1318 Little Bay Avenue, Norfolk, VA 23503
- $2,000,000
- Sold Price
- $2,000,000
- Status
- SOLD
- MLS#
- 10601552
- Closing Date
- Mar 20, 2026
- Year Built
- 1970
- County
- Norfolk VA
- City
- Norfolk
- Subdivision
- Willoughby Beach
Property Description
1314-1318 Little Bay Avenue presents a rare opportunity to own a 20-unit, 1-bedroom, 1-bath multifamily property in sought-after Norfolk, VA. With eight current vacancies (six of which have just been made rent ready, 2 need full turns), this property offers tremendous value-add potential, including separating water from rent (2 new leases already have this), turning select units, adding laundry in the units, bringing existing rents to market rates, and filling the remaining vacancies. The two buildings are in excellent condition, featuring newer roofs, windows, and well-maintained brick siding. Property has a common area laundry with coin operated machines. Gas heat and wall AC make for low maintenance costs. To maximize appeal, envision adding a mural to enhance its coastal charm and solidify its place in this sought-after community. Don’t miss this chance to capitalize on a well-maintained property with exceptional upside!
Additional Information
- Heating
- Nat Gas, Wall Furn
- Cooling
- Window/Wall
- Roof
- Asphalt Shingle, Poly Skin
- Floors
- Carpet, Ceramic, Laminate/LVP, Vinyl
- Exterior
- Brick
- Parking Description
- Lot, Multi Car, Off Street, Street
- Elementary School
- Ocean View Elementary
- Middle School
- Northside Middle School
- High School
- Granby
- Contingency Exists
- Non Contingent
- Days on Market
- 111
Mortgage Calculator
Listing courtesy of Inlet Realty. Selling Office: .
© 2026 REIN, Inc. Information Deemed Reliable But Not Guaranteed. The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent. © 2026 REIN. REIN's listings data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW. REIN updates its listings on a daily basis. Data last updated: . This application does not include information on all of the properties available for sale at this time.