843 Jerome Ave - Apartments FOR SALE


Norfolk, VA 23518- Colonial Heights
$850,000 USD
757-627-8611
843 Jerome Ave, Norfolk, VA for Sale
$850,000 USD
Apartments - FOR SALE
1/2
null | Request Cap Rate

843 Jerome Ave
Norfolk, VA 23518
Colonial Heights


HIGHLIGHTS

  • Value-add opportunity with immediate rent growth and additional income potential through minor interior upgrades
  • Proximity to schools, shopping centers, public transport, and employment hubs
  • Short-term leases offering flexibility for buyer

OVERVIEW

This 8-unit multifamily complex represents a great investment opportunity. With stable income, convenient locations, and significant value-add potential, it combines low vacancy rates, convenient amenities, and appreciation potential. Norfolk is situated in the heart of a region with over 1.8 million people and serves a large community of active-duty personnel and retirees. It is home to the Navy's largest concentration of naval forces. The presence of military personnel and related trades ensures a consistent demand for rental properties.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$166 USD /SF

# OF UNITS

8

PRICE/UNIT

$106,250

CAP RATE

Request Cap Rate

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,003 SF

ZONING

C-C

APN/PARCEL ID

00501475

ASK ABOUT THIS PROPERTY

Martin MurdenS.L. Nusbaum Realty Co.More Info
757-627-8611

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Martin MurdenS.L. Nusbaum Realty Co.More Info
757-627-8611

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