1318 Little Bay Avenue, Norfolk, VA 23503

Norfolk
Local realty services provided by:Better Homes and Gardens Real Estate Native American Group
1318 Little Bay Avenue,Norfolk, VA 23503
$2,000,000Last list price
  • - Beds
  • - Baths
  • - sq. ft.
  • Condominium
  • Sold
Listed by: alex field
Office: inlet realty
MLS#:10601552
Source:VA_REIN

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Price summary

  • Price:$2,000,000

About this home

1314-1318 Little Bay Avenue presents a rare opportunity to own a 20-unit, 1-bedroom, 1-bath multifamily property in sought-after Norfolk, VA. With eight current vacancies (six of which have just been made rent ready, 2 need full turns), this property offers tremendous value-add potential, including separating water from rent (2 new leases already have this), turning select units, adding laundry in the units, bringing existing rents to market rates, and filling the remaining vacancies. The two buildings are in excellent condition, featuring newer roofs, windows, and well-maintained brick siding. Property has a common area laundry with coin operated machines. Gas heat and wall AC make for low maintenance costs. To maximize appeal, envision adding a mural to enhance its coastal charm and solidify its place in this sought-after community. Don’t miss this chance to capitalize on a well-maintained property with exceptional upside!

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Home facts

  • Year built:1970
  • Listing ID #:10601552
  • Updated:April 12, 2026 at 06:53 AM

Rooms and interior

  • Flooring:Carpet, Ceramic, Laminate/LVP, Vinyl

Heating and cooling

  • Cooling:Window/Wall
  • Heating:Natural Gas, Wall Furnace

Structure and exterior

  • Roof:Asphalt Shingle, Poly Skin
  • Year built:1970
  • Construction Materials:Brick
  • Foundation Description:Crawl
  • Levels:2 Story

Schools

  • High school:Granby
  • Middle school:Northside Middle School
  • Elementary school:Ocean View Elementary

Utilities

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

Finances and disclosures

  • Price:$2,000,000
  • Tax amount:$19,998

Features and amenities

  • Amenities:Window Treatments

Parking

  • Parking description:Lot, Multi Car, Off Street, Street
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