Overview
This Condo Foreclosure is located at E Ocean View Ave Apt 5, Norfolk, VA 23503. This property is currently bank owned with an estimated market value of $172,608.
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This condo property is available as a foreclosure at E Ocean View Ave Apt 5. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Norfolk, specifically for E Ocean View Ave Apt 5 and comparable listings. Based on this expert analysis, the estimated market value is $172,608. If purchased for rental purposes, the monthly rental rate could range between $700 and $940, providing a solid return on investment. Factors considered in this calculation include the property location, condition, status, and convenience, all assessed by our experienced professionals. Properties like this one on E Ocean View Ave Apt 5 are updated daily along with others in Norfolk, Virginia, ensuring you have the most current and accurate information. Since this property is a foreclosure, be sure to check out our Foreclosure Timeline for E Ocean View Ave Apt 5 below to see detailed and helpful information about what stage of the foreclosure process this listing is in.
Not in Foreclosure
Pre-Foreclosure
Auction
Bank Owned
There are 3 schools in the area. Nearby schools include Norfolk Academy and Granby High School.
There are plenty of activities near this property like Norfolk Public Library, Sentara Norfolk General Hospital, and more.
Public transportation options include: The Tide Light Rail Service provides convenient access throughout the city and connects with major attractions.. Other services include ride-sharing services like Uber and Lyft.
Parks nearby include Norfolk Botanical Garden, Lakewood Park and more.
Services available in the area include cellular and internet options.
This property in Norfolk, VA is located in the 1423 Condominium Subdivision.
The property located at E Ocean View Ave Apt 5 in Norfolk, VA is listed as a Foreclosure
Properties like E Ocean View Ave Apt 5 in Norfolk, Virginia listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers through a local real estate agent or auction house in Norfolk, VA. The longer lenders own properties like this on E Ocean View Ave Apt 5, the more eager they become to sell, often at reduced prices.Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:
Steps as you search for your foreclosure property:
Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.
The estimated rental value for E Ocean View Ave Apt 5 located in Norfolk, VA is $820/month. Comparable homes around E Ocean View Ave Apt 5 that are rentals have monthly ranges starting as low as $700 per month and as high as $940 per month. An owner looking to use this property as an investment could bring a return in the area of $700 - $940 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
| Start Date | End Date | Listing Type | Bank Name |
|---|---|---|---|
| 08/06/25 | Foreclosure | ||
| 05/15/25 | 07/22/25 | Preforeclosure | |
| 05/12/25 | 07/22/25 | Preforeclosure |
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