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    Norfolk, VA
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    Norfolk, VA Multifamily Properties for Sale

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    Two-Unit Waterfront Duplex
    Updated: Aug 5
    Two-Unit Waterfront Duplex

    1013 Elkin Street, Norfolk, VA 23523

    $308,500
    2,205 sqft
    Two separate living spaces with individual entrances and utility meters
    First‑floor unit includes 3 bedrooms and 1 full bath
    Second‑floor unit includes 2 bedrooms and 1 full bath
    2,205 square feet on a waterfront property
    Built in 1914 with a shingle roof
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    This listing looks promising.

    Here's a quick look at some key insights for

    1013 Elkin Street, Norfolk, VA 23523

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    • Est. Cap Rate

      8.4%
      Above avg (5.9%)

    • Est. NOI

      $26K
      Annual

    • Price @ 7% Cap

      $371K
      Above asking

    • Property Type

      Duplex
      Built 1914
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    Four-Unit Waterfront Quadplex
    Updated: Aug 19
    Four-Unit Waterfront Quadplex

    1874 Kingston Avenue, Norfolk, VA 23503

    $549,900
    4,400 sqft
    Four‑unit quadplex with 4,400 square feet
    Each apartment includes 2 bedrooms and 1 bathroom
    Four matching floor plans throughout the building
    Remodeled kitchens in all units
    Waterfront property in Norfolk
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    Updated Waterfront Quadplex
    Updated Waterfront Quadplex

    742 Shirley Avenue, Norfolk, VA 23517

    $675,000
    4,190 sqft

    Four-unit residential property with updated interiors, waterfront designation, and a mix of rented and owner-occupied units.

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    Waterfront Quadplex Package
    Waterfront Quadplex Package

    840 W Ocean View Avenue, Norfolk, VA 23503

    $1,850,000
    4,020 sqft

    Six-unit waterfront property combining a duplex and fourplex with direct beach access.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    New Construction Duplex
    New Construction Duplex

    8100 Turner Rd, Norfolk, VA 23518

    $650,000
    2,192 sqft

    Two distinct residences include private living, dining, kitchen, laundry, and garage areas.

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    Waterfront Duplex with Garages
    Waterfront Duplex with Garages

    8100 Turner Road, Norfolk, VA 23518

    $625,000
    2,192 sqft

    Two separate residences feature kitchens, laundry areas, living spaces, and individual garages.

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    Four-Unit Apartment Building
    Four-Unit Apartment Building

    143 W Balview Avenue, Norfolk, VA 23503

    $650,000
    2,600 sqft

    Four 1BR/1BA units with separate gas and electric meters, plus shared water and on-site laundry.

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    Updated Waterfront Quadplex
    Updated Waterfront Quadplex

    410 W 28th Street, Norfolk, VA 23508

    $750,000
    3,700 sqft

    Four individually metered residences with recent updates and R-11 zoning.

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    Mixed-Use Property with Retail
    Mixed-Use Property with Retail

    5010 Princess Anne Rd E, Norfolk, VA 23502

    $1,149,800
    17,500 sqft

    Two-level configuration combines commercial spaces with residential tenants in an established Norfolk property.

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    Side-by-Side Duplex with Creek
    Side-by-Side Duplex with Creek

    4204 Mayflower Road, Norfolk, VA 23508

    $288,500
    1,600 sqft

    As-is two-unit property with R-8 zoning and renovation potential.

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    Updated Over-Under Duplex
    Updated Over-Under Duplex

    717 W 35th Street, Norfolk, VA 23508

    $314,900
    1,680 sqft

    Two residential units offer flexible owner-occupant or rental use with recent improvements throughout the property.

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    Updated Duplex with Private Yards
    Updated Duplex with Private Yards

    1012 Balview Ave, Norfolk, VA 23503

    $525,000
    2,656 sqft

    Two residential units provide three bedrooms, two baths, and individual backyard space.

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    Side-by-Side Duplex with Parking
    Side-by-Side Duplex with Parking

    3231 Vimy Ridge Avenue, Norfolk, VA 23509

    $345,000
    1,500 sqft

    Side-by-side duplex with two residential units, private driveway parking, and utility responsibility on tenants.

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    Renovated Side-by-Side Duplex
    Renovated Side-by-Side Duplex

    325 W 37th Street, Norfolk, VA 23508

    $385,000
    2,150 sqft

    Vacant two-unit property with refreshed interiors and separate washer-dryer hookups in each residence.

