1336 Picadilly St 6 Unit Apartment Building For Sale Norfolk, VA 23513

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.