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Norfolk › MONTICELLO VILLAGE › 540 Ashlawn Dr✓ Source: REIN MLS #10637678 · record updated Jun 10, 2026 · synced every 2 min · your inquiry is never resold
540 Ashlawn DR, NORFOLK VA 23503 - Main photo
540 Ashlawn DR, NORFOLK VA 23503 - Photo 2
540 Ashlawn DR, NORFOLK VA 23503 - Photo 3
540 Ashlawn DR, NORFOLK VA 23503 - Photo 4
540 Ashlawn DR, NORFOLK VA 23503 - Photo 5
$750,000
63days on market

540 Ashlawn Dr, Norfolk, VA 23503

ActiveApartments 3+ · built 1978 · MONTICELLO VILLAGE

Facts & features

Type

Apartments 3+

Year built

1978

HOA

None

Taxes

$6,400/yr

County

Norfolk VA

MLS #

10637678

Interior

Stories
2
Flooring
Vinyl

Construction & exterior

Foundation
Slab
Construction
Block, Frame
Roof
Asphalt Shingle
Exterior
Brick

Utilities & systems

Heating
Basebd, Electric
Cooling
Window/Wall
Water heater
Electric
Utilities available
City Sewer, City Water, Electric

Lot, parking & ownership

Subdivision
MONTICELLO VILLAGE
Zoning
R-13
Ownership
Fee Simple
Garage
No
Parking
Assigned/Reserved
Possession
SETTLEMENT
Disclosures
Disclosure Statement

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

About this home

Investment opportunity in a 6-unit brick apartment building. All units have recently renovated. Currently fully occupied, this property provides strong rental income and long-term potential. To be sold with another fully renovated and fully rented 6 unit apartment building at 511 Ashlawn Drive. A great option for those looking to expand or begin their investment portfolio.

Listing courtesy of Carrie Copenhaver · Iron Valley Real Est Norfolk · REIN MLS #10637678

Tom & Dariya's overview

Our read on this home

by Tom & Dariya Milan, REALTORS® · Brokered by LPT Realty

At a glance

540 Ashlawn Drive is a multi-unit apartment building in Norfolk built in 1978. Located just seven minutes from Naval Station Norfolk, it offers convenient access for base commuters. The surrounding neighborhood has walkable grocery, dining, and fitness options nearby.

Keep searching in Norfolk

See all Norfolk homes for sale, including homes for sale in 23503, homes for sale zoned for Granby High School, and homes for sale zoned for Crossroads School. Browse every listing among homes for sale in Norfolk — updated from the REIN MLS every few minutes. Nearby, look at Chesapeake Shores & Bayview homes for sale, Norfolk waterfront homes for sale, Norfolk condos and townhomes for sale, and new construction homes in Norfolk.

Read the full overview ↓

Why this home stands out

This three-plus-unit apartment property sits in an established Norfolk neighborhood with strong walkability to everyday essentials. Grocery stores like Watergate 7 and Food Lion are within a few blocks, along with restaurants ranging from casual to sit-down dining. The location balances urban convenience with proximity to major employment centers, making it a practical choice for anyone evaluating Norfolk homes for sale.

MONTICELLO VILLAGE and the Norfolk real estate market

Ashlawn Drive is a residential street in Norfolk with a mix of multi-family and single-family housing. The area has a working neighborhood feel with established tree-lined blocks and accessible local services. You're in Norfolk's central zone, where daily life centers on nearby shops, parks, and quick commutes to major employers. Village Park sits just a short walk away, offering green space and recreation. The city itself is Virginia's second-largest city, with a deep maritime heritage and a diverse economy anchored by Naval Station Norfolk and the Port of Virginia. Getting around is straightforward via local roads; Interstate 64 connects you to the broader Hampton Roads region. If you're comparing homes for sale in 23503, note that this zip code sits close to downtown Norfolk and the waterfront neighborhoods.

What's nearby

You're steps away from Watergate 7 for quick grocery runs and casual meals. LA K-TRACHITA STORE and Food Lion are also within easy reach for weekly shopping. For dining out, El Sabor K-tracho and Maya Restaurant offer local flavors, while Panera Bread and Tropical Smoothie Cafe are nearby for coffee and quick bites. Fitness options include Planet Fitness and Somnium CrossFit. Village Park and Pennstock Triangle provide outdoor space, and the Northside Park Mountain Bike Trail is a short drive for recreation.

