Renovated Duplex with Fenced
For Sale
$295,000
606 Walker Ave, Norfolk, VA 23523
Two separately metered residences offer flexible owner-occupant or rental use near downtown Norfolk.
Property Size1,676 SF
Price / SF$176.01
Days on Market48
Property Features for 606 Walker Ave
General Information
Standard status
Active
Size
1,676 SF
Property subtype
Multi-Family
Occupancy
50%
Site & Location
Neighborhood
Berkley
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit washer/dryer
fenced-in backyard
storage shed
front porch
separate unit meters
Building Details
Year Built
1910
Buildings
1
Tenancy
Single
Listing Agency:
BHHS RW Towne Realty
Listed By:
Crush Real State Group
(757) 690-2300
Source:
Wesellhamptonroadsva
Added: Sep 18
Changed: Nov 3
Last Checked: Nov 3 at 6:37AM
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.
The 1,676-square-foot duplex at 606 Walker Ave includes two 2-bedroom, 1-bath units, each with a kitchen and living room. The property was built in 1910 and recently renovated with LVP flooring, newer appliances, in-unit laundry, a fenced backyard, storage shed, and front porch. Each residence is separately metered.
One unit is leased through 11/30/26, while the second is vacant for an owner occupant or a new tenant. The property is located minutes from downtown Norfolk and near major hospitals, universities, and employment centers.
One unit is leased through 11/30/26, while the second is vacant for an owner occupant or a new tenant. The property is located minutes from downtown Norfolk and near major hospitals, universities, and employment centers.
Key Highlights
- Two 2‑bedroom, 1‑bath units within a 1,676‑square‑foot duplex
- Recently renovated with LVP flooring and newer appliances
- Each unit is separately metered and includes in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,952
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$439,040
$439.0K
Cap Rate 7%
$313,600
$313.6K
Cap Rate 9%
$243,911
$243.9K
Market Conditions
NOI Build-Up for 1,676 SF
Gross rent
$33.2K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$31.4K $18.71/SF
− OpEx
−$9.4K −$5.61/SF
NOI
$22.0K $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%
$439,040
Cap Rate 7%
$313,600
Cap Rate 9%
$243,911
Alternative Uses
Best Use
Multifamily LT 5
$313.6K
$274.4K – $365.9K
NOI $21,952 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$281.6K
$246.4K – $328.6K
NOI $19,714 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$355.5K
$311.1K – $414.8K
NOI $24,888 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
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Business Placement
Demographics for 23523, VA
7,061
Population
3,472
Households
2
Avg Household Size
33
Median Age
13%
College-Educated
82%
High-School Grad
2.1 sq mi
ZIP Area
3,362
Density / Sq Mi
$37,189
Median Household Income
$35,456
Median Earnings
$986
Median Rent
$222,000
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 separately metered residences offer flexible owner-occupant or rental use near downtown Norfolk.
Where is this duplex located?
The property is located at 606 Walker Ave Norfolk, VA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within a 1,676‑square‑foot duplex; Recently renovated with LVP flooring and newer appliances; Each unit is separately metered and includes in‑unit laundry
