1957 E Ocean View Avenue, Norfolk, VA 23503

Norfolk
Local realty services provided by:ERA Real Estate Professionals
1957 E Ocean View Avenue,Norfolk, VA 23503
$700,000
Virtual Tour
  • - Beds
  • - Baths
  • - sq. ft.
  • Condominium
  • Pending
Listed by: katie howlett, ashley link
Office: bhhs rw towne realty
MLS#:10643752
Source:VA_REIN

Price summary

  • Price:$700,000

About this home

Exceptional investment opportunity in Norfolk’s Cottage Line neighborhood of Ocean View, just across the street from the Chesapeake Bay. This all-brick, 3,175-square-foot building offers five apartments: four 1-bedroom/1-bath units and one 2-bedroom/2-bath unit, plus a detached income-producing garage and off-street parking. Current gross rental income is $6,475/month ($77,700/year), with potential for additional growth as units turn over. Unit E was recently renovated with an updated kitchen and bath, luxury vinyl plank flooring and fresh paint, providing a proven model for future improvements. Each apartment is separately metered for electricity, paid by the tenants. Owner pays gas, water, sewer and trash, averaging approximately $500–$700/month. Unit C has washer/dryer hookups. High-elevation lot with no flood insurance required. All apartments and the garage are currently occupied. Commercial financing is typically required for properties with five or more units.

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Home facts

  • Year built:1962
  • Listing ID #:10643752
  • Updated:October 22, 2026 at 08:31 AM

Rooms and interior

  • Flooring:Laminate/LVP
  • Kitchen Description:5 Range(s), 5 Refrigerator(s)

Heating and cooling

  • Cooling:Window/Wall
  • Heating:Natural Gas

Structure and exterior

  • Roof:Poly Skin
  • Year built:1962
  • Construction Materials:Brick
  • Foundation Description:Slab
  • Levels:2 Story

Schools

  • High school:Norview
  • Middle school:Azalea Gardens Middle
  • Elementary school:Bay View Elementary

Utilities

  • Water:City Water, Water Heater - Gas
  • Sewer:City Sewer

Finances and disclosures

  • Price:$700,000
  • Tax amount:$6,540

Parking

  • Parking description:Lot, Multi Car, Off Street
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