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About This Home
This 0-bedroom, 0-bathroom multi-family at 1315 Little Bay Avenue in Norfolk, VA is listed for $1,500,000. Built in 1979, on a N/A lot.
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.
Key Features
- Built in 1979
- 2 stories
Property Details
Monthly Cost Estimate
$8,022/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1315 Little Bay Avenue
Norfolk, VA 23503
WILLOUGHBY BEACH
Property Details
Flooring
Construction
Parking
Heating
Cooling
Appliances
Questions & Answers
This 0-bedroom, 0-bathroom multi-family at 1315 Little Bay Avenue is listed at $1,500,000. The estimated monthly payment is $6,500 based on 20% down at 6.5% interest.
Key features include: Built in 1979, 2 stories.
This property is listed by Christian Phillips and can be reached at 7576755164 or christian@inletrealty.com.














