For Sale
Call for price

2400 Ballentine BlvdNorfolk, VA 23509

Prime Norfolk investment: 8 units, strong rental income.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 8-unit multifamily portfolio in Norfolk, Virginia, presents a compelling investment opportunity. The portfolio consists of three buildings: two duplexes and one quadplex, located at 2400 Ballentine Blvd, 3218 Flanders Ave, and 3224 Flanders Ave, all within the 23509 zip code. Built between 1940 and 1986, these properties offer a combined square footage ranging from 5,126 to 8,364 square feet, situated on lots ranging from 0.12 to 0.19 acres. The properties are zoned R8 and feature a mix of unit sizes. Each unit includes an electric stove and refrigerator, with electric baseboard heating, except for one unit with natural gas heating. Water, gas, and electric utilities are separately metered for each unit. Parking is available on-street and off-street. Significant value-add potential exists through minor interior upgrades, allowing for immediate rent growth and increased income. The roofs were replaced in 2013. The portfolio benefits from its proximity to schools, shopping, public transportation, and employment centers, contributing to strong tenant retention and consistent rental income. The current month-to-month tenancy provides flexibility for future owners. This portfolio is ideally positioned to capitalize on the robust Norfolk rental market, particularly given the significant presence of military personnel and related industries. The properties are conveniently located in Norfolk city, Virginia. APN numbers are 12741901

Highlights

  • Roof replacement in 2013.
  • On-street and off-street parking.
  • Separately metered water, gas, and electric utilities.
  • Units feature A/C, electric stoves, and refrigerators; most units have electric baseboard heat, with one exception.
  • Value-add opportunity with potential for immediate rent growth through minor interior upgrades.
  • Excellent location near schools, shopping, public transportation, and employment centers.

Property Details for 2400 Ballentine Blvd

Property type
Apartment buildings
Square Feet
5,126 SF
Class
C
Year Built
1986
Lot Size (sq. ft)
5,227 SF
Units
8

Location Insight

City
Norfolk
County
Norfolk city
State
Virginia
Latitude
36.8643259
Longitude
-76.2504735
2400 Ballentine Blvd, Norfolk, Virginia

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
2400 Ballentine Blvd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message