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Virginia Beach › OCEAN WAY CONDOMINIUM › 500 Winston Salem Ave #505✓ Source: REIN MLS #10631743 · record updated Aug 20, 2026 · synced every 2 min · your inquiry is never resold
500 Winston Salem AVE #505, VIRGINIA BEACH VA 23451 - Main photo
500 Winston Salem AVE #505, VIRGINIA BEACH VA 23451 - Photo 2
500 Winston Salem AVE #505, VIRGINIA BEACH VA 23451 - Photo 3
500 Winston Salem AVE #505, VIRGINIA BEACH VA 23451 - Photo 4
500 Winston Salem AVE #505, VIRGINIA BEACH VA 23451 - Photo 5
$1,250,000
$447 / sqft · est. $9,269/mo →
4beds
3.1baths
2,798sqft
115days on market

500 Winston Salem Ave #505, Virginia Beach, VA 23451

ActiveResidential · built 1985 · OCEAN WAY CONDOMINIUM

Chapter · The Water

Life on the water

The waterfront is the reason this home exists. Its water record, straight from the listing: Deep Water, Lake, Navigable, Ocean.

Frontage

Lake · Ocean ✓ VERIFIED

Access

Deep-water access

Source: REIN MLS listing record · waterfront features as listed

Facts & features

Type

Residential

Year built

1985

Price / sqft

$447

Condo fee

$1,846/mo

Taxes

$6,871/yr

County

Virginia Beach VA

Waterfront

Yes

MLS #

10631743

Condo association includes

CableClubhouseElevatorExercise RmGround MaintPoolSecuritySewerTrash PickupWater

$1,846/mo condo fee · Ocean Way Condominium Owners Association · per the REIN MLS listing record — confirm inclusions with the association.

Interior

Bedrooms
4
Full baths
3
Half baths
1
Approx. sqft
2,798
Stories
2
Flooring
Carpet, Ceramic, Laminate/LVP
Ensuite bedrooms
2
First-floor bed & full bath
Yes
Total rooms
11
Other rooms
1st Floor BR, 1st Floor Primary BR, Balcony, Foyer, PBR with Bath
Appliances
Dishwasher, Disposal, Dryer, Microwave, Elec Range, Refrigerator, Washer
Equipment
Ceiling Fan

Construction & exterior

Style
Contemp
Subtype
Attached
Foundation
Pile
Roof
Asphalt Shingle,Poly Skin
Exterior
EIFS
Pool
No Pool
Waterfront
Deep Water,Lake,Navigable,Ocean
Deep-water access
Yes

Utilities & systems

Heating
Heat Pump
Cooling
Central Air, Heat Pump
Water heater
Electric
Water
City/County
Sewer
City/County

Lot, parking & ownership

Subdivision
OCEAN WAY CONDOMINIUM
Unit / floor
5
Zoning
RT3
Ownership
Condo
Garage
Yes
Parking
Parking Gar, 1 Space, Assigned/Reserved, Lot
Possession
CLOSE
Disclosures
Disclosure Statement

See more Virginia Beach waterfront homes.

Sources: REIN MLS record · null fields are suppressed, never faked

About this home

Perched above the Virginia Beach coastline, this 4-bedroom, 3.5-bath penthouse offers incredible views of Lake Rudee and the Atlantic Ocean. Designed with a spacious open floor plan, the main living area flows seamlessly to the primary balcony, creating the perfect indoor-outdoor space for entertaining or relaxing with a view. The kitchen overlooks the living and dining areas, maximizing both functionality and natural light. The main level features a private en suite bedroom, great for guests or multi-generational living. Upstairs, all bedrooms offer brand-new carpet, while the main living areas feature hard tile flooring with the look of wood for a stylish and durable finish. The primary suite includes its own private balcony, spacious ensuite bath, and stunning water views. With two balconies, generous living spaces, and an unbeatable location near the beach, dining, and entertainment, this penthouse delivers luxury coastal living at its finest.

