Side-by-Side Duplex with
3231 Vimy Ridge Avenue Norfolk, VA 23509
New
3231 Vimy Ridge Avenue, Norfolk, VA, 23509
$345,000
For Sale
$345,000
MULTI_FAMILY - Norfolk, VA
Property Size1,500 SF
Price / SF$230
Days on Market5
Property Features for 3231 Vimy Ridge Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- R-11
- Standard status
- Active
- Size
- 1,500 SF
Taxes and HOA fees
- Tax Annual Amount
- 2506
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1966
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Keller Williams Realty Twn Ctr
(757) 499-5911
One Columbus Center #301, Virginia Beach, VA
Listed by
Kim Martinez
(757) 499-5911
Added: Jul 16 Updated: Jul 19 at 1:51 am Checked: Jul 20 at 3:06 pm
MLS# 10644542
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.
Investment Insights
Based on property information with market context.
This side-by-side duplex offers two residential units with functional floor plans. Unit B was recently renovated in 2025 and is move-in ready, featuring an updated kitchen and bathroom, fresh interior paint, and a new hot water heater. A washer and dryer convey with Unit B. Both units feature laminate/LVP flooring, and the property includes private driveway parking. Tenants are responsible for their own utilities.
Unit A is currently tenant occupied, providing immediate rental income potential. The exterior has seen multiple recent upgrades, including newer roofs, replacement windows, vinyl siding, new soffits (2024), and a freshly painted exterior (2026).
Zoned R-11, this duplex provides a straightforward owner-occupant or investor setup with separate units and dedicated parking via a private driveway.
Unit A is currently tenant occupied, providing immediate rental income potential. The exterior has seen multiple recent upgrades, including newer roofs, replacement windows, vinyl siding, new soffits (2024), and a freshly painted exterior (2026).
Zoned R-11, this duplex provides a straightforward owner-occupant or investor setup with separate units and dedicated parking via a private driveway.
Key Highlights
- Side‑by‑side duplex in Norfolk with Waterfront feature
- Unit B renovated in 2025: updated kitchen and bathroom, fresh interior paint, new hot water heater
- Unit B includes washer/dryer that convey and is move‑in ready
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 | $29.7k | $19.80 |
| − Vacancy | −$1.6k | −$1.09 |
| EGI | $28.1k | $18.71 |
| − OpEx | −$8.4k | −$5.61 |
| NOI | $19.6k | $13.10 |
1,500 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$280.7K
$245.6K – $327.5K
NOI $19,647 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$252.1K
$220.6K – $294.1K
NOI $17,644 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$318.2K
$278.4K – $371.2K
NOI $22,274 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Side-by-side duplex with two residential units, private driveway parking, and utility responsibility on tenants.
Where is this duplex located?
The property is located at 3231 Vimy Ridge Avenue Norfolk, VA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Side‑by‑side duplex in Norfolk with Waterfront feature; Unit B renovated in 2025: updated kitchen and bathroom, fresh interior paint, new hot water heater; Unit B includes washer/dryer that convey and is move‑in ready
