2400 Ballentine BlvdNorfolk, VA 23509

Property Details for 2400 Ballentine Blvd

Year built

1986

Lot size

0.12 AC

Property size (Sq ft)

5,126 SF

Property type

Apartment buildings

Description

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

Location Insight

City

Norfolk

County

Norfolk city

State

Virginia

Latitude

36.8643

Longitude

-76.2505

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