1000 Gates Ave
Norfolk, VA
Videos
Previous
Next
Floorplans
Description
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, 1I-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!
Property Highlights
Renovated to Perfection: Step Into the future with this fully
renovated multi-family property at 1000 Gates Ave. Every inch of
this building was meticulously upgraded in 2018, from the
plumbing and electrical systems to the kitchens and bathrooms.
Say goodbye to old utilities- this property is a modern marvel
waiting to generate impressive returns for savvy investors.
Location Description
Seize the opportunity to invest in a prime piece of real estate in Ghent,
where the possibilities for financial growth are endless, This multi-
family property at 1000 Gates Ave is a gateway to a lucrative investment
venture in a neighborhood celebrated for its exceptional livability and
strong market performance. With its strategic location, rich history, and
abundance of local amenities, this property is poised to deliver
impressive returns for investors with a keen eye for opportunity.
Embrace the potential of Ghent’s real estate market and make your
mark with this outstanding investment opportunity that promises both
profitability and lasting value.
Immerse yourself in the vibrant energy of Gnent and unlock the
investment potential of this multi-farnily property at 1000 Gates Ave.
Embrace the allure of this dynamic neighborhood, renowned for its
historic charm, diverse amenities, and strong sense of community. With
its strategic location near military bases, major highways, and a
plethora of dining and entertainment options, this property offers a
compelling opportunity for investors seeking a profitable venture in a
prime real estate market. Don’t miss out on the chance to own a piece
of Ghent’s thriving landscape and secure a valuable asset with
promising returns.
Elevate your investment portfolio with this exceptional multi-family
property, a gem in the sought-after enclave of Ghent. Boasting a
strategic location that offers unparalleled convenience, this property is
@ promising prospect for savvy investors looking to maximize their ROI.
Take advantage of Ghent’s robust rental market and capitalize on the
area’s reputation for high property values and enduring desirability.
Seize the opportunity to own a valuable asset in a prime location that
promises both financial growth and long-term stability.
Offering Summary
- Number of Units: 12
- Lot Size: 9,005 SF
- Building Size: 14,811 SF
- NOI: $168,325.00
- Cap Rate: 6.23%
| DEMOGRAPHICS | 0.3 MILES | 0.5 MILES | 1 MILE |
|---|---|---|---|
| Total Households | 1,022 | 2,898 | 8,335 |
| Total Population | 1,855 | 5,646 | 18,746 |
| Average HH Income | $123,321 | $121,562 | $92,513 |
Amenities
- 9 foot ceilings
- Bicycle Storage
- Building Deposit Fee one month Rent
- Cable not included in rent
- Central Air Conditioning / Heating
- Complete Remodel Down to the Studs
- Fullsize Washer / Dryer in unit
- Electricity Cable, Internet, Water not included
- Flooring: Hardwood
- Granite countertops
- Mini-split HVAC Heating / AC
- Stainless steel appliances