400-402 Fairfax Ave
Norfolk, VA 23507
Multifamily Property For Sale
·
6 Units
Property Facts
| No. Units | 6 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 5,900 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Single-Family Home | Year Built | 1910 |
| Building Class | C | ||
| Zoning | HC-G1 - Ghent Historic and Cultural Conservation District | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,900 SF |
| No. Stories | 2 |
| Year Built | 1910 |
| Zoning | HC-G1 - Ghent Historic and Cultural Conservation District |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Washer/Dryer
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Freezer
Site Amenities
- Furnished Units Available
About 400-402 FAIRFAX AVE , NORFOLK, VA 23507
Marcus & Millichap has been selected to exclusively market for sale the Fairfax Apartments, a 6-unit apartment property located in the historic Ghent neighborhood of Norfolk, VA. The Fairfax Apartments consist of 6 units across one building built in 1910 and situated on 0.16 acres. There are four (4) 875 sqft one-bedroom one-bathroom units and two (2) 1,200 sqft two-bedroom one-bathroom units. Located in Ghent, Norfolk, the property’s prime location enjoys the benefits of not only Hampton Roads liveliest metro, but also the most prominent arts and culture district in the entire MSA. The Fairfax Apartments also provide quick access to Downtown Norfolk and Norfolk’s Waterside District. The Fairfax Apartments have a current occupancy of 100% while the Ghent submarket has shown 95.5% occupancy for the past year. With a focus on healthcare, professional, and business services sectors, Ghent is less susceptible to the volatility in the military and shipping industries that increased vacancies throughout the Hampton Roads.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 750 |
| 2+1 | 2 | - | 1,000 |
| 3+1 | 2 | - | 1,200 |
Property Taxes
| Parcel Number | 20507040 | Improvements Assessment | $510,300 |
| Land Assessment | $184,200 | Total Assessment | $694,500 |
Property Taxes
