For sale

Price cut: $145K (8/20)

$1,250,000

500 Winston Salem Ave APT 505, Virginia Beach, VA 23451

4beds

2,798sqft

$9,451/mo

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Condominium

Built in 1985

-- sqft lot

$1,215,800 Zestimate^®

$447/sqft

$1,846/mo HOA

What's special

Two balconiesSpacious open floor planGenerous living spaces

Perched above the Virginia Beach coastline, this 4-bedroom, 3.5-bath penthouse offers incredible views of Lake Rudee and the Atlantic Ocean. Designed with a spacious open floor plan, the main living area flows seamlessly to the primary balcony, creating the perfect indoor-outdoor space for entertaining or relaxing with a view. The kitchen overlooks the living and dining areas, maximizing both functionality and natural light. The main level features a private en suite bedroom, great for guests or multi-generational living. Upstairs, all bedrooms offer brand-new carpet, while the main living areas feature hard tile flooring with the look of wood for a stylish and durable finish. The primary suite includes its own private balcony, spacious ensuite bath, and stunning water views. With two balconies, generous living spaces, and an unbeatable location near the beach, dining, and entertainment, this penthouse delivers luxury coastal living at its finest.

115 days

308

10

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 4
Full bathrooms: 3
1/2 bathrooms: 1

Rooms

Room types: 1st Floor BR, 1st Floor Primary BR, PBR with Bath

Primary bedroom

Level: First

Heating

Heat Pump

Cooling

Central Air, Heat Pump

Appliances

Included: Dishwasher, Disposal, Dryer, Microwave, Electric Range, Refrigerator, Washer, Electric Water Heater

Features

Walk-In Closet(s), Ceiling Fan(s), Entrance Foyer
Flooring: Carpet, Ceramic Tile, Laminate/LVP
Windows: Window Treatments
Has fireplace: No

Interior area

Total interior livable area: 2,798 sqft

Property

Parking

Total spaces: 1
Parking features: Parking Gar, 1 Space, Assigned, Parking Lot
Has garage: Yes

Features

Stories: 2
Patio & porch: Patio
Exterior features: Balcony
Pool features: None, Association
Fencing: None
Has view: Yes
View description: Ocean, Water
Has water view: Yes
Water view: Ocean,Water
Waterfront features: Deep Water, Lake Front, Navigable Water, Ocean Front

Details

Parcel number: 24271262878580
Zoning: RT3

Construction

Type & style

Home type: Condo
Architectural style: Contemp
Property subtype: Condominium
Attached to another structure: Yes

Materials

EIFS
Foundation: Pile
Roof: Asphalt Shingle,Poly Skin

Condition

New construction: No
Year built: 1985

Utilities & green energy

Sewer: City/County
Water: City/County

Community & HOA

Community

Subdivision: Ocean Way Condominium

HOA

Has HOA: Yes
Amenities included: Cable TV, Clubhouse, Elevator(s), Fitness Center, Landscaping, Pool, Security, Sewer, Trash, Water
Second HOA fee: $1,846 monthly

Location

Region: Virginia Beach

Financial & listing details

Price per square foot: $447/sqft
Tax assessed value: $708,400
Annual tax amount: $6,871
Date on market: 4/28/2026

Estimated market value

$1,215,800

$1.16M - $1.28M

$4,178/mo

Price history

Price history is unavailable.

Public tax history

Year	Property taxes	Tax assessment
2025	$6,871 -2%	$708,400
2024	$7,013 +15%	$708,400 +15%
2023	$6,098 +5%	$616,000 +5%
2022	$5,809 +17.9%	$586,800 +17.9%
2021	$4,928 -10.6%	$497,800
2020	$5,513 +21.7%	$497,800 +10.2%
2019	$4,529	$451,800
2018	$4,529	$451,800
2017	$4,529 +4.3%	$451,800 +3%
2016	$4,343 +3%	$438,700 +3%
2015	$4,216	$425,900 +9%
2014	$4,216	$390,700 -10%
2013	--	$434,100
2012	--	$434,100
2011	--	$434,100 -11%
2010	--	$487,800 -17%
2007	--	$588,000 +10.3%
2006	--	$533,000 +42.1%
2005	--	$375,000 +11.3%
2004	--	$337,000 +10.5%
2003	--	$305,000 +19.6%
2002	--	$255,000