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Multifamily

East Ocean View Portfolio

3515 Pleasant Ave, Norfolk, VA 23518

Listing Price: $2,200,000

Cap Rate
6.01%
Number of Units
32
Price/Unit
$68,750
Price/Gross SF
$93.46
Gross SF
23,540

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the pricing and financial analysis for the East Ocean View Portfolio located in Norfolk, VA. The property features thirty-two (32) two-bedroom one-bathroom units in four buildings built between 1974 and 1988. Amenities include linoleum flooring, carpeting, matching appliances, spacious closets, baseboard heating, and an on-site laundry facility at select properties. 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

  • 32 Two-Bedroom One-Bathroom Units
  • Significant Rent Growth Opportunity
  • Prime Candidate for Apartment Interior Renovations
  • Within 1 Mile from the Chesapeake Bay & Ocean View Beaches
  • 16 Minutes to Norfolk Naval Station
  • On-Site Laundry Facility

Exclusively Listed By

Multifamily

East Ocean View Portfolio

Listing Price: $2,200,000

Cap Rate
6.01%
Number of Units
32
Price/Unit
$68,750
Price/Gross SF
$93.46
Gross SF
23,540

Investment Highlights

  • 32 Two-Bedroom One-Bathroom Units
  • Significant Rent Growth Opportunity
  • Prime Candidate for Apartment Interior Renovations
  • Within 1 Mile from the Chesapeake Bay & Ocean View Beaches
  • 16 Minutes to Norfolk Naval Station
  • On-Site Laundry Facility

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the pricing and financial analysis for the East Ocean View Portfolio located in Norfolk, VA. The property features thirty-two (32) two-bedroom one-bathroom units in four buildings built between 1974 and 1988. Amenities include linoleum flooring, carpeting, matching appliances, spacious closets, baseboard heating, and an on-site laundry facility at select properties. 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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