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Montario Corprew

montario@corprewrealtygroup.com +1(757) 771-6343

$ 700,000

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1957 E Ocean View AVE Norfolk, VA 23503

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Key Details

Property Type Multi-Family, Condo

Listing Status Active

Purchase Type For Sale

Subdivision Ocean View East

MLS Listing ID 10643752

HOA Y/N No

Year Built 1962

Annual Tax Amount $6,540

Property Description

Exceptional investment opportunity in Norfolk's sought-after Cottage Line neighborhood of Ocean View, just across the street from the Chesapeake Bay. This all-brick, 3,175 sq. ft. apartment building features five units, including four 1-bedroom, 1-bath apartments and one 2-bedroom, 2-bath apartment. Situated on a high-elevation lot, the property does not require flood insurance and includes a detached garage generating additional rental income, plus an off-street parking lot at 1957 E. Ocean View Ave. Each unit is separately metered for electricity, with tenants paying their own electric. When fully leased, the property generates $5,775 per month in apartment rental income, plus an additional $600 per month from the detached garage. Unit E has been updated with new luxury vinyl plank flooring, an updated kitchen, and a refreshed bathroom, and is currently vacant for immediate showings. Occupied units require a minimum of 24 hours' notice.

Location

State VA

County Norfolk

Area 13 - North Norfolk

Interior

Hot Water Gas

Heating Nat Gas

Cooling Window/Wall

Flooring Laminate/LVP

Exterior

Parking Features Lot, Close to Mass Transit, Multi Car, Off Street

Garage Spaces 400.0

Utilities Available City Sewer, City Water, Electric, Gas

Roof Type Poly Skin

Building

Story 2.0000

Foundation Slab

Schools

Elementary Schools Bay View Elementary

Middle Schools Azalea Gardens Middle

High Schools Norview

Others

Senior Community No

Ownership Simple

Disclosures Disclosure Statement

Special Listing Condition Disclosure Statement

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Listed by BHHS RW Towne Realty

NEARBY SCHOOLS & PROPERTIES

Montario Corprew

Principal Broker, REALTOR® | License ID: 0225210186

+1(757) 771-6343

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Montario Corprew

1957 E Ocean View AVE Norfolk, VA 23503

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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1957 E Ocean View AVE