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Apartment

25/wk
Norfolk, Virginia, United States
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Asking Price$550,000
Revenue$105,372 Established1967
Cash Flow$25,000 Employees2 full-time
FF&EUndisclosed FranchiseNo
InventoryUndisclosed RelocatableNo
Real EstateUndisclosed* Home-basedYes
* Included in Asking Price
Purchase this 20-Unit Hotel/Motel with 4 Retail Storefronts and additional Single-Family Residence

*NOTE: The property houses Active Businesses. Do NOT attempt to contact the individual/store owners or tenants directly. Please contact listing agent for further information.

Inherited in 2004 the current owners purchased the corner stores of 1140 Hugo St and 6155 Sewells Point Road, to add to the properties at 1136 Hugo St and 6159, 6163, 6165 and 6167 Sewells Point Rd through 2005. After the purchase of the additional parcels, the owners surveyed the land to add the driveway to the commercial property at which point it was demised by the city of Norfolk as 1136 Hugo Lot B (private house) and 1140 Hugo St Lot A, which includes, 6155, 6161, 6163, 6165 and 6167 Sewells Point Rd.

Annually the owners obtain a permit from the city of Norfolk for 6165 to operate as a Hotel/Motel (rooming house), with 20 rentable rooms on a monthly or bi weekly basis.

Located off Sewells Point Road, near the high-traffic 5-Points intersection, The Anchor Apartments are conveniently located near the interstate, schools, commercial strip centers and only moments from the Norfolk Airport.

Please contact Fouad Mohit for more information at (757) 237-2301 or fouad@sunbeltnetwork.com.

Property listed by MainStreet Commercial at Keller Williams Realty located at 1100 Volvo Parkway, suite 200, Chesapeake, Va | Tel: (757) 349-MAIN (6246)
Sale Reason:Retirement
Ad #87349
Seller Reference #HAMPTVA001-N1579
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Fouad Mohit
(757) 557-0006
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