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    Norfolk, VA
    Residential Income

    Norfolk, VA Residential Income Properties for Sale

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    Portsmouth, VA Chesapeake, VA Virginia Beach, VA Suffolk, VA Hampton, VA Newport News, VA Carrollton, VA Smithfield, VA
    39 properties
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    Brick Side-by-Side Duplex
    Updated: Jul 17
    Brick Side-by-Side Duplex

    5220 Kennebeck Avenue, Norfolk, VA 23513

    $299,900
    1,600 sqft
    Brick side‑by‑side duplex built in 1962 with waterfront feature
    Private yard for each resident with separate meters and tenants pay all utilities except storm water ($35/month)
    2024 full refresh including new paint, new flooring, and new appliances, plus window units
    Central heat with washer and dryer connections; eat‑in kitchen with pantry and lots of storage
    Roof is approximately 10 years old and property is under termite contract
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    This listing looks promising.

    Here's a quick look at some key insights for

    5220 Kennebeck Avenue, Norfolk, VA 23513

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    • Est. Cap Rate

      7%
      Above avg (5.9%)

    • Est. NOI

      $21K
      Annual

    • Price @ 7% Cap

      $299K
      Suggested

    • Property Type

      Duplex
      Built 1962
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    Four-Unit Quadplex for Sale
    Updated: Jul 8
    Four-Unit Quadplex for Sale

    840 W Ocean View Avenue, Norfolk, VA 23503

    $1,850,000
    4,020 sqft
    Four‑unit multifamily property with Waterfront feature
    Built in 1984 with a shingle roof
    Each unit has its own washer and dryer
    Seller can provide a termite and moisture letter
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    Quadruplex with Individually Metered Units
    Quadruplex with Individually Metered Units

    410 W 28th Street, Norfolk, VA 23508

    $750,000
    3,700 sqft

    Four recently updated units with individual meters offer a straightforward residential income setup in Norfolk’s Park Place area.

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    Renovation-Needed Multifamily Building
    Renovation-Needed Multifamily Building

    915 W 26th Street, Norfolk, VA 23517

    $600,000
    3,168 sqft 0.13 AC lot

    Multifamily apartment property in I-1 zoning with room to add value through renovations and possible adjacent parcel expansion.

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    Historic Norfolk Building For Sale
    Historic Norfolk Building For Sale

    303 W. 34th Street, Norfolk, VA 23508

    $975,000
    31,645 sqft 0.68 AC lot

    31,645 SF historic landmark building in desirable Ghent Corridor.

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    Updated Duplex with Private Yards
    Updated Duplex with Private Yards

    1012 Balview Avenue, Norfolk, VA 23503

    $525,000
    2,656 sqft

    For sale duplex in Ocean View offering two 3-bedroom, 2-bath units with private back yards.

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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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    Waterfront Quadplex with Docks
    Waterfront Quadplex with Docks

    765 48th Street, Norfolk, VA 23508

    $1,600,000
    3,810 sqft

    Four-unit quadplex with a finished basement and direct creek access plus 16 docks and boat slips.

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    Multifamily Apartment Portfolio
    Multifamily Apartment Portfolio

    9631 SALEM ST, Norfolk, VA 23503

    $2,700,000
    10,800 sqft 2.83 AC lot

    Eighteen one-bedroom, one-bath units in a 1955-built multifamily portfolio on 2.83 acres.

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    Updated Duplex with Separate Entrances
    Updated Duplex with Separate Entrances

    9523 18th Bay Street, Norfolk, VA 23518

    $475,000
    2,214 sqft

    Two residential units each have separate entrances and dedicated driveways, with updated interiors and multiple bedroom and bath layouts.

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    All-Brick Eight-Unit Apartment Building
    All-Brick Eight-Unit Apartment Building

    350 Staten Street, Norfolk, VA 23503

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

    Fully renovated eight-unit apartment building with on-site laundry and assigned parking; all units occupied.

