2500 Leo ST, Norfolk, VA 23504

Property Description

2500 Leo Street is a rare opportunity to acquire a 24-unit multifamily asset in Norfolk with true value-add upside and plenty of “meat on the bone.” The property consists of twenty-four (24) two-bedroom, one-bath apartments, an attractive and highly rentable unit mix for the local tenant base. Current operations leave room for a new owner to reposition the asset through targeted renovations, improved management, and strategic rent increases to better align with market rates. Investors will appreciate the straightforward layout, consistent floorplans, and the ability to add value through interior upgrades, utility optimization, and enhanced resident amenities. With scale in a single location and strong demand for well-located two-bedroom rentals in Norfolk, 2500 Leo Street is ideal for both regional and out-of-area investors seeking stable cash flow today with meaningful upside over time. This is a solid value-add multifamily play ready for its next owner to take it to the next level

Listing Status:

Active

Data Last Updated:

July 5, 2026 at 4:38AM

Listing Office:

Inlet Realty : 757-276-3330

Listing Agent:

Christian Phillips :

MLS ID:

10610417

Interior

• Flooring: Laminate/LVP
• A/C: Window/Wall
• Heating: ElectricRadiant

Exterior

• General: Brick
• Parking: LotOff StreetStreet

Construction

• Roofing: Asphalt Shingle
• General: Frame2Slab

Location

• County: Norfolk VA

Lot

• Zoning: R-8

Utilities

• Utilities: City SewerCity WaterElectric