Listing courtesy of Cameron Elliott · AtCoastal Realty · REIN MLS #10631743

VaHome team overview

Our read on this home

by Tom & Dariya Milan, REALTORS® · LPT Realty

At a glance

Unit 505 at 500 Winston Salem Avenue puts nearly 2,800 square feet of coastal Virginia Beach living six minutes from Dam Neck Annex, two-tenths of a mile from waterfront dining, and squarely inside one of the most walkable zip codes on the Oceanfront.

Keep searching in Virginia Beach

See all Virginia Beach homes for sale, including homes for sale in 23451, homes for sale zoned for First Colonial High School, and homes for sale zoned for Cooke Elementary School. Browse every listing among homes for sale in Virginia Beach — updated from the REIN MLS every few minutes. Nearby, look at Rudee Heights homes for sale, Virginia Beach waterfront homes for sale, Virginia Beach condos and townhomes for sale, and new construction homes in Virginia Beach.

Read the full overview ↓

Why this home stands out

Four bedrooms and three and a half baths across 2,798 square feet is a rare footprint for a Virginia Beach condo — most comparable units top out at two or three bedrooms. Built in 1985, the building carries that solid mid-eighties construction character while sitting on a stretch of Winston Salem Avenue where the Atlantic energy is impossible to ignore. If square footage and proximity to the water both matter to you, this unit checks both boxes without compromise.

OCEAN WAY CONDOMINIUM and the Virginia Beach real estate market

Winston Salem Avenue sits in the heart of the Virginia Beach Oceanfront, a neighborhood that trades suburban quiet for year-round coastal energy. The 23451 zip code is one of the most recognizable addresses in Hampton Roads — boardwalk access, salt air, and a walkable grid of restaurants and shops define daily life here. Virginia Beach as a city offers a rare combination: a major resort destination with a full-service urban infrastructure, strong parks programming, and one of the largest municipal land areas on the East Coast. The Oceanfront corridor specifically draws people who want to feel the beach as a lifestyle, not just a weekend destination. Homes for sale in Virginia Beach span the full spectrum from inland suburban to true beachside, and the 23451 zip places you firmly at the coastal end of that spectrum — close to the water, close to the action, and connected to everything the city offers.

What's nearby

Step outside and the options stack up fast. Rudee's Restaurant and Cabana Bar, The Dock Grill, and Docktails VB are all within two-tenths of a mile — waterfront dining practically at your doorstep. Zeke's and Virginia Beach Coffee Co are both under a mile for your morning routine, with a 7-Eleven even closer for a quick grab. Prise's Food Mart covers everyday grocery needs at 0.7 miles, and Tienda Latina La Tapatia 2 is a mile out for specialty finds. For fitness, TakeOver Athletics Shadowlawn, CoreStrength Center, and ReStormi Pilates give you solid options within a mile. Marshview Park, Marshview Park Field, and Grommet Island Park — the latter a beloved inclusive playground — round out the outdoor scene within walking distance.

For different buyers

For military families relocating

Dam Neck Annex is six minutes away and NAS Oceana is seven — two of Hampton Roads' most active installations within a single-digit commute. A VA loan can make a unit this size more accessible than you might expect, and the 23451 location means your family lands in one of Virginia Beach's most connected, amenity-rich corridors from day one.

For first-time buyers

If you're weighing Virginia Beach homes for sale and wondering where square footage and walkability overlap, Unit 505 is worth a close look. Nearly 2,800 square feet gives you room to grow, four bedrooms means flexibility for a home office or guests, and the Oceanfront location means your first home comes with a lifestyle built in — not something you have to drive to find.

More buyer questions

How far is 500 Winston Salem Ave #505 from Dam Neck Annex?

Dam Neck Annex is approximately six minutes by car from this address, making it one of the closest residential options to that installation in Virginia Beach. NAS Oceana is similarly close at roughly seven minutes.

Is 500 Winston Salem Ave #505 in a flood zone?

The Oceanfront area of Virginia Beach carries flood zone considerations that vary by specific parcel and elevation — check the FloodRisk tile on this page for the FEMA designation specific to this unit and building.

