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750 W Princess Anne Rd
Norfolk, VA 23517
The Baylor Apartments · Multifamily Property For Sale
·
22 Units
PROPERTY FACTS
| No. Units | 22 | Building Size | 19,000 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1921 |
| Building Class | C | Cross Streets | Colley Ave |
| Lot Size | 0.25 AC | ||
| Zoning | HC-G2 | ||
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 19,000 SF |
| Average Occupancy | 95% |
| No. Stories | 4 |
| Year Built | 1921 |
| Cross Streets | Colley Ave |
| Zoning | HC-G2 |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
ABOUT 750 W PRINCESS ANNE RD , NORFOLK, VA 23517
Marcus & Millichap has been selected to exclusively market for sale the Baylor Apartments, a 22-unit multifamily property located in the historic Ghent neighborhood of Norfolk, VA. The Baylor Apartments consists of 22 units in one four-story building built in 1921 and situated on 0.25 acres. There are sixteen (16) 806 sqft one-bedroom one-bathroom units, four (4) 925 sqft two-bedroom one-bathroom units, and two (2) 1,200 sqft three-bedroom one-and-a-half bathroom units. Select units feature hardwood flooring, stainless steel appliances, updated bathrooms, and tile flooring. 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 Baylor Apartments also provide quick access to Downtown Norfolk and Norfolk’s Waterside District. The Baylor Apartments have a current occupancy of 90.9% 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 | 16 | - | 750 |
| 2+1 | 4 | - | 1,000 |
| 3+2 | 2 | - | 1,200 |
PROPERTY TAXES
| Parcel Number | 02729700 | Improvements Assessment | $1,970,800 |
| Land Assessment | $257,200 | Total Assessment | $2,228,000 |
PROPERTY TAXES
