1820 Parkview Avenue Norfolk, VA 23503
MULTI_FAMILY - Norfolk, VA
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 agent Andrew Lefevre (757) 410-8500
Listing office The Real Estate Group 401 N Great Neck Rd. #126, Chesapeake, VA (757) 961-9090
Listing date Apr 20, 2026
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Investment Insights
Based on property information with market context.
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 |