8 days on market
$1,600,000
765 48th St
Norfolk, Virginia 23508
MLS# 10634189 · HIGHLAND PARK WEST · Norfolk VA
Updated 20 hours ago · Source: REIN MLS
Est. payment
$9,588/mo
Edit below
Price / sq ft
$420
3,810 sq ft
Days on market
8
New listing
HOA
None
Year built
1920
106 yrs old
Beds
0
Full Baths
0
Half Baths
0
Sq Ft
3,810
Garage
N/A
Schools
- ElementaryLarchmont Elementary School7/10
- MiddleBlair Middle School4/10
- —
Info provided by GreatSchools
About this home
Rare waterfront midterm rental investment opportunity! This unique quad multifamily property sits on a quiet dead-end road and backs directly to the creek with deep water access, offering incredible potential for investors or owner-occupants alike. Units 1 & 3 feature fresh paint completed in 2025. Unit 1 has new faceplates outlets, switches and all appliances convey. Updated dock improvements (2026) with newer elect…
Listed by Julian Rivera · Iron Valley Real Est Norfolk
VaHome Team property overview
765 48th Street is a century-old multi-family property in Norfolk's Highland Park West neighborhood, offering 3,810 square feet of living space built in 1920. Its location puts Naval Medical Center Portsmouth and USCG Base Portsmouth each within single-digit minutes by car.
Read full property overview ↓Show less ↑
Why this home stands out
What sets 765 48th Street apart is the combination of serious square footage — 3,810 feet across a multi-family footprint — and a location that's genuinely hard to beat for anyone connected to the Portsmouth military corridor. The 1920 construction means real architectural bones: thick walls, established proportions, and the kind of craftsmanship that newer builds rarely replicate. Highland Park West adds a walkable, tree-lined residential backdrop that feels grounded and lived-in.
HIGHLAND PARK WEST and the Norfolk real estate market
Highland Park West sits in the western reaches of Norfolk, a city whose older residential districts carry a distinct character shaped by early-twentieth-century development. The streets here are lined with mature trees and homes that were built to last, and the neighborhood has maintained a cohesive, human-scaled feel that larger subdivisions rarely achieve. If you're browsing norfolk va homes for sale and want something with genuine neighborhood identity rather than cookie-cutter uniformity, Highland Park West consistently stands out. Norfolk itself spans from the waterfront to inland corridors, and this pocket lands you close to the Portsmouth border — meaning you get city amenities without fighting through the core for your daily commute. The broader area rewards people who appreciate walkable blocks, proximity to independent businesses, and a neighborhood where front porches still get used.
What's nearby
Daily life is well-supported from 48th Street. The Ghent and Colley Avenue commercial strips are a short drive east, offering coffee shops, restaurants, and specialty grocery options. Broad Creek and the Lafayette River are within the broader Norfolk grid for outdoor access. The Medical Center Boulevard corridor near Naval Medical Center Portsmouth puts pharmacies, urgent care, and everyday retail within easy reach. USCG Base Portsmouth sits just minutes in the other direction, keeping the commute short for Coast Guard personnel. Interstate 264 access is nearby, connecting you to the wider Hampton Roads region without a long surface-street slog.
For different buyers
For military families relocating
Six minutes to Naval Medical Center Portsmouth and seven to USCG Base Portsmouth — that's the kind of commute that changes daily life for military households. A VA loan can make a multi-family property like this one especially strategic, and BAH rates in the Norfolk-Portsmouth area are structured to support exactly this price tier. For families who move frequently, being this close to two installations means less time in the car and more time at home.
For buyers drawn to character
Homes built in 1920 don't apologize for having a point of view. The proportions are deliberate, the construction is substantial, and 3,810 square feet gives you room to work with without gutting the character that makes older Norfolk architecture worth preserving. Highland Park West has the kind of streetscape that rewards buyers who want a home with history — not a house that looks like it was assembled from a catalog. If authenticity matters to you, this address delivers it.
Frequently asked questions
How far is 765 48th Street from Naval Medical Center Portsmouth?
The drive runs approximately 6 minutes under normal traffic conditions, making it one of the closer residential options to the medical center in this part of Norfolk.
How far is 765 48th Street from USCG Base Portsmouth?
USCG Base Portsmouth is about 7 minutes away by car, a straightforward commute that keeps Coast Guard personnel close to their installation without sacrificing neighborhood quality.
What is the Highland Park West neighborhood like?
Highland Park West is a mature, tree-lined residential district in western Norfolk with early-twentieth-century architecture, walkable blocks, and a grounded neighborhood character that distinguishes it from newer suburban developments.
Is 765 48th Street in a flood zone?
Flood zone designation for this address is displayed in the FloodRisk tile on this page, which pulls current FEMA map data for the most accurate and up-to-date information.
Does 765 48th Street have an HOA?
Based on available information, this property does not carry an HOA, which means no association fees or deed restrictions tied to a homeowners association.
Want to walk through 765 48th Street or talk through what a multi-family property in Highland Park West could look like for your situation? Tom and Dariya Milan at LPT Realty are ready to help.
Summary generated by AI from public records and publicly available information.
Location & Neighborhood
Location & Street View
765 48th ST, Norfolk
Map and Street View imagery © Google. Imagery may not be current.
Map data ©Google. Click and drag inside the map to explore the surrounding area.
Flood Risk
Property Details
Bedrooms
0
Full Baths
0
Half Baths
0
Approx Sq Ft
3,810
Stories
0
Fireplaces
0
Flooring
N/A
Heating
Cooling
Laundry
Interior Features
N/A
Sale & Tax History
List Price
$1,600,000
Price / Sq Ft
$420
Annual Taxes
$9,826
Monthly Tax
$819
HOA
None
Tax Rate (effective)
0.61%
Sale Timeline (this listing)
| Event | Date | Price | Detail |
|---|---|---|---|
| Listed | May 12, 2026 | $1,600,000 | — |
| Currently listed | — | $1,600,000 | — |
Public-Records Assessment
Source: City Assessor via Hampton Roads Regional Parcels. Fetched May 20, 2026.
Total Assessed
$798,900
Land
$283,000
Improvement
$515,900
Parcel ID: 1428893908
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:
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.
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.
Military Commute
Drive times to nearest basesDrive 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.
Estimate your monthly payment
$9,588/moPrincipal & interest
$8,302
Property tax
$819
Home insurance
$467
PMI
None
HOA
None
Estimate only. 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.
Listed by Iron Valley Real Est Norfolk · MLS# 10634189
Data provided by REIN MLS. Information deemed reliable but not guaranteed.
$1,600,000
765 48th ST, NORFOLK VA 23508
Norfolk, Virginia 23508
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