1000 Gates Ave, Norfolk, Virginia, United States | Homes For Sale at GLOBAL LISTINGS

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Home For Sale

$2,800,000

1000 Gates Ave
Norfolk, Virginia, United States

Listed By: Realtyww Info

Listed On: 07/21/2025

Listing ID: GL11889531 View More Details

Description

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.

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Listed by: Christian Phillips