Active
1000 Gates AVE
Norfolk VA, 23507
$2,800,000
Active
Residential
Built in 1918
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.
10543035
MLSⓇ ID
July 17, 2024
Listed
October 8, 2024
Updated
Map
1000 Gates AVE
Norfolk VA, 23507
Interior Features
Total Stories
3
Interior Features
Ceramic Tile, Wood
Appliances
Electric Water Heater, Dishwasher, Dryer, Disposal, Range, Refrigerator, Washer
Laundry Description
Main Level
Floor Description
Ceramic Tile, Wood
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Heat Pump
Exterior/Building Features
Sewer
Public Sewer
School Information
High School
Maury
Elementary School
Walter Herron Taylor Elementary
Other Property Details
Area Name
GHENT
Taxes
$21,240
Tax Frequency
Annually
Garage
No
Parking
Off Street, On Street
View
No
County
Norfolk
Water Source
Public
Pool
No
Courtesy of Inlet Realty
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