601 Graydon Ave | Norfolk, VA 23507
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- LoopNet Team
601 Graydon Ave
Norfolk, VA 23507
Multifamily Property For Sale
·
15 Units
Investment Highlights
- Investors are presented the opportunity to step into a fully-renovated historic asset in Ghent with little to no capex needs. Day 1 steady cash flow.
- The current owners recently placed new agency debt on the asset at a rate of 5.86% with 5 years of Interest Only payments over the 10 year term.
- Being fully renovated and stabilized at 100%, investors are presented an opportunity to step into a year 1 cash on cash return north of 6%.
- Ownership spent $700,000 in 2022/23 on renovations throughout the property. They also just completed a roof replacement valued at $60,000.
Property Facts
| No. Units | 15 | Lot Size | 0.24 AC |
| Property Type | Multifamily | Building Size | 10,454 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1910/2023 |
| Building Class | B | ||
| Zoning | HCG2 | ||
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.24 AC |
| Building Size | 10,454 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2023 |
| Zoning | HCG2 |
Amenities
Unit Amenities
- Balcony
- Washer/Dryer
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,512 | 677 |
| 2+1 | 9 | $1,635 | 771 |
Property Taxes
| Parcel Number | 41794600 | Improvements Assessment | $1,417,300 |
| Land Assessment | $259,600 | Total Assessment | $1,676,900 |
Property Taxes
Parcel Number
41794600
Land Assessment
$259,600
Improvements Assessment
$1,417,300
Total Assessment
$1,676,900
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