Welcome to Lamberts Point!

Open House: Saturday, November 29th from 2 to 4 pm.

Exceptional Owner Occupant or Investment Property with Strong Student Rental Appeal Near ODU that was renovated to the highest standards of design, durability and efficiency in 2017.

A rare opportunity for owner occupants or investors: this remarkable 4 BR/3.5 B chic-industrial property, once the 100-year-old Lamberts Point Market, is now a modern, low-maintenance income producer, just 3 blocks from ODU with easy access to the Naval Base, SNGH, EVMS, and CHKD.

Designed for flexibility and high demand individual leasing, the home features four private bedroom suites, each with its own bath, an ideal setup for student rentals, young professionals, or multi-tenant leasing. Durable finishes such as exposed brick, acid-etched concrete, rustic flooring, stainless steel prep surfaces, and LED lighting keep ongoing maintenance costs low while maintaining a stylish, industrial aesthetic that appeals to today’s renters.

The open concept living/dining area showcases exposed brick, soaring ceilings and tall windows, exposed ductwork, and an electric fireplace with LED perimeter lighting. The restaurant-style kitchen, complete with new stainless steel Energy Star appliances, storage lockers, and an impressive 11-foot raised bar, creates a social hub perfect for roommates, studying, or entertaining groups.

The private first-floor suite enhances rental versatility, while three additional suites on the second floor ensure maximum occupancy and enhances revenue potential. A dedicated laundry room and cable TV/Wi-Fi hookup further support a turnkey rental operation.

Security features of the home include steel entry door with deadbolts, solid core interior doors, interconnected smoke and CO detectors, security system with motion and glass break sensors, Ring video doorbell, dusk-to-dawn LED exterior lighting, and Keep Safe® laminated glass windows (first floor only).

Exterior highlights include a private patio shaded by a mature Mimosa tree, off-street parking for four cars, dual-zone HVAC, an electric water heater, and a 5,148 sq ft lot. No flood insurance required.

Interior Features
• Chic-industrial 4 BR/3.5 B home featuring soaring ceilings and tall windows, exposed brick, acid-etched concrete and rustic flooring
• Open concept living/dining room with exposed ductwork, electric fireplace with LED perimeter lighting, and galvanized steel hardware captures a warehouse feel
• Restaurant-style kitchen features new SS Energy Star appliances, SS prep tables, storage lockers, red glitter acrylic panels, and an 11-foot raised bar
• LED lighting
• One BR suite with full bath on the first floor
• The second-floor features three additional BR suites with 2 1/2 baths
• Laundry room with washer and dryer on the second floor
• Wi-Fi and cable TV hookup

Exterior Features
• Private outdoor patio with mature Mimosa tree
• Steel entry door with deadbolts and solid core interior doors
• Security system with motion and glass break sensors
• Ring video doorbell
• Dusk-to-dawn LED exterior lighting
• Keep Safe® laminated glass windows (first floor only)
• Dual-zone high-efficiency heating and air conditioning unit
• Interconnected smoke and CO detectors
• High capacity electric water heater
• Waterproof exterior brick coating
• Commercial TPO roof
• Off-street parking for 4 cars
• 5,148 sq ft lot

Helpful Information
• Schools: Larchmont Elementary, Blair Middle, and Maury High School
• Completely renovated property conveniently located just 3 blocks from ODU, close to the Naval base, SNGH, EVMS and CHKD. A short walk, bike or car ride to nearby entertainment venues, restaurants, and shopping.
• No flood insurance required
• 2024 NOI based on $36,850 of income minus $10,021 in expenses (Advertising - $711.29, Insurance - $1200.28, Maintenance - $1,955.32, Repairs - $783.74, Taxes - $5014.86, Utilities $355.18) = $26,829 or 5.83% return / cap rate @ $460,000