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207 12th St

Virginia Beach, VA 23451
  • $1,800,000
  • STATUS: Active
  • ON SITE: 56 Days
  • ID#: 10505559
UPDATED: 38 min ago
$1,800,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Beach Borough
Type:
Multi-Family
Built:
1920
Area:
43 - Northeast Virginia Beach

School Information

Elementary School:
W.T. Cooke Elementary
Middle School:
Virginia Beach Middle
High School:
First Colonial
School Ratings & Info

Description

Don't miss out on this rare multi-family investment opportunity at the Virginia Beach Oceanfront! This 4-unit apartment was completely renovated top-to-bottom in 2020 along with an approved Short Term Rental CUP from the city within the Resort Area STR overlay. In the heart of the oceanfront resort district, it is one block from the beach, around the corner from Norfolk Ave and the Vibe District, and only 7 blocks from the wave park at Atlantic Park on 19th St. In addition to the premier location, every major system was replaced in 2020 and features like new appliances and a generator were added. With 2022 revenue stabilized at $115k NOI, this property offers turnkey cash flow in an incredible location. You can keep the current full-service property management, or manage it directly to increase profitability.

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www.vr-va.com/homes/144103509
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207 12th St Virginia Beach, VA 23451

  • Price: $1,800,000
  • Status: Active
  • On Site: 56 Days
  • Updated: 38 min ago
  • ID#: 10505559
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1920
Built
Neighborhood:
Beach Borough
Area:
43 - Northeast Virginia Beach
Elementary School:
W.T. Cooke Elementary
Middle School:
Virginia Beach Middle
High School:
First Colonial
Property Description
Don't miss out on this rare multi-family investment opportunity at the Virginia Beach Oceanfront! This 4-unit apartment was completely renovated top-to-bottom in 2020 along with an approved Short Term Rental CUP from the city within the Resort Area STR overlay. In the heart of the oceanfront resort district, it is one block from the beach, around the corner from Norfolk Ave and the Vibe District, and only 7 blocks from the wave park at Atlantic Park on 19th St. In addition to the premier location, every major system was replaced in 2020 and features like new appliances and a generator were added. With 2022 revenue stabilized at $115k NOI, this property offers turnkey cash flow in an incredible location. You can keep the current full-service property management, or manage it directly to increase profitability.
Exterior Features

Construction BlockFrame Exterior Siding MasonryStucco Foundation Type Basement Garage YN No Parking LotOff StreetDriveway Spc Roof Asphalt Shingle

Interior Features

Cooling Central AirHeat Pump Flooring Type CeramicWood Furnished YN No Heating Heat PumpProgrammable Thermostat Ranges 4 Refrigerators 4 Water Heater Type Electric

Property Features

Apartment Type Highrise Commission Amt Sell Bkr 3 Contingency Exists Non Contingent Disclosure Disclosure Statement Features CableWaterview Neighborhood Name BEACH-EAST Ownership Type Simple Possession CLOSING Tax Amount Approx 9626 Utilities City SewerCity Water Zoning RT2

Real Estate Information Network logoListing provided courtesy of The Real Estate Group: 757-961-9090
© 2023 REIN, Inc. Information Deemed Reliable But Not Guaranteed.


Real Estate Information Network logo© The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN, therefore, makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent. © 2023 REIN. REIN's listings Data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of Data and information. The Duplicate Listings Disclaimer is as follows: Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW. REIN updates its listings on a daily basis. Data last updated: 2023-12-01T16:36:30.247.
 
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Verian Realty
3101 Virginia Beach Blvd, Suite 108
Virginia Beach VA, 23452