410 W 28th Street Norfolk, VA 23508
MULTI_FAMILY - Norfolk, VA
Property Features for 410 W 28th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-11
- Standard status
- Active
- Size
- 3,700 SF
Taxes and HOA fees
- Tax Annual Amount
- 3859
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1964
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Eric Hovik License #225214347 (757) 456-2345
Listing office RE/MAX Alliance 4701 Columbus Street #200, Virginia Beach, VA (757) 456-2345
Listing date Jul 2, 2026
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Investment Insights
Based on property information with market context.
Set in Norfolk’s Park Place neighborhood, the home is positioned near Norfolk’s shipyards and downtown Norfolk. It is also stated to fall within the Maury High, Blair Middle, and St. Helena Elementary School Districts. Zoning is listed as R-11.
For buyers seeking a small multifamily residential income property, the individual metering and multi-unit configuration can simplify operations compared with a single-meter setup. Its four-unit layout may appeal to owner-operators or investors looking for a compact portfolio asset, with the proximity to major Norfolk employment and education areas serving as a practical consideration for tenant sourcing.
Key Highlights
- Waterfront property (Waterfront feature) in Norfolk
- Quadruplex built in 1964 with shingle roof
- Four units, each approximately 925 sq ft
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 | $73.3k | $19.80 |
| − Vacancy | −$4.0k | −$1.09 |
| EGI | $69.2k | $18.71 |
| − OpEx | −$20.8k | −$5.61 |
| NOI | $48.5k | $13.10 |
