Triton Portfolio
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Triton Portfolio
5 Multifamily Properties Offered at $9,704,160 CAD in Norfolk, VA
Investment Highlights
- 36 Units: A Mix of One- & Two- Bedrooms
- Easy Access To Numerous Employment Centers: Within 10 minutes from Norfolk International Airport, IKEA, and Simon Premium Outlet Mall
- Prime Location: Located in Norfolk’s most sought-after neighborhoods of Ocean View and the Historic Ghent Neighborhood
- Turn-Key & Stabilized: Each property has been fully renovated and some units will be offered furnished. Properties were previously used for short-te
Executive Summary
The offer includes five separate properties, totaling 14 one-bedroom-one bathroom units, 20 two-bedroom-one bathroom units, and 2 three-bedroom-one bathroom units. Extensive renovations were completed from 2021 to 2023 to upgrade both the inside and outside of each property. These properties have consistently operated as fully furnished rentals for either mid-duration (MDR) or long-term (LTR) stays, with a proven financial track record spanning two years. The rental model offers flexibility, allowing owners to maximize rental income by accommodating stays ranging from 30 to 365 days, under various operational setups.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2023) Click Here to Access |
Annual (CAD) |
|---|---|
| Gross Rental Income |
-
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| Other Income |
-
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| Vacancy Loss |
-
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| Effective Gross Income |
-
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| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $9,704,160 CAD | Number of Properties | 5 |
| Price / SF | $378.54 CAD / SF | Individually For Sale | 5 |
| Cap Rate | 7.19% | Total Building Size | 25,636 SF |
| Sale Type | Investment | Total Land Area | 0.79 AC |
| Status | Active |
| Price | $9,704,160 CAD |
| Price / SF | $378.54 CAD / SF |
| Cap Rate | 7.19% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 5 |
| Total Building Size | 25,636 SF |
| Total Land Area | 0.79 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 400-402 Fairfax Ave, Norfolk, VA 23507 | Multifamily | 5,900 SF | 1910 | - |
| 1900 Kingston Ave, Norfolk, VA 23503 | Multifamily | 6,000 SF | 1972 | - |
|
Sea Shack
1367 E Ocean View Ave, Norfolk, VA 23503 |
Multifamily | 5,352 SF | 1975 | - |
| 1311 W Ocean View Ave, Norfolk, VA 23503 | Multifamily | 3,384 SF | 1971 | - |
| 263 A View Ave, Norfolk, VA 23503 | Multifamily | 5,000 SF | 1918 | - |
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Justin Ferguson -
Power Broker Altay Uzun -
Theo Jolley -
Jack Carroll -
Marcus & Millichap
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