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9324 1st View St
Norfolk, VA 23503
Multifamily Property For Sale
·
18 Units
INVESTMENT HIGHLIGHTS
- 18 Units: All One-Bedroom & One-Bathroom
- Operational Value-Add Opportunity
- Prime Location: Within 1 Miles of Ocean View Beach
- Day 1 Positive Cash Flow & Positive Leverage
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the offering memoran¬dum for 9324 1st View Street located in Norfolk, VA.
The property consists of eighteen units, all one-bedroom and one-bathroom. 9324 1st View Street was built in 1978 and situated on 0.40 acres.
The property consists of eighteen units, all one-bedroom and one-bathroom. 9324 1st View Street was built in 1978 and situated on 0.40 acres.
PROPERTY FACTS
| Price Per Unit | $138,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 7.93% | Building Size | 9,896 SF |
| Gross Rent Multiplier | 7.84 | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.5/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MF-NS | ||
| Price Per Unit | $138,889 |
| Sale Type | Investment |
| Cap Rate | 7.93% |
| Gross Rent Multiplier | 7.84 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 9,896 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | MF-NS |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Carpet
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | - | - |
PROPERTY TAXES
| Parcel Number | 46564000 | Improvements Assessment | $1,186,200 |
| Land Assessment | $193,400 | Total Assessment | $1,379,600 |
PROPERTY TAXES
Parcel Number
46564000
Land Assessment
$193,400
Improvements Assessment
$1,186,200
Total Assessment
$1,379,600
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