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    Norfolk, VA Residential Income Properties for Sale

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    87 properties
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    Creekfront Quadplex with Dock Access
    Updated: Oct 18
    Creekfront Quadplex with Dock Access

    765 48th Street, Norfolk, VA 23508

    $1,595,000
    3,810 sqft
    Creek frontage with deep‑water access
    16 docks and boat slips
    3,810 square feet; built in 1920
    Finished basement with full bath, heating and cooling, refrigerator, and sink
    Units 1 and 3 painted in 2025; appliances convey with Unit 1
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    Updated Duplex with Detached Garage
    Updated: Oct 5
    Updated Duplex with Detached Garage

    1139 E Leicester Avenue, Norfolk, VA 23503

    $500,000
    2,400 sqft
    Two units, each with 3 bedrooms and 2 full bathrooms
    2,400 square feet in a building constructed in 1931
    Detached storage garage
    One unit is vacant; the other has been tenant‑occupied since 2021 on a month‑to‑month basis
    2022 work included roof, windows, electrical, downstairs HVAC, flooring, appliances, and paint
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    Waterfront Duplex with Garage Apartment
    Waterfront Duplex with Garage Apartment

    937 Little Bay Avenue, Norfolk, VA 23503

    $575,000
    1,600 sqft

    Waterfront duplex with a detached apartment, private beach, and off-street parking.

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    See hot listings in Norfolk

    Scored against comparables nationwide. These are worth a look.

    Scored against comparables nationwide. These are worth a look.

    Cap Rate available after sign in
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    Renovated Multifamily Building Near Ocean
    Renovated Multifamily Building Near Ocean

    350 Staten St, Norfolk, VA 23503

    $1,390,000
    3,700 sqft

    Fully renovated, eight-unit apartment building near Ocean View Pier.

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    6-Unit Bayfront Multifamily Property
    6-Unit Bayfront Multifamily Property

    840 W Ocean View Avenue, Norfolk, VA 23503

    $1,600,000
    4,020 sqft

    Two adjoining residential buildings pair a waterfront duplex with a fourplex and provide direct beach access.

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    Two-Unit Duplex with Garages
    Two-Unit Duplex with Garages

    8100 Turner Road, Norfolk, VA 23518

    $600,000
    2,192 sqft

    Separate living, dining, kitchen, and laundry areas serve each residence.

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    Individually Metered Quadplex
    Individually Metered Quadplex

    410 W 28th Street, Norfolk, VA 23508

    $675,000
    3,700 sqft

    The four residences are configured in an over-under layout.

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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 Triplex
    Side-by-Side Triplex

    2224 Marshall Avenue, Norfolk, VA 23504

    $499,000
    2,100 sqft

    Three two-bedroom apartments feature recent interior updates, replacement windows, and tenant-paid utilities.

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    Duplex with Separate Yards
    Duplex with Separate Yards

    1551 Spruce Street, Norfolk, VA 23502

    $280,000
    2,100 sqft

    Each residence has its own backyard area, and occupants are responsible for utilities.

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    Side-by-Side Duplex with Separate Yards
    Side-by-Side Duplex with Separate Yards

    1551 Spruce St, Norfolk, VA 23502

    $280,000
    2,100 sqft

    Two units provide distinct bedroom and bathroom layouts, and tenants pay their own utilities.

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    Renovated Over-Under Duplex
    Renovated Over-Under Duplex

    639 W 26th Street, Norfolk, VA 23517

    $329,000
    2,300 sqft

    Both units are leased on 12-month terms, with tenants responsible for utilities.

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    Two-Unit Brick Duplex
    Two-Unit Brick Duplex

    911 Mildred Street, Norfolk, VA 23518

    $330,000
    1,600 sqft

    Both residences are occupied and have separate utility meters.

