• Asking Price $2,800,000
  • Estimated Value: $1,806,527

  • 1000 GATES AVE NORFOLK, VA 23507

  • Townhouse or Condo / Resale (MLS)
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Property Details for 1000 GATES AVE, NORFOLK, VA 23507

Features

  • Lot Size: 9004
  • Total Units: 12
  • Stories: 3
  • Heating: Heat Pump

Facts

  • Year Built: 01/01/1918
  • Property ID: 885843536
  • MLS Number: 10543035
  • Parcel Number: 04934000
  • Property Type: Townhouse or Condo
  • County: Norfolk Va
  • Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. For sale: a stunning 12-unit, all-brick apartment building in Norfolk's sought-after Ghent neighborhood. This 3-story building includes 3 one-bedroom, 1-bath units; 6 two-bedroom, 1-bath units; and 3 three-bedroom, 2-bath units, generating a total monthly rent of $19, 775. The property boasts a 6.2% cap rate and underwent complete renovations in 2018, including new kitchens with granite countertops and high-end cabinetry, new bathrooms, and new electrical and plumbing systems. Each unit features a washer/dryer and mini-split HVAC systems, with tenants paying all utilities. The freshly sealed roof ensures low maintenance. Conveniently located near EVMS and multiple military bases, this fully occupied property is one of the best in Ghent. Don't miss this exceptional investment opportunity.

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Property Brokerage: Inlet Realty and Property Management, inc 4453 Shore Dr. Virginia Beach VA 23455
Copyright © 2024 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


All information provided is deemed reliable, but is not guaranteed and should be independently verified.

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