2500 Leo Street, Norfolk, VA 23504

Norfolk
Local realty services provided by:ERA Real Estate Professionals
2500 Leo Street,Norfolk, VA 23504
$2,550,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Condominium
  • Active
Listed by: christian phillips
Office: inlet realty
MLS#:10610417
Source:VA_REIN

Price summary

  • Price:$2,550,000

About this home

2500 Leo Street is a rare opportunity to acquire a 24-unit multifamily asset in Norfolk with true value-add upside and plenty of “meat on the bone.” The property consists of twenty-four (24) two-bedroom, one-bath apartments, an attractive and highly rentable unit mix for the local tenant base. Current operations leave room for a new owner to reposition the asset through targeted renovations, improved management, and strategic rent increases to better align with market rates. Investors will appreciate the straightforward layout, consistent floorplans, and the ability to add value through interior upgrades, utility optimization, and enhanced resident amenities. With scale in a single location and strong demand for well-located two-bedroom rentals in Norfolk, 2500 Leo Street is ideal for both regional and out-of-area investors seeking stable cash flow today with meaningful upside over time. This is a solid value-add multifamily play ready for its next owner to take it to the next level

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Home facts

  • Year built:1969
  • Listing ID #:10610417
  • Updated:July 02, 2026 at 09:20 AM

Rooms and interior

  • Flooring:Laminate/LVP
  • Kitchen Description:24 Range(s), 24 Refrigerator(s)

Heating and cooling

  • Cooling:Window/Wall
  • Heating:Electric, Radiant

Structure and exterior

  • Roof:Asphalt Shingle
  • Year built:1969
  • Construction Materials:Brick
  • Foundation Description:Slab
  • Levels:2 Story

Schools

  • High school:Maury
  • Middle school:Norview Middle
  • Elementary school:Lindenwood Elementary

Utilities

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

Finances and disclosures

  • Price:$2,550,000
  • Tax amount:$23,919

Parking

  • Parking description:Lot, Off Street, Street
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