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1000 Gates Ave

Norfolk, VA 23507
  • $2,800,000
  • STATUS: Active
  • ON SITE: 85 Days
  • ID#: 10543035
UPDATED: 123 min ago
$2,800,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
West Ghent
Type:
Multi-Family
Built:
1918
Area:
11 - West Norfolk

School Information

Elementary School:
Walter Herron Taylor Elementary
Middle School:
Blair Middle
High School:
Maury
School Ratings & Info

Description

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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www.judyreedrealty.com/homes/152695862
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1000 Gates Ave Norfolk, VA 23507

  • Price: $2,800,000
  • Status: Active
  • On Site: 85 Days
  • Updated: 123 min ago
  • ID#: 10543035
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1918
Built
Neighborhood:
West Ghent
Area:
11 - West Norfolk
Elementary School:
Walter Herron Taylor Elementary
Middle School:
Blair Middle
High School:
Maury
Property Description
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.
Exterior Features

Construction Other Exterior Siding Brick Foundation Type Basement Garage YN No Parking Off StreetStreet Roof Poly Skin

Interior Features

Accessibility Level FlooringMain Floor Laundry Cooling Central Air Dishwashers 12 Disposals 12 Dryers 12 Flooring Type CeramicWood Furnished YN No Heating Heat Pump Ranges 12 Refrigerators 12 Washers 12 Water Heater Type Electric

Property Features

Apartment Type Other Contingency Exists Non Contingent Disclosure Disclosure Statement Neighborhood Name GHENT Ownership Type Simple Possession N/A Tax Amount Approx 21240 Utilities City SewerCity WaterElectricTelephone Avail

Real Estate Information Network logoListing provided courtesy of Inlet Realty: 757-276-3330
© 2024 REIN, Inc. Information Deemed Reliable But Not Guaranteed.


Real Estate Information Network logo© The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN, therefore, makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent. © 2024 REIN. REIN's listings Data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of Data and information. The Duplicate Listings Disclaimer is as follows: Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW. REIN updates its listings on a daily basis. Data last updated: 2024-10-10T23:35:40.843.
 
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