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1000 Gates Avenue, Norfolk, VA 23507

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For Sale

$2,800,000

Estimated Payment

$      /mo. †

APR for 30 years

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  • Apartment
    Property type

  • Over 50 Years Old
    Age

Explore this Property

For sale: a stunning 12-unit, all-brick apartment building in Norfolk's sought-after Ghent neighborhood. This 3-story building includes 3 one-bedroom, 1-bath units; 6 two-bedroom, 1-bath units; and 3 three-bedroom, 2-bath units, generating a total monthly rent of $19,775. The property boasts a 6.2% cap rate and underwent complete renovations in 2018, including new kitchens with granite countertops and high-end cabinetry, new bathrooms, and new electrical and plumbing systems. Each unit features a washer/dryer and mini-split HVAC systems, with tenants paying all utilities. The freshly sealed roof ensures low maintenance. Conveniently located near EVMS and multiple military bases, this fully occupied property is one of the best in Ghent. Don't miss this exceptional investment opportunity.
MLS# 10543035

Courtesy Of Inlet Realty and Property Management, inc

(757) 276-3330

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Appliances
    Dishwasher, Dryer, Garbage Disposer, Range, Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Floor Covering
    Wood
  • Heating System
    Heat Pump

Map and Directions

Directions to 1000 Gates Avenue, Norfolk, VA 23507

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Monthly Payment Breakdown

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  • Hazard Insurance
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  • Private Mortgage Insurance
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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