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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Beach Borough
MLS Listing ID 10659207
HOA Y/N No
Year Built 1935
Annual Tax Amount $6,919
Property Description
Rare opportunity to acquire a 5-unit multi-family property in highly desirable Old Beach, 2 blocks from beach. Massive upside potential. Irreplaceable acquisition opportunity w/2 separate structures. 2 units positioned for immediate premium rehab & market-rent stabilization. 2 units currently available to show. 3 units are currently managed & occupied offering immediate income. 1st floor unit has 3 bedrooms/1 bath & other unit is 1 bedroom/1 bath. All other units 1 bed/1bath. Current rent roll analysis: 2 units at $995/month each, plus 401 25th St #3 (same tax parcel) at $1050/month. 3 bedroom market rate estimated $2100/mo & other unit $1100/mo. Zoned A-12 & part of Old Beach Overlay Redevelopment, not zoned for STR use.Property to be sold strictly As-Is, Where-Is. All statements regarding property features are estimates. Buyer to exercise due diligence to verify all info.
Location
State VA
County Virginia Beach
Area 43 - Northeast Virginia Beach
Zoning A12
Interior
Hot Water Electric
Heating Electric
Cooling Window/Wall
Flooring Carpet, Vinyl, Wood
Exterior
Parking Features 2 Space, Driveway Spc, Street
Utilities Available City Sewer, City Water, Electric, Meter
Roof Type Asphalt Shingle
Building
Story 2.0000
Foundation Crawl, Slab
Schools
Elementary Schools W.T. Cooke Elementary
Middle Schools Virginia Beach Middle
High Schools First Colonial
Others
Senior Community No
Ownership Simple
Disclosures Disclosure Statement
Special Listing Condition Disclosure Statement
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Listed by Swell Realty Co
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