Eighteen-Unit One-Bedroom
9324 1st View St Norfolk, VA 23503
9324 1st View St, Norfolk, VA, 23503
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For Sale
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Well-kept 18-unit multifamily property featuring one-bedroom, one-bathroom apartments built in 1978.
Property Size9,896 SF
Lot Size0.40 Acres
Price / SF$234.94
Days on Market198
Property Features for 9324 1st View St
General Information
- Standard status
- Active
- Size
- 9,896 SF
- Lot size
- 0.40 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1978
Listing agency
Marcus & Millichap - Hampton Roads
Listed by
Altay Uzun · License #VA 0225214405
Source
Crexi
Added: Jan 6 Updated: Jul 21 at 3:02AM Checked: Jul 22 at 11:36AM
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 Marcus & Millichap - Hampton Roads
Investment Insights
Based on property information with market context.
This multifamily property for sale includes eighteen units, each configured as one-bedroom and one-bathroom. The building was constructed in 1978 and is situated on 0.40 acres.
The offering is located at 9324 1st View Street in Norfolk, Virginia. The property size is listed as 9,896.
As presented, the building’s unit mix is consistent across the portfolio, making it well-suited for investors seeking a straightforward one-bedroom residential income configuration.
The offering is located at 9324 1st View Street in Norfolk, Virginia. The property size is listed as 9,896.
As presented, the building’s unit mix is consistent across the portfolio, making it well-suited for investors seeking a straightforward one-bedroom residential income configuration.
Key Highlights
- 18‑unit multifamily property
- All apartments are 1‑bedroom, 1‑bath units
- Built in 1978
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $223.3k | $22.56 |
| − Vacancy | −$11.6k | −$1.17 |
| EGI | $211.6k | $21.39 |
| − OpEx | −$95.2k | −$9.62 |
| NOI | $116.4k | $11.76 |
9,896 SF · lease $22.56/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.46M – $1.94M
NOI $116,405 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,950 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Azerahcee Kuishnartic
Food Bank
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FAQs
What type of property is this?
Apartment building - Well-kept 18-unit multifamily property featuring one-bedroom, one-bathroom apartments built in 1978.
Where is this apartment building located?
The property is located at 9324 1st View St Norfolk, VA.
What is the asking price?
The asking price for this property is $2,325,000.
What are key features of this property?
This property features: 18‑unit multifamily property; All apartments are 1‑bedroom, 1‑bath units; Built in 1978
