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Apartment in Norfolk, VA

$1,590,000 Get Pre-Approved

1315 Little Bay Avenue, Norfolk, VA, 23503

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Value-add 12-unit multifamily opportunity: (12) 2-bedroom apartments at 1315 Little Bay Ave with an all-2BR unit mix. Minutes to local beaches with quick access to the interstate and major military bases. Solid brick exterior with strong curb appeal and excellent interstate visibility in a high-traffic corridor. Rents are currently below market, while unit turnovers are in progress—creating a near-term runway to renovate, raise rents, and capture upside without betting on heavy lease-up (vacancy has remained low). On-site common-area laundry adds convenience and potential ancillary income. Pro forma upside through rent lifts and continued unit refreshes. Ideal for an investor seeking stable in-place cash flow plus straightforward value-creation levers.

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Norfolk Expert Agent

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Additional Listing Details:

14 days on HouseJet

Last Refresh: 02/05/2026 03:00:07 AM UTC

MLS #: 10616857

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Agents: Is This Your Listing?

Listing Agent

Christian Phillips

Inlet Realty and Property Management, inc

Phone: 757-675-5164