2057 E Ocean View Avenue Norfolk, VA 23503
MULTI_FAMILY - Norfolk, VA
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
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Investment Insights
Based on property information with market context.
The property is located in Ocean View and is directly across the street from the Chesapeake Bay. Water, sewer, and trash are included in the rent. Zoning is R 12.
The listing notes that this quadplex must be sold together with an adjacent four-unit property at 2061 E Ocean View Ave, creating an eight-unit multifamily opportunity. The remarks also indicate the property may qualify for DSCR financing, depending on lender eligibility.
Key Highlights
- Four‑unit multifamily directly across the street from the Chesapeake Bay
- Unit mix: two 1‑bedroom and two 2‑bedroom apartments
- Each apartment has separate electric service
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 | $74.7k | $22.56 |
| − Vacancy | −$3.9k | −$1.17 |
| EGI | $70.8k | $21.39 |
| − OpEx | −$31.9k | −$9.62 |
| NOI | $39.0k | $11.76 |
