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  1. For Sale
  2. Multifamily
  3. VA
  4. Norfolk
  5. 570 WOV
Pictures of Multifamily property located at 570 W Ocean View Ave, Norfolk, VA 23503 for sales - image #1
Pictures of Multifamily property located at 570 W Ocean View Ave, Norfolk, VA 23503 for sales - image #2
Pictures of Multifamily property located at 570 W Ocean View Ave, Norfolk, VA 23503 for sales - image #3
Pictures of Multifamily property located at 570 W Ocean View Ave, Norfolk, VA 23503 for sales - image #4
Pictures of Multifamily property located at 570 W Ocean View Ave, Norfolk, VA 23503 for sales - image #5
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570 WOV

8-Units Chesapeake Bay Front | $200,000k per unit

Listing Contacts

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Asking Price: $1,600,000
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Address 

570 W Ocean View Ave, Norfolk, VA 23503

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Date Added
Jan 8, 2025
Days on Market
72 days
Time Since Last Update
45 days

Details

Property TypeMultifamily
SubtypeApartment Building
Square Footage6,280
Pro-Forma Cap Rate7.43%
Pro-Forma NOI$118,808
Units8
Year Built1964
Year Renovated2023
Stories2
Lot Size (acres)0.25
Parking (spaces)8
Price/Unit$200,000

Marketing Description

Cushman & Wakefield | Thalhimer is pleased to exclusively offer for sale 570 W.​ Ocean View Avenue (the “Property”), an 8-unit fully furnished long-term rental (LTR) opportunity in West Ocean View.​ Located in Norfolk, Virginia within the Hampton Roads MSA, the Property benefits from strong historical financials and top-notch renovations.​ The Property has most recently been used as a short-term rental but is currently being converted to the more standard LTR.​

The Property is located on the Chesapeake Bay with direct access to the beach, with four of the units facing the Bay.​ All ofthe units have been remodeled within the past two years and come fully-furnished with top-of-the-line finishes.​

Combining the location of the Property on the Bay, high quality finishes and a 7.43% capitalization rate, 570 WOV makes a great investment for the right buyer.​

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Due Diligence

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

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