Under contract

$1,600,000

765 48th St, Norfolk, VA 23508

7beds

5baths

3,810sqft

$9,955/mo

Get pre-qualified

Quadruplex

Built in 1920

-- sqft lot

$1,476,300 Zestimate^®

$420/sqft

$-- HOA

What's special

Rare waterfront midterm rental investment opportunity! This unique quad multifamily property sits on a quiet dead-end road and backs directly to the creek with deep water access, offering incredible potential for investors or owner-occupants alike. Units 1 & 3 feature fresh paint completed in 2025. Unit 1 has new faceplates outlets, switches and all appliances convey. Updated dock improvements (2026) with newer electrical boxes and cables (2025), and newer plumbing to the docks with backflow valves installed in 2026. The property also includes a large finished basement complete with a full bath, heating and cooling, refrigerator, and sink. Enjoy being just moments from water access, local cafes, and popular kayak and paddleboard rental spots, making it easy to experience the river lifestyle. 16 Docks and boat slips add even more value and appeal to this one-of-a-kind waterfront property.

111 days
410
17

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 7
Bathrooms: 5

Appliances

Included: Electric Water Heater

Features

Has basement: Yes

Interior area

Total interior livable area: 3,810 sqft

Property

Features

Fencing: Back Yard,Full,Wood
On waterfront: Yes
Waterfront features: Bulkhead, Dock, Deep Water Access, Deep Water, Navigable Water, River Front

Details

Additional structures: Shed(s)
Parcel number: 27903705
Zoning: C-2

Construction

Type & style

Home type: MultiFamily
Property subtype: Quadruplex

Materials

Shingle Siding, Vinyl Siding
Foundation: Basement
Roof: Asphalt Shingle

Condition

New construction: No
Year built: 1920

Utilities & green energy

Sewer: City/County
Water: City/County

Community & HOA

Community

Subdivision: Highland Park West

Location

Region: Norfolk

Financial & listing details

Price per square foot: $420/sqft
Tax assessed value: $798,900
Annual tax amount: $9,826
Date on market: 5/11/2026

Estimated market value

$1,476,300

$1.40M - $1.55M

$1,865/mo

Price history

Price history is unavailable.

Public tax history

Year	Property taxes	Tax assessment
2025	$9,826 +51.3%	$798,900 +51.3%
2024	$6,494 0%	$528,000 +1.6%
2023	$6,495 +9.5%	$519,600 +9.5%
2022	$5,933 +3.3%	$474,600 +3.3%
2021	$5,744 +2.7%	$459,500 +2.7%
2020	$5,594	$447,500
2019	$5,594 +2.7%	$447,500 +2.7%
2018	$5,449 +7.9%	$435,900 -0.7%
2017	$5,050	$439,100 -0.1%
2016	$5,050 -0.1%	$439,500
2015	$5,054	$439,500
2014	$5,054	$439,500
2013	--	$439,500
2012	--	$439,500 -0.5%
2011	--	$441,900 -9.4%
2010	--	$487,900
2009	--	$487,900
2008	--	$487,900 +2.2%
2007	--	$477,600 +8.3%
2006	--	$440,900 +32.4%
2005	--	$333,000 +18.3%
2004	--	$281,400 -1%
2003	--	$284,200 +9.1%
2002	--	$260,600 +12%
2001	--	$232,700 +0%
2000	--	$232,630