What schools serve homes for sale zoned for First Colonial High School and homes for sale zoned for Cooke Elementary School in this area?

Families comparing homes for sale zoned for First Colonial High School and homes for sale zoned for Cooke Elementary School will find both schools serve portions of the 23451 zip — confirm current zoning with Virginia Beach City Public Schools directly, as attendance boundaries can shift.

How walkable is the area around 500 Winston Salem Ave?

Very walkable — waterfront restaurants are two-tenths of a mile out, coffee shops and a gym are under a mile, and multiple parks including Grommet Island Park are reachable on foot. The Oceanfront grid is genuinely pedestrian-friendly compared to most of Virginia Beach.

Does 500 Winston Salem Ave #505 have an HOA?

Yes, this is a condominium unit and an HOA governs the building and common areas — your agent can provide the current HOA documents, bylaws, and fee schedule as part of any transaction.

Tom and Dariya Milan at LPT Realty know this zip code well — reach out to get the full picture on Unit 505 and what ownership here looks like for your situation.

Summary generated by AI from public records and publicly available information.

Homes like this one sell fast — see the next one first

Virginia Beach$1.1M – $1.4M4+ beds

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Schools

VaHome School Score

Our own 1–10 rating, scored from Virginia Department of Education data.

VaHome School Score — calculated by VaHome.com from Virginia Department of Education assessment, progress, and attendance data. Attendance zones come from the MLS listing record; confirm the current zone with the school division before making an offer.

Flood & environment

FEMA flood zone AE · base flood elevation 8 ft · Special Flood Hazard Area (flood insurance typically required) · FIRM 515531

Flood Risk

Looking up FEMA flood zone…

Zone AE typically means lenders require flood insurance — factor it into the monthly numbers below.

Hurricane Evacuation Zone

Evacuation Zone C

Source: Virginia Dept. of Emergency Management — Know Your Zone

Military Aircraft Zone Information

Aircraft Noise

70-75 dB DNL

Accident Potential Zone

Not in a mapped Accident Potential Zone

Source: U.S. Navy AICUZ — Air Installations Compatible Use Zones (via city GIS)

Explore this neighborhood

Rudee Heights

Rudee Heights is a compact waterfront neighborhood at the south end of the Virginia Beach Oceanfront, set on the peninsula between Lake Rudee and Lake Wesley near Rudee Inlet.

2

For sale now

$176K

HH income

81.7%

Owner-occupied

U.S. Census ACS 2024 5-year

Explore Rudee Heights →
Map of Rudee Heights with neighborhood boundaryNeighborhood

homes for sale in Virginia Beach →

Location intelligence

Minutes to real places, not a score

Location & Neighborhood

Places within ~1 mile, ordered by distance from this property. Powered by Google Places.

Military Commute

Drive times to nearest bases

Drive times via Google Maps with current traffic patterns. Times are typical and may vary by time of day. Use the "Analyze" button up top to see live drive time to your saved base.

The numbers

Run the real carrying cost

Homes at this tier often trade in cash or portfolio financing — the calculator below shows a financed view; taxes are from the public record.

Estimate your monthly payment

$7,423/mo

Principal & interest

$6,486

Property tax

$573

Home insurance

$365

PMI

None

HOA/Condo (paid separately)

$1,846

Estimate only. Association (HOA/condo) fees are paid separately and are not included in the payment above. Insurance assumed at 0.35% of home value annually. Actual taxes, insurance, and rate will vary by lender, credit, and property. Contact a lender for a personalized quote.

Value & history

Judge value on real ground

Price context — similar nearby homes

$1,000,000 – $1,270,000

The 6 most similar homes nearby (same city, within ~20% of this size, ~2.5 mi; 6 sold). Context for judging the asking price — not an appraisal or an estimate of this home's value.

