1318 Little Bay Avenue, Norfolk, VA 23503

Local realty services provided by:Better Homes and Gardens Real Estate Native American Group
1318 Little Bay Avenue,Norfolk, VA 23503
$2,200,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Condominium
  • Active
Listed by:alex field
Office:inlet realty
MLS#:10601552
Source:VA_REIN

Price summary

  • Price:$2,200,000

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!

Contact an agent

contact an agent

Yes, I would like more information from BHGRE®. Please use and/or share my information with an BHGRE affiliated agent to contact me about my real estate needs. By clicking Send message, I agree an BHGRE affiliated agent may contact me by phone or text message including by automated means about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to theTerms of useandPrivacy notice

Home facts

  • Year built:1970
  • Listing ID #:10601552
  • Updated:September 11, 2025 at 06:58 PM

Heating and cooling

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

Structure and exterior

  • Roof:Asphalt Shingle, Poly Skin
  • Year built:1970

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:$2,200,000
  • Tax amount:$19,998
The listings data displayed on this medium comes in part from the Real Estate Information Network Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent. 2025 REIN. REIN's listings Data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of Data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW. REIN updates its listings on a daily basis. Data last updated: September 11, 2025 This application does not include information on all of the properties available for sale at this time. Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions. 2025 REIN, Inc. Information Deemed Reliable But Not Guaranteed.

New listings near 1318 Little Bay Avenue