1000 GATES AVE
NORFOLK, VA 23507

$3,000,000

0 Beds

0 Baths

N/A Sq Ft

Status Active

MLS# 10534213

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 5.68% 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!

Details for 1000 GATES AVE

0 parking spaces

Heat Pump W/A

23 Days on website

Interior

Flooring

Ceramic, Wood

Building And Construction

Accessibility Features

Level Flooring, Main Floor Laundry

Number Of Units Total

Property Sub Type

Multi Family

Property Type

Residential Income

Year Built

1918

Exterior And Lot

Parking Features

Off Street, Street

Utilities

Cooling

["Central Air"]

Heating

Heat Pump W/A

Area And Schools

City

Norfolk

County Or Parish

Norfolk VA

Elementary School

Walter Herron Taylor Elementary

High School

Maury

Middle Or Junior School

Blair Middle

Subdivision Name

WEST GHENT

Financial Info

Buyer Agency Compensation^*

^*The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Tax Annual Amount

$21,240