171-179 W Balview Ave - Apartments FOR SALE


Norfolk, VA 23503- West Ocean View
$2,699,000 USD
757-639-7989
171-179 W Balview Ave, Norfolk, VA for Sale
$2,699,000 USD
Apartments - FOR SALE
1/4
null | 6.75% Cap Rate

171-179 W Balview Ave
Norfolk, VA 23503
West Ocean View


HIGHLIGHTS

  • TRANSIT ORIENTED Easy access to I-64, I-264, I-564, and Granby Street
  • EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS
  • Within 10 minutes from Norfolk International Air - port, IKEA, and Simon Premium Outlet Mall

OVERVIEW

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. Norfolk, VA is in the heart of the Hampton Roads metropolitan area, which is home to over 1.7 million people. It’s central location within the region makes it an important economic and cultural hub, attracting a diverse population and providing a stable demand for housing. Norfolk benefits from a robust and diversified economy. It is home to major military installations, including the Naval Station Norfolk, which is the largest naval base in the world. The presence of military personnel and related industries provide a consistent demand for rental properties.

FOR SALE DETAILS

PRICE

$2,699,000 USD

PRICE/SF

$212 USD /SF

# OF UNITS

20

PRICE/UNIT

$134,950

CAP RATE

6.75%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

R-12

APN/PARCEL ID

04095180

ASK ABOUT THIS PROPERTY

Altay UzunMarcus & MillichapMore Info
757-639-7989

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Altay UzunMarcus & MillichapMore Info
757-639-7989

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.