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    Duplex with Shared Laundry
    Duplex with Shared Laundry

    652 Dune St, Norfolk, VA 23503

    $297,500
    1,900 sqft 0.80 AC lot

    The building has a two-level layout with separate 3-bedroom and 1-bedroom residences.

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    Over-Under Duplex
    Over-Under Duplex

    517 W 29th Street, Norfolk, VA 23508

    $300,000
    2,158 sqft

    Both residences are vacant, with fresh paint and new carpeting in the upper unit.

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    4-Unit Over-Under Quadplex
    4-Unit Over-Under Quadplex

    419 Craig St, Norfolk, VA 23523

    $450,000
    3,000 sqft

    The apartments each offer in-unit laundry, with three residences currently occupied.

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    Duplex with In-Unit Laundry
    Duplex with In-Unit Laundry

    639 W 26th St, Norfolk, VA 23517

    $329,000
    2,300 sqft

    Each residence has a 12-month lease, and tenants cover their utility costs.

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    Separately Metered Duplex
    Separately Metered Duplex

    809 Whitehead Avenue, Norfolk, VA 23523

    $260,000
    1,412 sqft

    The upper residence is rented, and each of the two units has a separate meter.

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

    840 W Ocean View Ave, Norfolk, VA 23503

    $1,600,000
    4,020 sqft

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

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    Two-Unit Side-by-Side Duplex
    Two-Unit Side-by-Side Duplex

    1557 Birch Street, Norfolk, VA 23502

    $257,000
    1,590 sqft

    Both residences have two bedrooms and one full bathroom, with separate HVAC systems replaced in different years.

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    Two-Unit Duplex
    Two-Unit Duplex

    3102 Vimy Ridge Avenue, Norfolk, VA 23509

    $272,000
    1,300 sqft

    The upper and lower units each have one bedroom and one bathroom.

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    Two-Unit Residential Duplex
    Two-Unit Residential Duplex

    4885 Kennebeck Avenue, Norfolk, VA 23513

    $260,000
    1,450 sqft

    Separate upper and lower residences offer distinct bedroom and kitchen layouts.

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    Side-by-Side Duplexes
    Side-by-Side Duplexes

    1147 Modoc Ave, Norfolk, VA 23503

    $350,000
    1,446 sqft

    Two-unit residential property near the beach, offering a flexible owner-occupant or rental arrangement.

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    Over-Under Duplex
    Over-Under Duplex

    652 Dune Street, Norfolk, VA 23503

    $297,500
    1,900 sqft

    Two residential units include a shared laundry room on the ground level.

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    Norfolk, VA Residential Income Properties Market Trends and Statistics

    Explore 87 residential income properties for sale in Norfolk, VA, showcased through 87 active listings on our real estate platform. These investment opportunities span a total of 245,086 square feet of properties for sale, with an estimated market value of $57,601,340.

    Sale prices for residential investment properties in Norfolk, VA start at $175,000, averaging $702,455, 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

    Multifamily properties 85
    Duplexes 59
    Apartment buildings 20
    Quadplexes 5
    Short term rental properties 1

    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 $275K
    23513 $284.8K
    23523 $310K
    23518 $457.5K
    23504 $599.3K

    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 Residential Income pricing trends in Norfolk city

    Residential Income

    Property Size Breakdown

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

    How Realmo verifies these figures

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    Popular Searches in Norfolk, VA

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    Most Searched ZIP Codes in Norfolk, VA

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

    Featured Norfolk Real Estate Agencies

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

    Exit Realty Central
    870 N. Military Highway Suite 100 Norfolk, VA 23502
    Phone: (757) 466-1009
    www.exitcentralhr.com
    Judy Boone Realty
    809 E. Ocean View Avenue Norfolk, VA 23503
    Phone: (757) 587-2800
    www.judyboonerealty.com
    Gabriel Rapisardi Real Estate Group LLC
    P.O. Box 8455 Norfolk, VA 23503
    Phone: (757) 577-2902
    www.gabrielrapisardi.com
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