337 W Bute ST $1,525,000

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    337 W Bute ST Norfolk, VA 23510

    Sold
    SOLD 7/30/2021

    $1,525,000

    Market Estimate
    • 0 Beds
    • 0 Baths
    • Multi-Family
    • MLS# 10374648
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    Views: 294

    Property Details

    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!

    • General Features
      • Utilities Error: ClassID in tblMLSFieldPropertyType is null.
      • Status Sold
      • Year Built Approx 1954
    • Building Features
      • New Construction No
      • Fence No
      • Exterior Siding Brick
      • Roof Other
    • Property Features
      • Area 11 - West Norfolk
      • Waterfront No
    • Schools
      • High School Maury
      • Elementary School Walter Herron Taylor Elementary
      • Middle School Blair Middle

    Neighborhood

    23510 (Norfolk) Demographics

    30 Median Age
    6,574 Population Density (per sq. mile)
    49% College Educated
    $49,724 Estimated Median Income
    748 Estimated Total Home Owners
    2,517 Estimated Total Renters
    23% / 77% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    7,744 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $352,500 Median Sales Price
    14 Homes Sold
    22 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- New in Database Source: Multiple Listing Service New Value: $0 -100%
        7/30/2021 3:00:00 AM Sold Source: Multiple Listing Service New Value: $1,525,000
        7/16/2021 8:02:11 PM Status Changed Source: Multiple Listing Service New Value: Under Contract
        5/8/2021 1:02:06 AM Status Changed Source: Multiple Listing Service New Value: Active
        Information Deemed Reliable But Not Guaranteed. The listings data displayed on this medium comes in part from the Real Estate Information Network, Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent. ©2021 REIN. REIN's listings data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW. REIN data is a source of the information for compiling the Market Stats by Reliance Network. REIN updates its listings on a daily basis. Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions. This application does not include information on all of the properties available for sale at this time. Some or all of the listings (or listings data) represented in this application have been enhanced with data not provided by REIN. The enhancements are as follows: listing photos, open house information. The source of these enhancements are: Listing agent. Data last updated: 9/26/2021 12:34:20 PM

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.