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831 W Ocean View Ave 16 Unit Apartment Building $2,850,000 ($178,125/Unit) 6.19% Cap Rate Norfolk, VA 23503
EXECUTIVE SUMMARY
Well maintained property. Great location just across from the beach and backs up to a park on the water. 2 buildings of Garden Style townhomes with a court yard in the middle each unit with its own spacious front porch. All units are approximately 800 sqft. Each unit is 2 bed 1 bath and some 2 bed 1.5 baths. Each unit has washer and dryer in unit and central heat and air. All units hardwood flooring and or LVP flooring through out. Large parking lot.
PROPERTY FACTS
| Price | $2,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $178,125 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.59 AC |
| Cap Rate | 6.19% | Building Size | 13,120 SF |
| No. Units | 16 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1965 |
| Zoning | R-12 | ||
| Price | $2,850,000 |
| Price Per Unit | $178,125 |
| Sale Type | Investment |
| Cap Rate | 6.19% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 13,120 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1965 |
| Zoning | R-12 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Tub/Shower
- Porch
SITE AMENITIES
- Picnic Area
- Playground
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | - | - |
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831 W Ocean View Ave
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