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$ 650,000
Est. payment | /mo
$ 650,000
Est. payment | /mo
Key Details
Property Type Multi-Family, Condo
Listing Status Active
Purchase Type For Sale
Subdivision Olde Towne - 119
MLS Listing ID 10638682
HOA Y/N No
Year Built 1852
Annual Tax Amount $7,394
Property Description
Rare opportunity to acquire a well-maintained 5-unit multifamily property in the heart of Portsmouth's highly sought-after Olde Towne Historic District. The property consists of two 2-bedroom, 1-bath units and three 1-bedroom, 1-bath units, offering an attractive unit mix that appeals to a broad tenant base. Positioned in one of Hampton Roads' most desirable neighborhoods, the property is just blocks from the Elizabeth River waterfront, Portsmouth-Norfolk Ferry, restaurants, coffee shops, museums, parks, and entertainment venues.
Surrounded by major employment centers including Naval Medical Center Portsmouth, Norfolk Naval Shipyard, and Rivers Casino Portsmouth, the asset benefits from strong and consistent rental demand. Select units convey furnished, creating additional upside through furnished, mid-term, or executive rental strategies. Combining stable cash flow, a proven rental history, limited local multifamily inventory, and long-term appreciation potential, this turnkey asset presents an exceptional opportunity for investors seeking both current income and future growth in a supply-constrained waterfront market.?
Surrounded by major employment centers including Naval Medical Center Portsmouth, Norfolk Naval Shipyard, and Rivers Casino Portsmouth, the asset benefits from strong and consistent rental demand. Select units convey furnished, creating additional upside through furnished, mid-term, or executive rental strategies. Combining stable cash flow, a proven rental history, limited local multifamily inventory, and long-term appreciation potential, this turnkey asset presents an exceptional opportunity for investors seeking both current income and future growth in a supply-constrained waterfront market.?
Location
State VA
County Portsmouth
Area 21 - Central Portsmouth
Zoning HR
Interior
Hot Water Electric
Heating Heat Pump W/A
Cooling Central Air, Window/Wall
Flooring Carpet, Laminate/LVP
Exterior
Parking Features Off Street
Utilities Available City Sewer, City Water, Electric, Telephone Avail
Roof Type Metal
Building
Story 2.0000
Foundation Basement
Schools
Elementary Schools Park View Elementary
Middle Schools Churchland Middle
High Schools Ic Norcom
Others
Senior Community No
Ownership Simple
Disclosures Disclosure Statement
Special Listing Condition Disclosure Statement
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Listed by Coastal Group Inc.
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