Two-Unit Residential
For Sale
$260,000
Pending
4885 Kennebeck Ave, Norfolk, VA 23513
Two-level duplex with separate kitchens and distinct bedroom layouts across the units.
Property Size1,450 SF
Days on Market52
Property Features for 4885 Kennebeck Ave
General Information
Standard status
Pending
Size
1,450 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Foxhall
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Listing Agency:
RE/MAX Prime
Listed By:
Crush Real State Group
(757) 690-2300
Source:
Wesellhamptonroadsva
Added: Sep 5
Changed: Oct 26
Last Checked: Oct 24 at 5:10PM
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 RE/MAX Prime
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Investment Insights
Based on property information with market context.
Built in 1950, this duplex includes a two-bedroom, one-bathroom lower unit with a living room, dining room, and kitchen. The lower kitchen is equipped with a gas range, dishwasher, and microwave, and includes a washer/dryer hookup.
The upper unit provides one bedroom, one bathroom, and a kitchen with a refrigerator and gas stove hookup. The property contains 1,450 of stated property size and is located at 4885 Kennebeck Ave in Norfolk, Virginia.
The upper unit provides one bedroom, one bathroom, and a kitchen with a refrigerator and gas stove hookup. The property contains 1,450 of stated property size and is located at 4885 Kennebeck Ave in Norfolk, Virginia.
Key Highlights
- Duplex with 2‑bedroom lower unit and 1‑bedroom upper unit
- Lower unit includes living room, dining room, and kitchen
- Lower kitchen has gas range, dishwasher, and microwave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,992
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,840
$379.8K
Cap Rate 7%
$271,314
$271.3K
Cap Rate 9%
$211,022
$211.0K
Market Conditions
NOI Build-Up for 1,450 SF
Gross rent
$28.7K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$27.1K $18.71/SF
− OpEx
−$8.1K −$5.61/SF
NOI
$19.0K $13.10/SF
Area
Norfolk, 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%
$379,840
Cap Rate 7%
$271,314
Cap Rate 9%
$211,022
Alternative Uses
Best Use
Multifamily LT 5
$271.3K
$237.4K – $316.5K
NOI $18,992 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$243.7K
$213.2K – $284.3K
NOI $17,056 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$307.6K
$269.2K – $358.9K
NOI $21,532 @ 7.0% cap · market cap 8.28%
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
507
Businesses Nearby
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Business Placement
Demographics for 23513, VA
29,105
Population
13,040
Households
2.2
Avg Household Size
35
Median Age
22%
College-Educated
87%
High-School Grad
5.1 sq mi
ZIP Area
5,707
Density / Sq Mi
$66,875
Median Household Income
$39,547
Median Earnings
$1,187
Median Rent
$226,900
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 - Two-level duplex with separate kitchens and distinct bedroom layouts across the units.
Where is this duplex located?
The property is located at 4885 Kennebeck Ave Norfolk, VA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Duplex with 2‑bedroom lower unit and 1‑bedroom upper unit; Lower unit includes living room, dining room, and kitchen; Lower kitchen has gas range, dishwasher, and microwave
