don't miss this turnkey student housing investment consisting of five fully leased single-family rental homes (seven total parcels) located near Old Dominion University, generating $214,800 in annual gross rental income with leases secured through Summer 2027.
-5 Single-Family Rental Homes | 7 Total Parcels
-Located Near Old Dominion University
-100% Occupied with ODU Student Tenants
-Leased Through Summer 2027
-Gross Rental Income: $17,900/Month ($214,800 Annually)
-Parental Guarantors/Co-Signers on Every Lease
-Two Homes Built in 2018, One in 2020, One in 2008, One in 2005
-Two Homes with Dedicated 5-Space Off-Street Parking Area Included via Two Additional Parcels
-Recent Interior Paint, New Carpet & Vinyl Flooring in Select Homes
-Seller Prefers Portfolio Sale
-Financials, Rent Roll & Lease Summaries Available Upon Request
Contact Mary Elizabeth Beck at (757) 816-0804 or David Corliss at (757) 285-2259 for more information.
