3514-3528 South St
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3514-3528 South St
8 Unit Apartment Building $695,000 ($86,875/Unit) Portsmouth, VA 23707
Investment Highlights
- Each unit is individually metered for water and electricity
- Low maintenance 8 Plex
- High cash flow!
Executive Summary
Attention Investors! Excellent opportunity to own a super low maintenance 8 Plex. Rents total $6,322.00. This property sits in Midtown Portsmouth and is convenient to bases, shipyards, interstates, Rivers Casino, shopping, and more! Fully occupied studio units, each with a full kitchen and bathroom. Each unit is individually metered for water and electricity with laundry inside each unit. Low vacancy! High cash flow! Low maintenance! Amazing management in place. Call today for financials before it’s gone! Do not walk on property unescorted and do not disturb tenants for any reason.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$47,590
|
$10.01
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $47,590 |
| Annual Per SF | $10.01 |
Property Facts
| Price | $695,000 | Lot Size | 0.22 AC |
| Price Per Unit | $86,875 | Building Size | 4,756 SF |
| Sale Type | Investment | Average Occupancy | 90% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1982 |
| Property Subtype | Apartment | Parking Ratio | 1.68/1,000 SF |
| Apartment Style | Low Rise | Cross Streets | Halifax Ave |
| Building Class | C |
| Price | $695,000 |
| Price Per Unit | $86,875 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 4,756 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1982 |
| Parking Ratio | 1.68/1,000 SF |
| Cross Streets | Halifax Ave |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
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Walk Score ®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 0303-0240 | Improvements Assessment | $334,480 (2024) |
| Land Assessment | $125,160 (2024) | Total Assessment | $459,640 (2024) |
PROPERTY TAXES
Parcel Number
0303-0240
Land Assessment
$125,160 (2024)
Improvements Assessment
$334,480 (2024)
Total Assessment
$459,640 (2024)
zoning
| Zoning Code | OR-75 |
| OR-75 |
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Inlet Realty and Property Management
3514-3528 South St
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