Residential
For Sale
$378,000
1482 Old Virginia Beach Road B, Virginia Beach, VA 23454
Two-unit property near military facilities, shopping, dining, entertainment, and the Virginia Beach oceanfront.
Property Size1,664 SF
Price / SF$227.16
Days on Market69
Property Features for 1482 Old Virginia Beach Road B
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Own Real Estate LLC
Listed By:
Davis Shepherd
(757) 354-4080
Source:
Vineyardhomesva
Added: Aug 10
Changed: Oct 8
Last Checked: Oct 7 at 5:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Own Real Estate LLC
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Investment Insights
Based on property information with market context.
This residential duplex contains 1,664 square feet and was built in 1950. The two-unit configuration supports residential occupancy and is positioned for an owner-occupant seeking to live in one unit while retaining the second.
The property is near Oceana Military Base and within a short drive of the Virginia Beach oceanfront. Hilltop Shopping Center is also nearby, offering dining, grocery stores, and entertainment. Major roads and everyday services are readily accessible from the property.
The property is near Oceana Military Base and within a short drive of the Virginia Beach oceanfront. Hilltop Shopping Center is also nearby, offering dining, grocery stores, and entertainment. Major roads and everyday services are readily accessible from the property.
Key Highlights
- Duplex configuration with 1,664 square feet
- Built in 1950
- Near Oceana Military Base
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,025
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,500
$440.5K
Cap Rate 7%
$314,643
$314.6K
Cap Rate 9%
$244,722
$244.7K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$32.9K $19.80/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$31.5K $18.91/SF
− OpEx
−$9.4K −$5.67/SF
NOI
$22.0K $13.24/SF
Area
ZIP 23454
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,500
Cap Rate 7%
$314,643
Cap Rate 9%
$244,722
Alternative Uses
Best Use
Multifamily LT 5
$314.6K
$275.3K – $367.1K
NOI $22,025 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$291.6K
$255.1K – $340.2K
NOI $20,411 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$420.9K
$368.3K – $491.1K
NOI $29,463 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 23454, VA
58,665
Population
24,253
Households
2.4
Avg Household Size
38
Median Age
43%
College-Educated
94%
High-School Grad
22.5 sq mi
ZIP Area
2,607
Density / Sq Mi
$97,835
Median Household Income
$48,961
Median Earnings
$1,600
Median Rent
$401,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property near military facilities, shopping, dining, entertainment, and the Virginia Beach oceanfront.
Where is this duplex located?
The property is located at 1482 Old Virginia Beach Road B Virginia Beach, VA.
What is the asking price?
The asking price for this property is $378,000.
What are key features of this property?
This property features: Duplex configuration with 1,664 square feet; Built in 1950; Near Oceana Military Base
