Multifamily
OV Living
1721 E Ocean View Ave, Norfolk, VA 23503
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present the pricing and financial analysis for OV Living located in Norfolk, VA. OV Living is a 103-unit multifamily portfolio spanning ten distinct locations across twelve buildings. OV Living’s unit mix includes forty-eight one-bedroom/one-bathroom units, forty-seven two-bedroom/one-bathroom units, and eight two-bedroom/one-and-a-half-bathroom units.
Norfolk, VA is in the heart of the Hampton Roads metropolitan area, which is home to over 1.7 million people. It’s central location within the region makes it an important economic and cultural hub, attracting a diverse population and providing a stable demand for housing. Norfolk benefits from a robust and diversified economy. It is home to major military installations, including the Naval Station Norfolk, which is the largest naval base in the world. The presence of military personnel and related industries provides a consistent demand for rental properties.
OV Living
Investment Highlights
- HIGH DEMAND BEACH COMMUNITY Direct access to the Chesapeake Bay and consistent occupancy driven by limited waterfront housing
- HIGH BARRIER OF ENTRY FOR NEW MULTIFAMILY SUPPLY Limited land, coastal zoning and elevated costs restrict new development
- INCREDIBLE OPERATIONAL UPSIDE OPPORTUNITY Interior upgrades support rent growth and value appreciation
- EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS & TRANSIT Within 10 minutes from Norfolk International Airport, Naval Station Norfolk and Little Creek Base & 2 minutes from HRBT
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- HIGH DEMAND BEACH COMMUNITY Direct access to the Chesapeake Bay and consistent occupancy driven by limited waterfront housing
- HIGH BARRIER OF ENTRY FOR NEW MULTIFAMILY SUPPLY Limited land, coastal zoning and elevated costs restrict new development
- INCREDIBLE OPERATIONAL UPSIDE OPPORTUNITY Interior upgrades support rent growth and value appreciation
- EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS & TRANSIT Within 10 minutes from Norfolk International Airport, Naval Station Norfolk and Little Creek Base & 2 minutes from HRBT
Investment Overview
Marcus & Millichap is pleased to present the pricing and financial analysis for OV Living located in Norfolk, VA. OV Living is a 103-unit multifamily portfolio spanning ten distinct locations across twelve buildings. OV Living’s unit mix includes forty-eight one-bedroom/one-bathroom units, forty-seven two-bedroom/one-bathroom units, and eight two-bedroom/one-and-a-half-bathroom units. Norfolk, VA is in the heart of the Hampton Roads metropolitan area, which is home to over 1.7 million people. It’s central location within the region makes it an important economic and cultural hub, attracting a diverse population and providing a stable demand for housing. Norfolk benefits from a robust and diversified economy. It is home to major military installations, including the Naval Station Norfolk, which is the largest naval base in the world. The presence of military personnel and related industries provides a consistent demand for rental properties.
Exclusively Listed By
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