About 1000 Gates Ave
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.
Features of 1000 Gates Ave
| MLS® # | 10543035 |
|---|---|
| Price | $2,800,000 |
| Bathrooms | 0.00 |
| Acres | 0.00 |
| Year Built | 1918 |
| Type | Apartments 3+ |
| Sub-Type | Other |
| Status | Active |
Community Information
| Address | 1000 Gates Ave |
|---|---|
| Area | West Norfolk |
| Subdivision | West Ghent |
| City | Norfolk |
| State | VA |
| Zip Code | 23507 |
Amenities
| Utilities | City Sewer, City Water, Electric, Telephone Avail |
|---|---|
| Parking | Off Street, Street |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Heat Pump |
|---|---|
| Cooling | Central Air |
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Exterior | Brick |
|---|---|
| Roof | Poly Skin |
| Construction | Other |
| Foundation | Basement |
School Information
| Elementary | Walter Herron Taylor Elementary |
|---|---|
| Middle | Blair Middle |
| High | Maury |
Additional Information
| Days on Market | 182 |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Inlet Realty |
|---|