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323 Dinwiddie St
Portsmouth, VA 23704

$525,000 USD

Apartments For Sale  •  5,925 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,925 SF
  • Lot Size 0.15 AC
  • Year Built 1910
  • Cap Rate 7.30 %
  • Zoning HR
54 Transit Score
84 Walk Score

Highlights

3-Unit Historic Multi-family Investment Property Olde Towne Portsmouth, VA
Turn-key investment with limited deferred maintenance and immediate cash flow
Upside Potential for increased Rent ands improved NOI with conversion to electric heat pumps for HVAC
3-Units; 3-Beds 1-Bath; each unit 1,975 SF w/ 850 SF private balcony
Perfect candidate for Historic Tax Credits
Built in 1910 with $175,000+ in improvements in the last 5-years

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $38,380 USD (2024)
Cap Rate: 7.30 %
Total Expenses: $26,011 USD

Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Dishwasher
  • Fenced Lot
  • Fireplace
  • Washer/Dryer
  • Heating
  • Trash Pickup - Curbside
  • Walking/Biking Trails
  • Ceiling Fans
  • Crown Molding
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Oven
  • Yard
  • Built-In Bookshelves
  • Dining Room
  • Garden
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
Norfolk (Northeast Regional - Amtrak) 7 min - 3.2 mi
AirportDriveWalkDistance
Norfolk International 19 min - 9.6 mi
Newport News/Williamsburg International 46 min - 32.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Michael Allen 757-952-6660 Harvey Lindsay Commercial Real Estate
Michael Allen 757-952-6660 Harvey Lindsay Commercial Real Estate