2504 Arctic Avenue, Northeast Virginia Beach, VA 23451
- $1,200,000
- List Price
- $1,200,000
- Status
- NEW LISTING
- MLS#
- 10659207
- Year Built
- 1935
- County
- Virginia Beach VA
- City
- Northeast Virginia Beach
- Subdivision
- Beach Borough
Property Description
Rare opportunity to acquire a 5-unit multi-family property in highly desirable Old Beach, 2 blocks from beach. Massive upside potential. Irreplaceable acquisition opportunity w/2 separate structures. 2 units positioned for immediate premium rehab & market-rent stabilization. 2 units currently available to show. 3 units are currently managed & occupied offering immediate income. 1st floor unit has 3 bedrooms/1 bath & other unit is 1 bedroom/1 bath. All other units 1 bed/1bath. Current rent roll analysis: 2 units at $995/month each, plus 401 25th St #3 (same tax parcel) at $1050/month. 3 bedroom market rate estimated $2100/mo & other unit $1100/mo. Zoned A-12 & part of Old Beach Overlay Redevelopment, not zoned for STR use.Property to be sold strictly As-Is, Where-Is. All statements regarding property features are estimates. Buyer to exercise due diligence to verify all info.
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Additional Information
- Heating
- Electric
- Cooling
- Window/Wall
- Roof
- Asphalt Shingle
- Floors
- Carpet, Vinyl, Wood
- Exterior
- Vinyl
- Parking Description
- 2 Space, Driveway Spc, Street
- Elementary School
- W.T. Cooke Elementary
- Middle School
- Virginia Beach Middle
- High School
- First Colonial
- Contingency Exists
- Non Contingent
Mortgage Calculator
Listing courtesy of Swell Realty Co.
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