516 Dinwiddie St | Norfolk, VA 23523
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- LoopNet Team
516 Dinwiddie St
Norfolk, VA 23523
Multifamily Property For Sale
·
12 Units
Investment Highlights
- 516-522 Dinwiddie Street is a fully occupied, 12-unit complex offering one-bedroom, one-bath units at 675, 825, and 850 square feet.
- Property is nestled within Norfolk’s Opportunity Zone and ideally located in the proximity of 2 shipyards, presenting strong renter demand.
- Tenants pay for all utilities, enabling great cash flow – currently boasting an impressive 9.31% cap rate and 7.82 Gross Rent Multiplier.
- The complex is professionally managed and is offered to the market with low deferred maintenance.
Property Facts
| No. Units | 12 | Lot Size | 0.18 AC |
| Property Type | Multifamily | Building Size | 9,536 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 3 |
| Building Class | C | Year Built | 1912 |
| Zoning | R-8 - Residential | ||
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 9,536 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1912 |
| Zoning | R-8 - Residential |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Ceiling Fans
- Kitchen
- Double Pane Windows
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 675 - 850 |
Property Taxes
| Parcel Number | 18707400 | Improvements Assessment | $981,500 |
| Land Assessment | $39,000 | Total Assessment | $1,020,500 |
Property Taxes
Parcel Number
18707400
Land Assessment
$39,000
Improvements Assessment
$981,500
Total Assessment
$1,020,500
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