Residential Income Duplex
1820 Parkview Avenue Norfolk, VA 23503
1820 Parkview Avenue, Norfolk, VA, 23503
$475,000
For Sale
$475,000
MULTI_FAMILY - Norfolk, VA
Property Size2,972 SF
Price / SF$159.83
Days on Market88
Property Features for 1820 Parkview Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- SF-10
- Standard status
- Active
- Size
- 2,972 SF
Taxes and HOA fees
- Tax Annual Amount
- 4251
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1978
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
The Real Estate Group
(757) 961-9090
401 N Great Neck Rd. #126, Chesapeake, VA
Listed by
Andrew Lefevre
(757) 410-8500
Added: Apr 20 Checked: Jul 16 at 3:06 pm
MLS# 10630743
Listing URL
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.
Investment Insights
Based on property information with market context.
This for-sale duplex offers two separate residential units, with Unit A featuring 3 bedrooms and 1.5 baths and Unit B featuring 2 bedrooms and 1.5 baths. The property includes LVP flooring throughout, newer kitchens, and each unit has its own laundry. Both units also have divided backyards, with Unit A offering an enclosed, fenced yard. Roof and windows were updated in 2021. Unit A is currently occupied, while Unit B is vacant, recently painted, and ready for move-in.
Separate water and electric services are provided for the units. The seller notes that flood insurance is not paid by the seller.
The property is listed as zoned SF-10, and rent rolls and P&L are available upon request.
Separate water and electric services are provided for the units. The seller notes that flood insurance is not paid by the seller.
The property is listed as zoned SF-10, and rent rolls and P&L are available upon request.
Key Highlights
- Two‑unit property with Waterfront feature; Year built 1978 and shingle roof
- Unit A: 3 bed, 1.5 bath, 1,577 SF; enclosed fenced yard; occupied with tenant through 5/1/27
- Unit B: 2 bed, 1.5 bath, 1,395 SF; vacant, recently painted and ready to move in
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 | $58.8k | $19.80 |
| − Vacancy | −$3.2k | −$1.09 |
| EGI | $55.6k | $18.71 |
| − OpEx | −$16.7k | −$5.61 |
| NOI | $38.9k | $13.10 |
2,972 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$556.1K
$486.6K – $648.8K
NOI $38,926 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$499.4K
$437.0K – $582.7K
NOI $34,959 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$630.5K
$551.7K – $735.6K
NOI $44,133 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex with separate utilities, individual laundry, and divided fenced backyards.
Where is this duplex located?
The property is located at 1820 Parkview Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit property with Waterfront feature; Year built 1978 and shingle roof; Unit A: 3 bed, 1.5 bath, 1,577 SF; enclosed fenced yard; occupied with tenant through 5/1/27; Unit B: 2 bed, 1.5 bath, 1,395 SF; vacant, recently painted and ready to move in
