3941 Omohundro Avenue, Norfolk, VA 23504
- Added:
- Dec 10, 2025
- Days on Market:
- 196
- Last Refresh:
- Jun 24 at 11:06 pm
Property Features for 3941 Omohundro Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-8
- Standard status
- Active
- Size
- 2,730 SF
Taxes and HOA fees
- Tax Annual Amount
- 5460
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1922
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Ryan Forsberg (757) 216-9222
Listing office Swell Realty Co 2122 General Booth Blvd. #105, Virginia Beach, VA (757) 216-9222
Listing date Dec 10, 2025
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
- Waterfront property
- Built in 1922
- As‑is sale with short sale contingent on third‑party approval
- Outstanding code violations include electrical, HVAC, decking, meter base, plumbing, and more
- Repairs must be permitted and inspected by the City of Norfolk; utilities will not be provided for inspections
- Shingle roof
Overview
The property is located at 3941 Omohundro Avenue in Norfolk, Virginia and is listed under R-8 zoning. The sale is also described as a short sale contingent on third-party approval.
For buyers and investors, this offering may be best suited to those prepared to manage city-permitted repairs and inspections. Because utilities will not be provided for inspections, due diligence should be planned accordingly. Prospective purchasers should factor the scope of required work and the permitting and inspection process into their timeline and underwriting.
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 | $61.6k | $22.56 |
| − Vacancy | −$3.2k | −$1.17 |
| EGI | $58.4k | $21.39 |
| − OpEx | −$26.3k | −$9.62 |
| NOI | $32.1k | $11.76 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Norfolk
- County
- Norfolk
- State
- Virginia
- Longitude
- -76.282929
- Latitude
- 36.882748
