Side-by-Side
New
For Sale
$585,000
505 Barberton Drive, Virginia Beach, VA 23451
Multi Family Residential, Side by Side, Virginia Beach, VA
Property Size2,100 SF
Price / SF$278.57
Days on Market2
Property Features for 505 Barberton Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
A18
Subdivision
ALL OTHERS AREA 43
Elementary school
Seatack Elementary
Middle school
Virginia Beach Middle
Standard status
Active
Size
2,100 SF
Taxes and HOA fees
Tax Annual Amount
4196
Building Details
Year built
1979
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty LLC
Listed By:
Mel Volland
(866) 825-7169
Added: Oct 21
Changed: Oct 22
Last Checked: Oct 22 at 2:06PM
MLS# 10658516
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.
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Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,100 square feet across two units. Built in 1979, the property has a shingle roof, a newer roof covering, and a recently paved driveway and walkway. Unit 505 has updated HVAC equipment and a water heater, while the lease for Unit 507 runs through May 31, 2027.
The property is 1 mile from the Virginia Beach Oceanfront, Atlantic Park Surf, and the Vibe Creative District.
The property is 1 mile from the Virginia Beach Oceanfront, Atlantic Park Surf, and the Vibe Creative District.
Key Highlights
- 2,100‑square‑foot side‑by‑side duplex
- Unit 507 lease expires May 31, 2027
- Unit 505 has new HVAC and water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,505
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,100
$550.1K
Cap Rate 7%
$392,929
$392.9K
Cap Rate 9%
$305,611
$305.6K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$41.6K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.3K $18.71/SF
− OpEx
−$11.8K −$5.61/SF
NOI
$27.5K $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%
$550,100
Cap Rate 7%
$392,929
Cap Rate 9%
$305,611
Alternative Uses
Best Use
Multifamily LT 5
$392.9K
$343.8K – $458.4K
NOI $27,505 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$364.1K
$318.6K – $424.8K
NOI $25,490 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$538.7K
$471.4K – $628.5K
NOI $37,710 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 23451, VA
44,879
Population
24,897
Households
1.8
Avg Household Size
41
Median Age
57%
College-Educated
97%
High-School Grad
19.8 sq mi
ZIP Area
2,267
Density / Sq Mi
$97,945
Median Household Income
$57,472
Median Earnings
$1,697
Median Rent
$591,300
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 adjoining residences offer separate living space, with one unit leased through May 31, 2027.
Where is this duplex located?
The property is located at 505 Barberton Drive Virginia Beach, VA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 2,100‑square‑foot side‑by‑side duplex; Unit 507 lease expires May 31, 2027; Unit 505 has new HVAC and water heater
