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

The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the data.  All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.

©2024 REIN. REIN's listings data and information is protected under federal copyright laws.  Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of data and information.  COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.
 
REIN updates its listings on a daily basis. Data last updated: 10/8/2024.
 
Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service.  Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions.
 
Powered byLuxury Presence