1315 Little Bay AVE, Norfolk, VA 23503

Property Description

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.

Listing Status:

Active

Data Last Updated:

April 2, 2026 at 12:38AM

Listing Office:

Inlet Realty : 757-276-3330

Listing Agent:

Christian Phillips :

MLS ID:

10616857

Interior

• Flooring: CarpetLaminate/LVP
• A/C: Window/Wall
• Heating: BasebdHeat Pump W/A

Exterior

• General: Brick
• Parking: LotOff StreetStreet

Construction

• Roofing: Asphalt Shingle
• General: Frame2Slab

Location

• County: Norfolk VA

Lot

• Zoning: R-12

Utilities

• Utilities: City SewerCity WaterElectric