Listed by Marcus & Millichap - Hampton Roads
$2,675,000
171-179 W Balview Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,600
Units 20
Cap Rate 7.51%
NOI $200,848
Pro-Forma Cap Rate 7.87%
Pro-Forma NOI $210,576
Price per SqFt $197
Class C
Year Built 1987
Buildings 2
Stories 2
Acreage 0.240
Value Add, Separate Utilities, Walking Distance to the Beach
Marketing description
Marcus & Millichap is pleased to present the offering memorandum for 171-179 W Balview Avenue in Norfolk, VA.
The property consists of twenty units total. There are eight, one-bedroom and one-bathroom units and twelve, two-bedroom one-bathroom units across two, two-story buildings built in 1987 and situated on +/- 0.24 acres.
Investment highlights
- 20 Units: A Mix of One- & Two-Bedroom Units
- Less Than Two Blocks from Ocean View Beach
- Strategically Located by the Only Shopping Center in Ocean View
- Tenants Pay All Their Own Utilities
- Immediate Upside: All Units are Below Market Rents
Listing Contacts
Listed by Marcus & Millichap - Hampton Roads
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$200,848.00
$16,737.33/mo
Valuation Metrics
0
DSCR
7.51%
Cap Rate
7.51%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
