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Matt Marek

matt@valuxhomes.com +1(757) 705-3512

$ 1,500,000

Est. payment | -/mo

Save

$ 1,500,000

Est. payment | -/mo

Save

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Willoughby Beach

MLS Listing ID 10616857

HOA Y/N No

Year Built 1979

Annual Tax Amount $13,123

Property Description

Value-add 12-unit multifamily opportunity: (12) 2-bedroom apartments at 1315 Little Bay Ave with an all-2BR unit mix. Minutes to local beaches with quick access to the interstate and major military bases. Solid brick exterior with strong curb appeal and excellent interstate visibility in a high-traffic corridor. Rents are currently below market, while unit turnovers are in progress—creating a near-term runway to renovate, raise rents, and capture upside without betting on heavy lease-up (vacancy has remained low). On-site common-area laundry adds convenience and potential ancillary income. Pro forma upside through rent lifts and continued unit refreshes. Ideal for an investor seeking stable in-place cash flow plus straightforward value-creation levers.

Location

State VA

County Norfolk

Area 13 - North Norfolk

Zoning R-12

Interior

Hot Water Electric

Heating Basebd, Heat Pump W/A

Cooling Window/Wall

Flooring Carpet, Laminate/LVP

Exterior

Parking Features Lot, Off Street, Street

Utilities Available City Sewer, City Water, Electric

Roof Type Asphalt Shingle

Building

Story 2.0000

Foundation Slab

Schools

Elementary Schools Ocean View Elementary

Middle Schools Northside Middle School

High Schools Granby

Others

Senior Community No

Ownership Simple

Disclosures Disclosure Statement

Special Listing Condition Disclosure Statement

Listed by Inlet Realty

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(757) 705-3512

matt@valuxhomes.com

1545 Crossways Blvd. Ste 250 #242, Chesapeake, VA, 23320, USA

Learn More About LPT Realty

1315 Little Bay AVE Norfolk, VA 23503