About This Home
This 0-bedroom, 0-bathroom single family at 1957 E Ocean View Avenue in Norfolk, VA is listed for $700,000. Built in 1962, on a N/A lot.
Key Features
- Built in 1962
Property Details
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.
Monthly Cost Estimate
$3,744/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1957 E Ocean View Avenue
Norfolk, VA 23503
OCEAN VIEW EAST
Property Details
Parking
Heating
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom single family at 1957 E Ocean View Avenue is listed at $700,000. The estimated monthly payment is $3,744 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1962.
This property is listed by Katie Howlett and can be reached at (757) 690-0439.
