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Multifamily

Bay Breeze Apartments

1033 Little Bay Ave, Norfolk, VA 23503

Listing Price: $920,000

Cap Rate
5.70%
Number of Units
5
Price/Unit
$184,000
Price/Gross SF
$65.25
Gross SF
14,100

Investment Overview

The property features four (4) one-bedroom one-bathroom units and one (1) three-bedroom three bathroom unit built in 1969 and situated on 0.36 acres. The property features vinyl wood flooring, ceiling fans, matching appliances, and prime on the water location.

Investment Highlights

  • Located 0.6 miles from the Chesapeake Bay and Ocean View Beaches
  • Located 4.7 miles from Norfolk Naval Base
  • High affordability gap increased the rent-by-necessity demographic combined with a strong 20-34 age renter cohort from the abundant military presence and numerous higher educational institutions

Exclusively Listed By

Listing Price: $920,000

Cap Rate
5.70%
Number of Units
5
Price/Unit
$184,000
Price/Gross SF
$65.25
Gross SF
14,100

Investment Highlights

  • Located 0.6 miles from the Chesapeake Bay and Ocean View Beaches
  • Located 4.7 miles from Norfolk Naval Base
  • High affordability gap increased the rent-by-necessity demographic combined with a strong 20-34 age renter cohort from the abundant military presence and numerous higher educational institutions

Investment Overview

The property features four (4) one-bedroom one-bathroom units and one (1) three-bedroom three bathroom unit built in 1969 and situated on 0.36 acres. The property features vinyl wood flooring, ceiling fans, matching appliances, and prime on the water location.

Exclusively Listed By

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