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337 W Bute St

Norfolk, VA 23510
  • $1,400,000
  • STATUS: Active
  • ON SITE: 54 days
  • ID#: 10374648
UPDATED: 48 min ago
$1,400,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1954

School Information

Elementary School:
Middle School:
High School:

Description

Super rare opportunity to buy an apartment building in the Freemason Historic District! This property is an excellent value-add opportunity for an investor who is seeking near term cash flow and long term value appreciation. The property was constructed in 1954 and features 12 units, six are 1-bedroom / 1-bath and six are 2-bedroom / 2-bath. The property rents are currently below market with demonstrable upside compared to average market rents. This highly desirable location is within walking distance to restaurants, shops and offices and the property has consistent rental history. Renovate and take advantage of state and federal historic tax credits!

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www.austinjamesteam.com/homes/116610129
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337 W Bute St Norfolk, VA 23510

  • Price: $1,400,000
  • Status: Active
  • Updated: 48 min ago
  • ID#: 10374648
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1954
Built
Neighborhood:
Freemason Harbour
Area:
11 - West Norfolk
Elementary School:
Walter Herron Taylor Elementary
Middle School:
Blair Middle
High School:
Maury
Property Description
Super rare opportunity to buy an apartment building in the Freemason Historic District! This property is an excellent value-add opportunity for an investor who is seeking near term cash flow and long term value appreciation. The property was constructed in 1954 and features 12 units, six are 1-bedroom / 1-bath and six are 2-bedroom / 2-bath. The property rents are currently below market with demonstrable upside compared to average market rents. This highly desirable location is within walking distance to restaurants, shops and offices and the property has consistent rental history. Renovate and take advantage of state and federal historic tax credits!
Exterior Features

Construction Other Exterior Siding Brick Foundation Type BasementOther Garage YN No Parking Off Street Roof Other

Interior Features

Cooling Heat Pump Flooring Type CarpetLaminate Furnished YN No Heating Heat Pump Water Heater Type Gas

Property Features

Apartment Type Garden Complex Name Harbor House Contingency Exists Non Contingent Disclosure Historical District Features Laundry RoomWindow Treatments Ownership Type Simple Possession At Closing Tax Amount Approx 11941 Utilities City SewerCity WaterElectricGasTelephone Avail Zoning Hc-Wf1

Listing provided courtesy of Denton Realty Company
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Austin James Realty LLC
2476 Nimmo Parkway, Unit 118B
Virginia Beach VA, 23456