Water-View Duplex with
1607 E Ocean View Avenue, Norfolk, VA 23503
New
- Added:
- Jun 17, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 20 at 9:06 am
Property Features for 1607 E Ocean View Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-12
- Standard status
- Active
- Size
- 2,228 SF
Taxes and HOA fees
- Tax Annual Amount
- 5729
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1932
- Roof type
- Shingle
Listing agent Autumn Love
Listing office Long & Foster Real Estate Inc. 1 Park West Circle, Suite 203, VA (804) 639-4663
Listing date Jun 17, 2026
MLS# 10640205
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Duplex with water views; located on a high lot across from the Chesapeake Bay with waterfront access nearby
- Year built 1932; upstairs 1‑bedroom apartment remodeled in 2016
- Unit 1: 4‑bedroom, 2‑bath layout with high ceilings; includes kitchen pantry and washer/dryer hookups
- Updates include new sewer line from house to street (2019), complete electrical rewiring, sealed crawl space, and updated appliances in Unit 1
- ADt security system installed with cameras plus door/window sensors
- Private backyard and ample off‑street parking
Overview
This duplex offers two separate living areas with distinct utility setups, supporting owner-occupant use or straightforward rental income. The first-floor unit features a 4-bedroom, 2-bath layout with large living and dining spaces, high ceilings, and a kitchen that includes abundant cabinetry, a pantry, and ample workspace. Washer/dryer hookups are included for everyday convenience. The upper level is a 1-bedroom apartment with water views and was remodeled in 2016.
Set on a high lot, the property provides water views from the upstairs apartment and is located directly across from the Chesapeake Bay. Access is supported by a private backyard and ample off-street parking. The property is zoned R-12.
Recent updates include a new sewer line from house to street (2019), complete electrical rewiring, a sealed crawl space, and appliance and finish improvements in Unit 1, including new flooring, an updated garbage disposal, and refreshed bathroom fixtures such as toilets, lighting, mirrors, and faucets. Additional security upgrades include a newly installed ADT security system with cameras and door/window sensors. With in-unit laundry hookups, separate unit configurations, and a strong coastal setting, the duplex is well-suited to tenants and buyers seeking a manageable two-unit property with documented improvements.
Set on a high lot, the property provides water views from the upstairs apartment and is located directly across from the Chesapeake Bay. Access is supported by a private backyard and ample off-street parking. The property is zoned R-12.
Recent updates include a new sewer line from house to street (2019), complete electrical rewiring, a sealed crawl space, and appliance and finish improvements in Unit 1, including new flooring, an updated garbage disposal, and refreshed bathroom fixtures such as toilets, lighting, mirrors, and faucets. Additional security upgrades include a newly installed ADT security system with cameras and door/window sensors. With in-unit laundry hookups, separate unit configurations, and a strong coastal setting, the duplex is well-suited to tenants and buyers seeking a manageable two-unit property with documented improvements.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.1k | $19.80 |
| − Vacancy | −$2.4k | −$1.09 |
| EGI | $41.7k | $18.71 |
| − OpEx | −$12.5k | −$5.61 |
| NOI | $29.2k | $13.10 |
2,228 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$416.9K
$364.8K – $486.4K
NOI $29,182 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$374.4K
$327.6K – $436.8K
NOI $26,207 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$472.6K
$413.6K – $551.4K
NOI $33,085 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Norfolk
- County
- Norfolk
- State
- Virginia
- Longitude
- -76.2287786
- Latitude
- 36.9402228
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Duplex with separate units, including a remodeled upstairs 1-bedroom and off-street parking for flexible living or rental use.
Where is this duplex located?
The property is located at 1607 E Ocean View Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Duplex with water views; located on a high lot across from the Chesapeake Bay with waterfront access nearby; Year built 1932; upstairs 1‑bedroom apartment remodeled in 2016; Unit 1: 4‑bedroom, 2‑bath layout with high ceilings; includes kitchen pantry and washer/dryer hookups
