831 W Ocean View AVE, Norfolk, VA 23503
831 W Ocean View AVE, Norfolk, VA 23503
831 W Ocean View AVE, Norfolk, VA 23503
831 W Ocean View AVE, Norfolk, VA 23503
831 W Ocean View AVE, Norfolk, VA 23503
831 W Ocean View AVE, Norfolk, VA 23503
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Rachel Lewis

Rachel Lewis

+1(757) 714-6810
$ 2,550,000
Est. payment | /mo
Save
$ 2,550,000
Est. payment | /mo
Save

Key Details

Property Type Multi-Family

Listing Status Contingent

Purchase Type For Sale

Subdivision Willoughby Beach

MLS Listing ID 10620197

HOA Y/N No

Year Built 1965

Annual Tax Amount $26,862

Contingent Feasibility Study/Due Diligence

Property Description

831 W Ocean View Ave in Norfolk offers a rate 16-unit, 2BR/1BA multifamily opportunity featuring true Class A finishes throughout. Investors will appreciate the premium unit quality and strong tenant appeal in the Ocean View submarket, minutes to the beach, dining and major commuter routes. The property has already been converted to condominiums, creating multiple exit strategies--operate as a stabilized rental, execute a phased or bulk condo sell-ff, or pursue a hybrid approach to maximize returns. Offered at a never-before-seen price of $2,550,000, this asset presents an exceptional basis for a high-finish, boutique portfolio addition or 1031 exchange replacement. Request offering memorandum, financials and condo documentation from broker. Tours by appointment only--please do not disturb residents.

Location

State VA

County Norfolk

Area 13 - North Norfolk

Zoning R-12

Interior

Hot Water Electric

Heating Electric, Heat Pump

Cooling Central Air, Heat Pump

Flooring Vinyl, Wood

Exterior

Parking Features Lot

Utilities Available City Sewer, City Water, Electric

Roof Type Asphalt Shingle

Building

Story 2.0000

Foundation Crawl

Schools

Elementary Schools Little Creek Elementary

Middle Schools Norview Middle

High Schools Granby

Others

Senior Community No

Ownership Simple

Disclosures Disclosure Statement

Special Listing Condition Disclosure Statement

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Listed by Inlet Realty

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831 W Ocean View AVE