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    Quadplex with In-Unit Laundry
    Quadplex with In-Unit Laundry

    840 W Ocean View Ave, Norfolk, VA 23503

    $1,850,000
    4,020 sqft

    Four-unit rental property near Chesapeake Bay, beaches, shopping, dining, and major military installations.

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    Renovated 8-Unit Apartment Building
    Renovated 8-Unit Apartment Building

    350 Staten Street, Norfolk, VA 23503

    $1,390,000
    3,700 sqft 0.16 AC lot

    All units are furnished and remodeled, with granite countertops, custom cabinetry, new appliances, and on-site laundry.

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    Over-Under Duplex
    Over-Under Duplex

    1045 W 37th Street, Norfolk, VA 23508

    $425,000
    1,600 sqft

    Waterfront duplex with separate upper and lower residences and both driveway and street parking.

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    Remodeled Two-Unit Duplex
    Remodeled Two-Unit Duplex

    2520 Barre St, Norfolk, VA 23504

    $385,000
    1,800 sqft

    Two-bedroom residences feature updated HVAC, water heaters, windows, and roofing.

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    Side-by-Side Duplex
    Side-by-Side Duplex

    1252 Norview Avenue, Norfolk, VA 23513

    $234,900
    1,423 sqft

    Two-unit residential property with renovation needs, R-11 zoning, and waterfront features.

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    As-Is Duplex Property
    As-Is Duplex Property

    4204 Mayflower Rd, Norfolk, VA 23508

    $288,500
    1,600 sqft

    Two-unit residential property near shopping, dining, Downtown Norfolk, ODU, military bases, and major roadways.

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    Updated Historic District Quadplex
    Updated Historic District Quadplex

    742 Shirley Ave, Norfolk, VA 23517

    $675,000
    4,190 sqft

    Four-unit property with updated interiors and three units currently leased.

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    Over-Under Duplex with Updates
    Over-Under Duplex with Updates

    415 Middlesex Street, Norfolk, VA 23523

    $350,000
    1,580 sqft

    Over-under duplex in R-8 zoning with central air and heat, and each unit has 2 beds and 1 bath.

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    As-Is Multifamily Property
    As-Is Multifamily Property

    3941 Omohundro Ave, Norfolk, VA 23504

    $455,000
    2,730 sqft

    Older multifamily asset requiring permitted repairs and city inspections before code-compliant occupancy.

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    Remodeled Two-Unit Duplex
    Remodeled Two-Unit Duplex

    2520 Barre Street, Norfolk, VA 23504

    $385,000
    1,800 sqft

    Waterfront duplex with two updated two-bedroom residences and major building-system improvements.

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    Norfolk, VA Multifamily Properties Market Trends and Statistics

    Explore 92 multifamily properties for sale in Norfolk, VA, showcased through 92 active listings on our real estate platform. These investment opportunities span a total of 328,198 square feet of properties for sale, with an estimated market value of $47,022,300.

    Sale prices for multifamily properties in Norfolk, VA start at $199,000, averaging $783,705, and reaching up to $4,000,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Duplexes 42
    Apartment buildings 35
    Quadplexes 9
    Triplexes 2

    Demographics Overview

    Population 235K
    Population Growth (5Y) -4.3%
    Median Household Income $64,747
    College Educated 29.0%

    High-Yield Neighborhoods for Investment

    Identify Norfolk submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    23509 $287.5K
    23513 $350K
    23523 $350K
    23518 $475K
    23517 $600K

    Taxes & Financing

    Tax Rate (average for all types) 1.27%
    Property Tax per SF $9.43 per SF
    Tax Rate vs County Average 0.01 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Norfolk city

    New Delisted

    Total CRE Inventory on Market (SF)

    Property Size Breakdown

    The majority of commercial real estate listings in Norfolk fall within the 100,000+ square foot range.

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    Popular Searches in Norfolk, VA

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    Most Searched ZIP Codes in Norfolk, VA

    • 23503
    • 23508
    • 23504
    • 23513
    • 23505
    • 23517
    • 23518
    • 23509
    • 23507
    • 23523
    • 23502

    Featured Norfolk Real Estate Agencies

    Realmo connects you with licensed Norfolk CRE brokers providing property specifications, local market pricing, and commercial transaction underwriting support.

    Judy Boone Realty
    809 E. Ocean View Avenue Norfolk, VA 23503
    Phone: 17575872800
    www.judyboonerealty.com

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