2500 Leo Street, West Norfolk, VA 23504
- $2,550,000
- List Price
- $2,550,000
- Status
- ACTIVE
- MLS#
- 10610417
- Year Built
- 1969
- County
- Norfolk VA
- City
- West Norfolk
- Subdivision
- Villa Heights
- Neighborhood
- Villa Heights
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
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Additional Information
- Heating
- Electric, Radiant
- Cooling
- Window/Wall
- Roof
- Asphalt Shingle
- Floors
- Laminate/LVP
- Exterior
- Brick
- Parking Description
- Lot, Off Street, Street
- Elementary School
- Lindenwood Elementary
- Middle School
- Norview Middle
- High School
- Maury
- Contingency Exists
- Non Contingent
- Days on Market
- 216
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Listing courtesy of Inlet Realty.
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