For different buyers

Base commute and VA loan notes

Naval Station Norfolk is about seven minutes away by car, making this location practical for base commuters. VA loan financing is widely available in this Norfolk neighborhood. The apartment's established location means you can move in without extensive repairs or updates.

Room to grow

This multi-unit property offers multiple bedrooms and bathrooms across its units. Ample living space and storage are built into the layout. The nearby parks and recreation trails give you outdoor options for weekends. The established neighborhood provides everything you need within walking distance or a short drive.

More buyer questions

How far is 540 Ashlawn Drive from Naval Station Norfolk?

The drive is approximately seven minutes under normal traffic conditions via local roads.

What grocery stores are near this address?

Watergate 7, LA K-TRACHITA STORE, and Food Lion are all within a few blocks, making shopping convenient.

Are there parks and recreation nearby?

Yes. Village Park is a short walk away, and Pennstock Triangle and the Northside Park Mountain Bike Trail are within a short drive.

What dining options are close by?

El Sabor K-tracho, Maya Restaurant, and Watergate 7 offer local dining, while Panera Bread and Tropical Smoothie Cafe are nearby for quick meals.

Can I find fitness facilities in the area?

Planet Fitness is about a quarter mile away, and Somnium CrossFit and Hyrox Norfolk are within walking distance or a short drive.

Ready to explore this Norfolk apartment building? Contact Tom and Dariya Milan at LPT Realty to schedule a tour and learn more about the property.

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

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

Norfolk$635K – $865K

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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 X · outside the high-risk area · FIRM 510104

Flood Risk

Looking up FEMA flood zone…

Hurricane Evacuation Zone

Evacuation Zone C

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

In the Chesapeake Shores & Bayview neighborhood of Norfolk. browse Norfolk listings →

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

Estimates only — taxes come from the public record; confirm rates with your lender. VA-eligible buyers: $0-down financing may apply.

Estimate your monthly payment

$4,644/mo

Principal & interest

$3,892

Property tax

$533

Home insurance

$219

PMI

None

HOA/Condo (paid separately)

None

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

Asking vs. assessment

144% of $520,300

City assessment record · taxes $6,400/yr

Land share of assessed value

11% — $57,900

Improvements $462,400 · assessor record ✓

Own a home nearby? See what it is worth today — What's your Norfolk home worth?

Sale & Tax History

List Price

$750,000

Price / Sq Ft

$0

Annual Taxes

$6,400

Monthly Tax

$533

HOA

None

Tax Rate (effective)

0.85%

Sale Timeline (this listing)

EventDatePriceDetail
ListedJun 2, 2026$750,000—
Currently listed—$750,000—

Public-Records Assessment

Source: City Assessor via Hampton Roads Regional Parcels.

44% above assessment

Total Assessed

$520,300

Land

$57,900

Improvement

$462,400

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:

Norfolk 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

63 days on market — read it in context

Days on market reflects pricing, season, and inventory — compare it against similar nearby homes below before reading anything into it.

Questions buyers ask

Is 540 Ashlawn Dr in a good school zone?+
The assigned zones on the listing record are Crossroads Elementary (VaHome School Score 3.1/10), Norview Middle (VaHome School Score 2/10), Granby (VaHome School Score 3/10). School attendance zones can change — always confirm enrollment with the local school division.
Is 540 Ashlawn Dr in a flood zone?+
FEMA maps this parcel in Zone X, outside the high-risk Special Flood Hazard Area. See the flood section on this page for details and sources.
Is there a gym near 540 Ashlawn Dr?+
Yes — Planet Fitness is about 0.2 miles away, per the cached nearby-places record for this address.
Are there parks near 540 Ashlawn Dr?+
Pennstock Triangle is about 0.3 miles away.
Where is the nearest grocery store to 540 Ashlawn Dr?+
LA K-TRACHITA STORE is about 0.1 miles away. The closest dining on record is El Sabor K-tracho (0.1 mi).
Does 540 Ashlawn Dr have an HOA?+
No — there are no HOA, condo, or association dues on the listing record for this property.
When was 540 Ashlawn Dr built?+
It was built in 1978, 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

Brokered by LPT Realty · Hampton Roads · answer their own phone

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

Listing courtesy of Carrie Copenhaver · Iron Valley Real Est Norfolk · REIN MLS #10637678

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.

540 Ashlawn Dr, Norfolk — photo

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

Call or text (757) 777-7577

540 Ashlawn Dr, Norfolk, Virginia 23503 · MLS #10637678 · 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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