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Multifamily

Flats at Norview

6255 Alexander St, Norfolk, VA 23513

Listing Price: $1,400,000

Cap Rate
7.16%
Number of Units
18
Price/Unit
$77,778
Price/Gross SF
$118.64
Gross SF
11,800

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive Offering Memorandum for the Flats at Norview located in Norview neighborhood of Norfolk, VA. The property consists of eight (8) one-bedroom one-bathroom units and ten (10) two-bedroom one-bathroom units in two two-story buildings constructed in 1977 and situated on 0.4623 acres. The tenants pay their electricity utility and the owner covers the water, sewer, trash, and common area electricity utilities. The property’s central location affords residents easy access to Hampton Roads’ top employers. The Hampton Roads economy is heavily diverse home to the fastest growing port on the East Coast, two Fortune 500 companies, low business costs, global access, and a robust talent pipeline. Hampton Roads is well known for its ports, shipyards, maritime related industries, aerospace, food and beverage processing, and is home to every branch of the U.S. Armed Forces. Hampton Roads seven universities and three community colleges graduate +/- 17,000 students annually, consistently supplying a highly skilled workforce.

Investment Highlights

  • 18 Units: Mix of One and Two Bedroom Units
  • 0.5 Miles from Norview Elementary School
  • Prime Candidate for Interior Upgrade Initiative
  • Easy Access to I-64, I-264, I-564, and Granby Street
  • 2.3 Miles from Norfolk International Airport
  • 4 Miles from IKEA & Simon Norfolk Premium Outlet Mall

Exclusively Listed By

Listing Price: $1,400,000

Cap Rate
7.16%
Number of Units
18
Price/Unit
$77,778
Price/Gross SF
$118.64
Gross SF
11,800

Investment Highlights

  • 18 Units: Mix of One and Two Bedroom Units
  • 0.5 Miles from Norview Elementary School
  • Prime Candidate for Interior Upgrade Initiative
  • Easy Access to I-64, I-264, I-564, and Granby Street
  • 2.3 Miles from Norfolk International Airport
  • 4 Miles from IKEA & Simon Norfolk Premium Outlet Mall

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive Offering Memorandum for the Flats at Norview located in Norview neighborhood of Norfolk, VA. The property consists of eight (8) one-bedroom one-bathroom units and ten (10) two-bedroom one-bathroom units in two two-story buildings constructed in 1977 and situated on 0.4623 acres. The tenants pay their electricity utility and the owner covers the water, sewer, trash, and common area electricity utilities. The property’s central location affords residents easy access to Hampton Roads’ top employers. The Hampton Roads economy is heavily diverse home to the fastest growing port on the East Coast, two Fortune 500 companies, low business costs, global access, and a robust talent pipeline. Hampton Roads is well known for its ports, shipyards, maritime related industries, aerospace, food and beverage processing, and is home to every branch of the U.S. Armed Forces. Hampton Roads seven universities and three community colleges graduate +/- 17,000 students annually, consistently supplying a highly skilled workforce.

Exclusively Listed By

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