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    Norfolk Mixed-Use Investment Opportunity
    Norfolk Mixed-Use Investment Opportunity

    2811-2815 Colonial Avenue, Norfolk, VA 23508

    $1,900,000
    19,545 sqft 0.86 AC lot

    Eleven units, single-family home, and retail space for sale.

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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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    Eighteen-Unit One-Bedroom Apartment
    Eighteen-Unit One-Bedroom Apartment

    9324 1st View St, Norfolk, VA 23503

    $2,325,000
    9,896 sqft 0.40 AC lot

    Well-kept 18-unit multifamily property featuring one-bedroom, one-bathroom apartments built in 1978.

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    Three-Unit Triplex with Back Deck
    Three-Unit Triplex with Back Deck

    244 Ethel Avenue, Norfolk, VA 23504

    $499,900
    2,250 sqft

    Triplex with three separate units, including a renovated third unit and a back deck.

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    Renovated Duplex with Shared Backyard
    Renovated Duplex with Shared Backyard

    9220 Atwood Avenue, Norfolk, VA 23503

    $389,000
    1,600 sqft

    Over/under duplex features new flooring, cabinets, countertops, and appliances, with a large shared backyard.

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    Mixed-Use Property in Norfolk, VA
    Mixed-Use Property in Norfolk, VA

    2811 Colonial Ave, Norfolk, VA 23508

    $1,900,000
    0.86 AC lot

    Eleven units, single-family home, and retail space for sale.

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    Updated Over-Under Duplex
    Updated Over-Under Duplex

    415 Middlesex Street, Norfolk, VA 23523

    $350,000
    1,580 sqft

    Over-under duplex with recent updates, offering two-bedroom, one-bath units with central air and heating.

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    Norfolk Multifamily Investment Opportunity
    Norfolk Multifamily Investment Opportunity

    9631 Salem St, Norfolk, VA 23503

    $2,610,000
    2.83 AC lot

    Eighteen-unit multifamily property in Norfolk, Virginia, on 2.83 acres.

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    Turnkey Quadplex with Private Decks
    Turnkey Quadplex with Private Decks

    1439 W Ocean View Avenue, Norfolk, VA 23503

    $898,000
    3,200 sqft

    Turnkey quadplex offers separate electric metering and private decks for each unit.

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    Norfolk Multifamily Investment Opportunity
    Norfolk Multifamily Investment Opportunity

    230 E 40th St, Norfolk, VA 23504

    $3,195,000
    0.33 AC lot

    16-unit multifamily community in Norfolk, Virginia.

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    Duplex with Bay-View Apartment
    Duplex with Bay-View Apartment

    1607 E Ocean View Avenue, Norfolk, VA 23503

    $499,900
    2,228 sqft

    Duplex with two separately equipped units, including an upstairs 1-bedroom with water views.

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    Norfolk Multifamily Investment Opportunity
    Norfolk Multifamily Investment Opportunity

    1208 W Ocean View Ave, Norfolk, VA 23503

    $1,800,000
    4,347 sqft 0.46 AC lot

    Thirteen-unit multifamily property in Norfolk, Virginia.

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    Mixed-Use Retail and Residential Building
    Mixed-Use Retail and Residential Building

    5010 Princess Anne Road E, Norfolk, VA 23502

    $1,949,800
    17,500 sqft 0.45 AC lot

    Mixed-use property with retail and residential units plus office space, sold as-is with 100% occupancy.

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    Norfolk, VA Residential Income Properties Market Trends and Statistics

    Explore 71 residential income properties for sale in Norfolk, VA, showcased through 39 active listings on our real estate platform. These investment opportunities span a total of 169,158 square feet of properties for sale, with an estimated market value of $37,926,500.

    Sale prices for residential income properties in Norfolk, VA start at $230,000, averaging $1,185,203, and reaching up to $3,195,000 — 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

    Multifamily properties 39
    Apartment buildings 18
    Duplexes 12
    Quadplexes 6
    Short term rental properties 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 $230K
    23513 $285K
    23517 $474.5K
    23518 $885K
    23523 $925K

    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)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Norfolk city

    Office

    Property Size Breakdown

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

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    Most Searched ZIP Codes in Norfolk, VA

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

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