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    337 W Bute St

    Norfolk, VA 23510
    • $1,400,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: 10374648
    UPDATED: 5 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.avalonrealestateva.com/homes/116610129
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    337 W Bute St Norfolk, VA 23510

    • Price: $1,400,000
    • Status: Active
    • Updated: 5 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
    © 2021 REIN, Inc. Information Deemed Reliable But Not Guaranteed.
     
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    Avalon Real Estate
    4445 Corporation Lane
    Virginia Beach VA, 23462