105 days on market
$1,500,000
1315 Little Bay Ave
Norfolk, Virginia 23503
MLS# 10616857 · WILLOUGHBY BEACH · Norfolk VA
Beds
0
Baths
0
Sq Ft
0
$/Sq Ft
$0
Built
1979
Garage
0
Value-add 12-unit multifamily opportunity: (12) 2-bedroom apartments at 1315 Little Bay Ave with an all-2BR unit mix. Minutes to local beaches with quick access to the interstate and major military bases. Solid brick exterior with strong curb appeal and excellent interstate visibility in a high-traffic corridor. Rents are currently below market, while unit turnovers are in progress—creating a near-term runway to renovate, raise rents, and capture upside without betting on heavy lease-up (vacancy has remained low). On-site common-area laundry adds convenience and potential ancillary income. Pro forma upside through rent lifts and continued unit refreshes. Ideal for an investor seeking stable in-place cash flow plus straightforward value-creation levers.
Property Type
Apartments 3+
Style
Stories
2
Year Built
1979
Approx Sq Ft
0
Bedrooms
0
Full Baths
0
Half Baths
0
Fireplaces
0
Lot Size
Location & Street View
1315 Little Bay AVE, Norfolk
Map and Street View imagery © Google. Imagery may not be current.
About buying in Norfolk
Norfolk offers some of the most diverse housing options in Hampton Roads — historic Ghent townhomes, Larchmont craftsmen, modern downtown condos, and bungalow neighborhoods in Park Place and Colonial Place. As home to Naval Station Norfolk (the largest naval complex in the world) and the headquarters of NATO Allied Command Transformation, the city has consistent demand from active-duty military, DoD civilians, and contractors, making it especially friendly to VA loan buyers.
MLS# 10616857
Data provided by REIN MLS. Information deemed reliable but not guaranteed.