www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze property details including ownership and financial history. Share advanced property insights with your clients and teams.
Opportunity Zone

DINWIDDIE PLACE APARTMENTS

Multifamily | 12 Units | $81,250/unit

Listing Contacts

Active

Asking Price: $975,000
Address 

516 Dinwiddie St, Norfolk, VA 23523

Show on Map
Date Added
Sep 11, 2024
Days on Market
191 days
Time Since Last Update
77 days

Details

Property TypeMultifamily
SubtypeApartment Building
Investment TypeStabilized
ClassC
Square Footage9,536
Price/Sq Ft$102.24
Cap Rate8.83%
Pro-Forma Cap Rate9.06%
Occupancy100%
NOI$86,104
Pro-Forma NOI$88,288
Units12
Year Built1912
Buildings1
Stories3
ZoningR-8
Lot Size (sq ft)7,791
Broker Co-OpYes
APN18707400
Price/Unit$81,250
OwnershipFee Simple

Marketing Description

FOR SALE - $975,000 - A Beautiful 3 Story, 12 Unit, Brick Building, with full basement, Value-add opportunity.​  The property is being offered As-Is.​

The Current Tax Assessment is:  $924,100.​

Located in the heart of the Hampton Roads region, DINWIDDIE PLACE APARTMENTS offer a prime investment opportunity for prospective Multifamily/Low-Rise/Garden investors.​  The area boasts proximity to key attractions like Norfolk Naval Shipyard, BAE Systems Norfolk Ship Repair, Colonna’s Shipyard, Virginia Zoo, and Ocean View Beach Park, making it an appealing location for potential Tenants.​  With its convenient access to major transportation routes, including Interstates I464 and I264, and vibrant local amenities, the area presents an exciting prospect for those looking to invest in the thriving Norfolk, VA market.​

NOTE:  The Tenants pay for all of their Utilities (separately metered).​  Landlord pays for common area lighting.​

Introducing an exciting investment opportunity at DINWIDDIE PLACE APARTMENTS, situated at 516-522 Dinwiddie St in Norfolk, VA 23523.​ This prime property is presented by SVN, a global leader in commercial real estate services, known for driving outstanding results for clients.​ Featuring an expert team of over 2,000 advisors, SVN offers a unique Shared Value Network to maximize success.​ Through specialty practices in areas such as multifamily, industrial, and more, SVN advisors collaborate globally to unlock new opportunities for your assets.​ Experience the SVN advantage with the 9.6% Report, showcasing higher returns on properties sold through cooperation.​ By reaching a wider audience, SVN elevates property values and ensures superior outcomes for owners.​ Don't miss out on DINWIDDIE PLACE APARTMENTS - a smart investment choice in a thriving location.​ Contact us today to explore this exceptional opportunity with SVN.​

Investment Highlights

  • Brick 3 story Apartment Building.

  • Tenants pay all utilities.

  • Professionally Managed by SVN LEAD COMMERCIAL.

  • Easy access to multiple Shipyards, Downtown Norfolk/Portsmouth, and Interstates I464 and I264.

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$86,104.00
$7,175.33/mo

Valuation Metrics

0
DSCR
8.83%
Cap Rate
8.83%
ROI
Subscribe to Intelligence
View property history data!
Access historical property and tax details including tax amounts, land value, and more to inform your next opportunity.
Date Event Document Price Price/SF Sold By Sold To
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access
Upgrade for full access

Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts


Similar Properties for Sale

Pictures of Mixed Use, Multifamily property located at 1 E Plume St, Norfolk, VA 23510 for sales - image #1
Unpriced
The Albemarle at 1 E. Plume
2022 Tax Credit Rehab

1 E Plume St Norfolk, VA 23510

Pictures of Multifamily property located at 444 Dinwiddie St, Portsmouth, VA 23704 for sales - image #1
$375,000
444 Dinwiddie St
Multifamily • 4 Units

444 Dinwiddie St Portsmouth, VA 23704

Pictures of Mixed Use, Multifamily, Office, Retail property located at 211 W Freemason St, Norfolk, VA 23510 for sales - image #1
$1,095,000
211 West Freemason Street
Unique owner occupant retail/office opportunity with investment upside

211 W Freemason St Norfolk, VA 23510

Pictures of Multifamily property located at 1705 Chestnut St, Portsmouth, VA 23704 for sales - image #1
Opportunity Zone
$3,425,000
Chestnut Apartments
Multifamily • 32 Units • $107,031/unit

1705 Chestnut St Portsmouth, VA 23704

Pictures of Multifamily property located at 337 W Bute St, Norfolk, VA 23510 for sales - image #1
$3,400,000
Harbour House
Multifamily • NEW 6.58% CAP RATE

337 W Bute St Norfolk, VA 23510

Pictures of Multifamily, Land property located at 1020 High St, Portsmouth, VA 23704, 1028 High St, Portsmouth, VA 23704, 1015 Queen St, Portsmouth, VA 23704, 1013 Queen St, Portsmouth, VA 23704, 400 Hatton St, Portsmouth, VA 23704 for sales - image #1
Unpriced
High St, Queen St, & Hatton St
Multifamily • 50 Units

5 LOCATIONS

Pictures of Multifamily, Land property located at 1520 Prentis Avenue, Portsmouth, VA 23704 for sales - image #1
Opportunity Zone
$849,900
1520 Prentis Avenue
Multifamily • 0 Units

1520 Prentis Avenue Portsmouth, VA 23704

Pictures of Multifamily property located at 2400 Ballentine Blvd, Norfolk, VA 23509, 3218 Flanders Ave, Norfolk, VA 23509, 3224 Flanders Ave, Norfolk, VA 23509 for sales - image #1
Unpriced
8-Unit Multifamily Portfolio
Multifamily • 8 Units • $119,500/unit

3 LOCATIONS

Pictures of Multifamily, Land property located at 344 Maryland Avenue, Portsmouth, VA 23707 for sales - image #1
Opportunity Zone
$500,000
344 Maryland Avenue
Multifamily • 0 Units

344 Maryland Avenue Portsmouth, VA 23707

Pictures of Multifamily property located at 9619 Cape View Ave, Norfolk, VA 23503 for sales - image #1
$700,000
9619 Cape View Avenue
Multifamily • 6 Units • $166,667/unit

9619 Cape View Ave Norfolk, VA 23503

Pictures of Multifamily property located at 570 W Ocean View Ave, Norfolk, VA 23503 for sales - image #1
$1,600,000
570 WOV
8-Units Chesapeake Bay Front • $200,000k per unit

570 W Ocean View Ave Norfolk, VA 23503

See more properties for sale in Norfolk
See More
See More Similar Properties
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off? Report
For assistance, reach out to our support team at [email protected] or call 888.273.0423 .