# 2500 Leo Street, Norfolk, VA 23504

> **TL;DR:** multi-family, $2,550,000, built 1969. Est. $11,050/mo. Listed 147 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $2,550,000 |
| Year Built | 1969 |
| Stories | 2 |
| Property Type | Multi-Family (Apartment) |
| Status | For Sale |
| Days on Market | 147 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $11,050 |
| **Total** | **$11,050** |

## Nearby Schools

- **Elementary:** Lindenwood Elementary
- **Middle:** Norview Middle
- **High:** Maury

## Property Highlights

- Built in 1969
- 2 stories

## Description

### Agent 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

## Location

- **Address:** 2500 Leo Street, Norfolk, VA 23504
- **Neighborhood:** VILLA HEIGHTS

## Listing Agent

- **Name:** Christian Phillips
- **Brokerage:** Inlet Realty
- **Phone:** 7576755164
- **Email:** christian@inletrealty.com

## Primary Photo

![2500 Leo Street - Primary Photo](http://lh.rdcpix.com/39ca7817c6c3a087b9e2009912674d06l-f3388156177r.jpg)

*14 total photos available on [listing page](https://www.propertysimple.com/listing/2500-leo-street-norfolk-va-23504-10610417)*

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**MLS#:** 10610417 | **Updated:** 2026-04-24
**Source:** listhub

*Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/2500-leo-street-norfolk-va-23504-10610417)

---

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