707 Carolina AVE · 0.3 mi · 2,700 sqft$1,049,000 sold 2026-03
533 Vanderbilt AVE · 0.7 mi · 2,800 sqft$1,260,000 sold 2026-06
665 S Atlantic AVE · 0.8 mi · 2,800 sqft$1,000,000 sold 2026-05

Sale & Tax History

List Price

$1,250,000

Price / Sq Ft

$447

Annual Taxes

$6,871

Monthly Tax

$573

Condo fee

$1,846 / mo

Tax Rate (effective)

0.55%

Sale Timeline (this listing)

EventDatePriceDetail
ListedApr 27, 2026$1,250,000—
Price reducedAug 20, 2026$1,250,000−$145,000
Currently listed—$1,250,000—

Looking for multi-year tax assessments or prior sales? REIN MLS only ships data for the current listing. For full property history, check the city assessor record:

Virginia Beach Real Estate Assessor

Tax data above from REIN public-records sync. Sale timeline tracked from this listing's first appearance in our feed forward; prior owner sales are not included.

Comparable Properties

Comps are selected by city, bed count, square footage and price proximity. Composite similarity score weights bed match, sqft variance, price variance, and straight-line distance.

Market tempo

115 days on market — read it in context

Higher-priced homes market more slowly by nature: the buyer pool is smaller and diligence is heavier. Days-on-market at this tier is a rhythm, not a warning.

Questions buyers ask

Is 500 Winston Salem Ave #505 in a good school zone?+
The assigned zones on the listing record are W.T. Cooke Elementary (VaHome School Score 6/10), Virginia Beach Middle (VaHome School Score 6.4/10), First Colonial (VaHome School Score 7.4/10). School attendance zones can change — always confirm enrollment with the local school division.
Is 500 Winston Salem Ave #505 in a flood zone?+
FEMA maps this parcel in Zone AE with a base flood elevation of 8 ft — a high-risk flood band where lenders typically require flood insurance. See the flood section on this page for the full details and sources, and verify with an elevation certificate.
Is there a gym near 500 Winston Salem Ave #505?+
Yes — CoreStrength Center is about 0.3 miles away, per the cached nearby-places record for this address.
Are there parks near 500 Winston Salem Ave #505?+
Grommet Island Park is about 0.4 miles away.
Where is the nearest grocery store to 500 Winston Salem Ave #505?+
Prise's Food Mart is about 0.5 miles away. The closest dining on record is Docktails VB (0 mi).
Is 500 Winston Salem Ave #505 a waterfront property?+
Yes. The listing record shows: Deep Water,Lake,Navigable,Ocean.
Does 500 Winston Salem Ave #505 have a condo association?+
Yes — condo association fees are on record for this unit (the current amount is shown in the facts section on this page). The association of record is Ocean Way Condominium Owners Association. Association amenities on record include: Cable, Clubhouse, Elevator, Exercise Rm, Ground Maint, Pool, Security, Sewer, Trash Pickup, Water.
When was 500 Winston Salem Ave #505 built?+
It was built in 1985, per the listing record.

Answers generated from the listing record, verified school zones, FEMA data, and cached nearby-places data — never invented.

The people

You'll talk to a person, not a lead queue

TD

Tom & Dariya Milan

LPT Realty · Hampton Roads · answer their own phone

✓ Your inquiry goes to Tom & Dariya — never sold to strangers

Listing courtesy of Cameron Elliott · AtCoastal Realty · REIN MLS #10631743

Call or text (757) 777-7577

Ask Dariya — instant answers

Schools, flood, drive times, what it really costs to own — answered from this page's data, by chat or voice.

Schedule a private tour

Free, no obligation — your inquiry goes to Tom & Dariya, never resold.

500 Winston Salem Ave #505, Virginia Beach — photo

See it in person — the record only says so much.

Call or text (757) 777-7577

500 Winston Salem Ave #505, Virginia Beach, Virginia 23451 · MLS #10631743 · Source: REIN MLS + public record. Information deemed reliable but not guaranteed — verify independently. School zones subject to change; confirm with the local school division. All locations are described by neutral geographic fact. Equal Housing Opportunity.

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