207 12th Street Virginia Beach, VA 23451
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THE OFFERING A luxury 4-unit short-term rental investment opportunity located one block from Virginia Beach’s oceanfront. The asset is comprised of a 2-bedroom, 1-bathroom flat, and three 3-bedroom, 1-bathroom flats. Originally constructed in 1920, the building benefits from grandfathered status for short-term rentals, eliminating the need for extra permits or retrofits. The building was completely gutted and renovated in 2020, and features a new roof, central HVAC system, upgraded bathrooms and fixtures, and new flooring throughout. EASE OF OPERATIONS The Property is currently being managed by a local property management firm specializing in the short-term market. The property manager is available to continue managing the asset for new ownership. This provides new ownership with a seamless and uninterrupted transition into operations. IRREPLACEABLE LOCATION The Property is in Virginia Beach’s thriving Vibe Creative District and one block from the oceanfront, locking new ownership into a highly sought after vacation destination with long-term durability due to its location. This presents new ownership with an opportunity to capitalize on a high-performing asset in an irreplaceable location. PRIME SHORT-TERM RENTAL SUB-MARKET Virginia Beach was recently named a top 10 sub-market for short-term rental assets, measured by owner’s profitability. The Property is 5 blocks from one of the largest tourism developments in Virginia Beach’s history, Atlantic Park. The development, which is set to open Spring 2025, consists of a 3, 500-seat entertainment venue, parking garage and wave park. New ownership can capitalize on increasing demand driven by Virginia Beach’s continued commitment to becoming a top tourist destination in the Mid-Atlantic.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyVirginia Beach City
- Taxes$9,626
- HOA/Condo/Coop Fees$0
- Days on Site1 Day
- MLS StatusActive
- MLS ID NumberVAVB2000472
- Home Size Source Estimated
- Year Built1920
- Lot Size0.18 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style BungalowContemporary
- Construction Vinyl Siding
- Parking Driveway
- Sewer Other
- Acreage 0.18
- Water Other
- Property Sub Type Quadruplex
- Attached Garage No
- Foundation Other
- Zoning OR
Interior Features
- Cooling Central A/ COther Fuel
- Heating Forced AirOther Fuel
Exterior Features
- Roof Shingle
- Spa No
- Waterfront Property No