244 Ethel AVE, Norfolk, VA 23504
244 Ethel AVE, Norfolk, VA 23504
244 Ethel AVE, Norfolk, VA 23504
244 Ethel AVE, Norfolk, VA 23504
244 Ethel AVE, Norfolk, VA 23504
244 Ethel AVE, Norfolk, VA 23504
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$ 499,900
Est. payment | /mo

2,250 SqFt


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$ 499,900
Est. payment | /mo
Save

2,250 SqFt

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,250 sqft

Price per Sqft $222

Subdivision Riverview - 202

MLS Listing ID 10643163

Style Over/Under

HOA Y/N No

Year Built 1918

Annual Tax Amount $4,726

Lot Size 2250.000 Acres

Property Sub-Type Triplex

Property Description

Rare opportunity to own a versatile and beautifully positioned triplex in Norfolk's desirable River View neighborhood! This well-maintained property offers location, flexibility, and income potential in one exceptional opportunity. Featuring three separate living spaces, this triplex provides strong rental potential and flexibility for various ownership goals, including income generation, owner occupancy, or multigenerational living. The exterior showcases durable Hardie board plank siding and a back deck, adding curb appeal and outdoor enjoyment.

Apt 1 features 2 bedrooms, 1 full bathroom, a spacious living area, and full kitchen. Currently leased at $1,225/month on a month-to-month agreement, this unit provides immediate rental income with estimated market rent potential of approximately $1,500/month.

Apt 2 offers a 1-bedroom efficiency layout with its own kitchen and full bathroom. Currently leased at $900/month with a one-year lease, this unit provides additional income potential with estimated market rent of approximately $1,000/month.

Apt 3 is the standout renovation, showcasing exceptional craftsmanship and modern finishes throughout. This beautifully updated unit features a brand-new kitchen with custom cabinetry, quartz countertops, tiled walk-in shower, dedicated office space, and scenic Lafayette River views.

With projected market rents approaching $3,700+ per month, this property offers notable future income potential while providing flexibility rarely found in today's market. The triplex layout allows for multiple possibilities, including living in one unit while generating income from additional units, creating a multigenerational living arrangement, or adding a valuable long-term real estate asset.

Conveniently located near major highways, military bases, shopping, dining, and waterfront recreation, this property offers a unique combination of location, updates, versatility, and opportunity. Whether seeking additional income, flexible living options, or long-term real estate potential, this exceptional triplex is ready to impress.

Location

State VA

County Norfolk

Area 11 - West Norfolk

Zoning R-8

Interior

Hot Water Electric

Exterior

Fence Wood Fence

Waterfront Description Not Waterfront

Roof Type Asphalt Shingle

Building

Lot Description Deck

Foundation Crawl

Sewer City/County

Water City/County

Schools

Elementary Schools Granby Elementary

Middle Schools Blair Middle

High Schools Maury

Others

Senior Community No

Ownership Simple

Disclosures Disclosure Statement

Special Listing Condition Disclosure Statement

Real Estate Information Network (REIN)
Listed by 757 Realty
Adrielle Roxas

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(757) 806-0074

hello@adrielleroxas.com

770 Lynnhaven Pkwy, Virginia Beach, VA, 23452-7324, USA

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244 Ethel AVE