1208 W Ocean View Ave Norfolk, VA 23503
Thirteen-unit multifamily property in Norfolk, Virginia.
Property Features for 1208 W Ocean View Ave
General Information
- Standard status
- Active
- Size
- 4,347 SF
- Lot size
- 0.46 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1952
Listing office Marcus & Millichap - Hampton Roads
Listing date Mar 3, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
Key Highlights
- Thirteen total units provide substantial rental income potential.
- Mix of unit types broadens tenant appeal.
- Located at 1208 W Ocean View Avenue in Norfolk, VA.
Local Financial Insights For Apartment 5plus
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 | $98.1k | $22.56 |
| − Vacancy | −$5.1k | −$1.17 |
| EGI | $93.0k | $21.39 |
| − OpEx | −$41.8k | −$9.62 |
| NOI | $51.1k | $11.76 |
