Two-Unit
For Sale
$285,000
6342 Glenoak Dr, Norfolk, VA 23513
Both apartments are leased, with separate layouts and outdoor living areas on a corner lot.
Property Size2,200 SF
Price / SF$129.55
Days on Market9
Property Features for 6342 Glenoak Dr
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$285,000
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Long & Foster Real Estate Inc
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Oct 7
Changed: Oct 13
Last Checked: Oct 14 at 11:28PM
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 Long & Foster Real Estate Inc
Investment Insights
Based on property information with market context.
This Norfolk duplex contains two leased apartments. The lower unit has three bedrooms and one bathroom, along with living and dining rooms, an eat-in kitchen, a laundry area, and a screened porch. The upper apartment offers two bedrooms, one updated bathroom, an updated kitchen, and a covered balcony. The property was built in 1950 and is being sold as-is.
Set on a corner lot at 6342 Glenoak Dr, the building provides two distinct apartment layouts within one property. Both units are currently occupied by tenants.
Set on a corner lot at 6342 Glenoak Dr, the building provides two distinct apartment layouts within one property. Both units are currently occupied by tenants.
Key Highlights
- Two apartments, both currently leased
- Lower apartment: 3 bedrooms, 1 bathroom, eat‑in kitchen, laundry area, and screened porch
- Upper apartment: 2 bedrooms, 1 updated bathroom, updated kitchen, and covered balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,878
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,560
$517.6K
Cap Rate 7%
$369,686
$369.7K
Cap Rate 9%
$287,533
$287.5K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$49.6K $22.56/SF
− Vacancy
−$2.6K −$1.17/SF
EGI
$47.1K $21.39/SF
− OpEx
−$21.2K −$9.62/SF
NOI
$25.9K $11.76/SF
Area
Norfolk, VA
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,560
Cap Rate 7%
$369,686
Cap Rate 9%
$287,533
Alternative Uses
Best Use
Multifamily LT 5
$411.6K
$360.2K – $480.3K
NOI $28,815 @ 7.0% cap · market cap 10.11%
Second Best
Apartment 5plus
$369.7K
$323.5K – $431.3K
NOI $25,878 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$466.7K
$408.4K – $544.5K
NOI $32,669 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are leased, with separate layouts and outdoor living areas on a corner lot.
Where is this duplex located?
The property is located at 6342 Glenoak Dr Norfolk, VA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two apartments, both currently leased; Lower apartment: 3 bedrooms, 1 bathroom, eat‑in kitchen, laundry area, and screened porch; Upper apartment: 2 bedrooms, 1 updated bathroom, updated kitchen, and covered balcony
