2057 E Ocean View Avenue, Norfolk, VA 23503
- Added:
- Jul 2, 2026
- Days on Market:
- 6
- Last Refresh:
- Jul 7 at 9:06 am
Property Features for 2057 E Ocean View Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R 12
- Standard status
- Active
- Size
- 3,312 SF
Taxes and HOA fees
- Tax Annual Amount
- 5728
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1965
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Lisa Martin (757) 587-2800
Listing office Judy Boone Realty Inc. 809 E Ocean View Avenue, Norfolk, VA (757) 587-2800
Listing date Jul 2, 2026
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
- Four‑unit multifamily directly across the street from the Chesapeake Bay
- Unit mix: two 1‑bedroom and two 2‑bedroom apartments
- Separate electric service for each unit
- All units occupied with established rental history
- Water, sewer, and trash included in rent
- Built in 1965; roof type: shingle; sold as‑is
Overview
The property is located in Ocean View and sits directly across the street from the Chesapeake Bay. Water, sewer, and trash are included in the rent. The surrounding area is described as being near parks, shopping, dining, and major roadways.
For investors or owners seeking immediate stabilized income, the occupied unit mix may fit a variety of residential income strategies. Note that the property must be sold together with an adjacent quadruplex at 2061 E Ocean View Ave, creating an eight-unit multifamily opportunity.
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 | $65.6k | $19.80 |
| − Vacancy | −$3.6k | −$1.09 |
| EGI | $62.0k | $18.71 |
| − OpEx | −$18.6k | −$5.61 |
| NOI | $43.4k | $13.10 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Norfolk
- County
- Norfolk
- State
- Virginia
- Longitude
- -76.2168677
- Latitude
- 36.9359772
