1957 E Ocean View Ave Norfolk, VA 23503
Bay View NeighborhoodEstimated payment $4,389/month
About This Home
Exceptional investment opportunity in Norfolk’s Cottage Line neighborhood of Ocean View, just across the street from the Chesapeake Bay. This all-brick, 3,175-square-foot building offers five apartments: four 1-bedroom/1-bath units and one 2-bedroom/2-bath unit, plus a detached income-producing garage and off-street parking. Current gross rental income is $6,475/month ($77,700/year), with potential for additional growth as units turn over. Unit E was recently renovated with an updated kitchen and bath, luxury vinyl plank flooring and fresh paint, providing a proven model for future improvements. Each apartment is separately metered for electricity, paid by the tenants. Owner pays gas, water, sewer and trash, averaging approximately $500–$700/month. Unit C has washer/dryer hookups. High-elevation lot with no flood insurance required. All apartments and the garage are currently occupied. Commercial financing is typically required for properties with five or more units.
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $6,540
Year Built
- Built in 1962
Home Design
- Brick Exterior Construction
- Slab Foundation
- Urethane Roof
Interior Spaces
- 2-Story Property
- Laminate Flooring
Parking
- Parking Available
- Parking Lot
- Off-Street Parking
Schools
- Bay View Elementary School
- Azalea Gardens Middle School
- Norview High School
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Uses Natural Gas
- Separate Meters
- Gas Water Heater
Additional Features
- Lot Dimensions are 50x150
- Property is near public transit
Community Details
- 5 Units
- Ocean View East Subdivision
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $6,540 | $531,700 | $104,600 | $427,100 |
| 2024 | $5,018 | $408,000 | $104,600 | $303,400 |
| 2023 | $4,674 | $373,900 | $104,600 | $269,300 |
| 2022 | $4,560 | $364,800 | $104,600 | $260,200 |
| 2021 | $4,209 | $336,700 | $104,600 | $232,100 |
| 2020 | $4,090 | $327,200 | $97,100 | $230,100 |
| 2019 | $3,955 | $316,400 | $97,100 | $219,300 |
| 2018 | $3,771 | $301,700 | $97,100 | $204,600 |
| 2017 | $3,451 | $300,100 | $97,100 | $203,000 |
| 2016 | $3,451 | $240,000 | $134,500 | $105,500 |
| 2015 | $3,138 | $240,000 | $134,500 | $105,500 |
| 2014 | $3,138 | $240,000 | $134,500 | $105,500 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/10/2026 07/10/26 | For Sale | $700,000 | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $571,000 | Fidelity National Title |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $250,000 | Credit Line Revolving |
Source: Real Estate Information Network (REIN)
MLS Number: 10643752
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This application does not include information on all of the properties available for sale at this time.
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