2061 E Ocean View Avenue, Norfolk, VA 23503
- Added:
- Jul 2, 2026
- Days on Market:
- 6
- Last Refresh:
- Jul 7 at 2:06 am
Property Features for 2061 E Ocean View Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-12
- Standard status
- Active
- Size
- 3,212 SF
Taxes and HOA fees
- Tax Annual Amount
- 5298
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1952
- 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 from the Chesapeake Bay in Ocean View
- All four units are 2‑bedroom apartments and are currently occupied
- Each apartment has its own separate electric service
- Water, sewer, and trash are included in the rent
- Building built in 1952 with a shingle roof
- Sold as‑is and must be sold together with the adjacent quadruplex at 2057 E Ocean View Ave for a combined eight‑unit opportunity
Overview
The building is located in Ocean View and is directly across the street from the Chesapeake Bay. Water, sewer, and trash are included in the rent, and the listing notes a convenient position near parks, shopping, dining, and major roadways.
For buyers seeking a small income property, this asset provides four independently metered 2-bedroom units with utilities support via included water, sewer, and trash. The sale terms require the property to be sold together with the adjacent quadruplex at 2057 E Ocean View Ave, for a combined eight-unit multifamily opportunity. Zoning is listed as R-12.
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 | $63.6k | $19.80 |
| − Vacancy | −$3.5k | −$1.09 |
| EGI | $60.1k | $18.71 |
| − OpEx | −$18.0k | −$5.61 |
| NOI | $42.1k | $13.10 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Norfolk
- County
- Norfolk
- State
- Virginia
- Longitude
- -76.2167183
- Latitude
- 36.9359379
