Two-Unit Duplex with Rear
4459 Ocean View Ave, Virginia Beach, VA 23455
For Sale
$899,000
Both residences offer two bedrooms and one-and-a-half baths, with distinct layouts and features.
Property Size2,688 SF
Price / SF$334.45
Days on Market18
Property Features for 4459 Ocean View Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
granite countertops
front porch
wood burning fireplace
large deck
spacious backyard
detached shed
Listing Agency:
BHHS RW Towne Realty
(757) 422-2200
Listed By:
Matthew Zachary
(757) 690-0439
Source:
Exprealty
Added: Oct 22
Changed: Nov 3
Last Checked: Nov 6 at 9:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS RW Towne Realty
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Investment Insights
Based on property information with market context.
This 2,688-square-foot front-and-back duplex contains two residences, each with two bedrooms and 1.5 bathrooms. The rear unit is larger and includes an additional living area, a kitchen with granite countertops, an updated full bath, and a larger primary bedroom with a spacious closet. A deck opens to the backyard, where a detached shed is located. The front residence has a porch and an open connection between the kitchen and living room, anchored by a wood-burning fireplace.
The property is situated just off the beach. The two units have different interior configurations and separate outdoor features, including the front porch and the rear unit’s deck and backyard.
The property is situated just off the beach. The two units have different interior configurations and separate outdoor features, including the front porch and the rear unit’s deck and backyard.
Key Highlights
- 2,688‑square‑foot duplex with front and rear residences
- Each unit has 2 bedrooms and 1.5 bathrooms
- Rear unit features an extra living area, granite‑counter kitchen, updated full bath, and larger primary bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,207
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,140
$704.1K
Cap Rate 7%
$502,957
$503.0K
Cap Rate 9%
$391,189
$391.2K
Market Conditions
NOI Build-Up for 2,688 SF
Gross rent
$53.2K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$50.3K $18.71/SF
− OpEx
−$15.1K −$5.61/SF
NOI
$35.2K $13.10/SF
Area
Virginia Beach, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$704,140
Cap Rate 7%
$502,957
Cap Rate 9%
$391,189
Alternative Uses
Best Use
Multifamily LT 5
$503.0K
$440.1K – $586.8K
NOI $35,207 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$466.1K
$407.8K – $543.8K
NOI $32,627 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$689.6K
$603.4K – $804.5K
NOI $48,269 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
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Business Placement
Demographics for 23455, VA
50,599
Population
22,286
Households
2.3
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
3,329
Density / Sq Mi
$88,223
Median Household Income
$49,119
Median Earnings
$1,610
Median Rent
$397,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms and one-and-a-half baths, with distinct layouts and features.
Where is this duplex located?
The property is located at 4459 Ocean View Ave Virginia Beach, VA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,688‑square‑foot duplex with front and rear residences; Each unit has 2 bedrooms and 1.5 bathrooms; Rear unit features an extra living area, granite‑counter kitchen, updated full bath, and larger primary bedroom
