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$700,000
Est. payment /mo
UPDATED:
Key Details
Property Type Multi-Family, Condo
Listing Status Active
Purchase Type For Sale
Subdivision Berkley
MLS Listing ID 10585267
HOA Y/N No
Year Built 1919
Annual Tax Amount $8,541
Property Description
Investor-ready 6-unit, 6,867 SF apartment building in Norfolk with updated systems and strong income potential. Each 2–3BR/1BA unit is approx. 1,040 SF with living room, kitchen, and laundry. All units have been renovated—Unit 3 just completed and is move-in ready. Recent upgrades include a new roof (2021), six HVAC units, three tankless water heaters, LED-lit common areas, and updated windows. Crawlspace/basement features a new vapor barrier and is in excellent condition. Property includes balconies, storage, and separate meters. Current rent is $5,500/mo with full market potential of $6,600/mo once fully occupied. Units 4–6 have converted sitting rooms offering 3BR layouts to boost ROI. Professional property management currently in place and available for seamless ownership transition. Convenient to downtown, military bases, and transit. Turnkey investment offering strong cash flow and long-term stability in a growing rental market.
Location
State VA
County Norfolk
Area 12 - East Norfolk
Zoning SF-T
Interior
Hot Water Gas
Heating Heat Pump W/A
Cooling Central Air
Flooring Carpet, Ceramic, Laminate/LVP, Vinyl
Exterior
Parking Features Street
Utilities Available City Sewer, City Water, Electric, Gas
Roof Type Poly Skin
Building
Story 3.0000
Foundation Basement, Crawl
Schools
Elementary Schools St. Helena Elementary
Middle Schools Blair Middle
High Schools Lake Taylor
Others
Senior Community No
Ownership Simple
Disclosures Disclosure Statement
Special Listing Condition Disclosure Statement
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Listed by Seaside Realty