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Multifamily

Portsmouth Duplexes

108 Webster Ave, Portsmouth, VA 23704

Listing Price: $1,650,000

Cap Rate
7.10%
Number of Units
8
Price/Unit
$206,250
Price/Gross SF
$152.23
Gross SF
10,839

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive Offering Memorandum for the Portsmouth Duplex Portfolio located in Portsmouth, VA. The portfolio consists of one (1) 1,416 sqft two-bed two-bath unit, three (3) 1,404 sqft three-bed two-bath units, and four (4) 1,713 sqft three-bed two-and-a-half bath units in four duplexes built between 1900 and 1923 and situated on a combined +/- 0.58 acres. The portfolio features laminate wood flooring, granite countertops, ceiling fans, and stainless steel appliances. The property’s central location affords residents easy access to Hampton Roads’ top employers. The Hampton Roads economy is heavily diverse home to the fastest growing port on the East Coast, two Fortune 500 companies, low business costs, global access, and a robust talent pipeline. Hampton Roads is well known for its ports, shipyards, maritime related industries, aerospace, food and beverage processing, and is home to every branch of the U.S. Armed Forces. Hampton Roads seven universities and three community colleges graduate +/- 17,000 students annually, consistently supplying a highly skilled workforce.

Investment Highlights

  • 8 Units: Mix of Two and Three Bedroom Units
  • 4 Recently Renovated Duplexes with High-End Finishes; No Deferred Maintenance
  • Located 3 Blocks from Naval Medical Center Portsmouth
  • Located 2.1 Miles from Norfolk Naval Shipyard
  • 3.6 Miles from Downtown Norfolk & Norfolk's Waterside District
  • Walking Distance to Numerous Restaurants, Retail, and Entertainment Destinations

Exclusively Listed By

Listing Price: $1,650,000

Cap Rate
7.10%
Number of Units
8
Price/Unit
$206,250
Price/Gross SF
$152.23
Gross SF
10,839

Investment Highlights

  • 8 Units: Mix of Two and Three Bedroom Units
  • 4 Recently Renovated Duplexes with High-End Finishes; No Deferred Maintenance
  • Located 3 Blocks from Naval Medical Center Portsmouth
  • Located 2.1 Miles from Norfolk Naval Shipyard
  • 3.6 Miles from Downtown Norfolk & Norfolk's Waterside District
  • Walking Distance to Numerous Restaurants, Retail, and Entertainment Destinations

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive Offering Memorandum for the Portsmouth Duplex Portfolio located in Portsmouth, VA. The portfolio consists of one (1) 1,416 sqft two-bed two-bath unit, three (3) 1,404 sqft three-bed two-bath units, and four (4) 1,713 sqft three-bed two-and-a-half bath units in four duplexes built between 1900 and 1923 and situated on a combined +/- 0.58 acres. The portfolio features laminate wood flooring, granite countertops, ceiling fans, and stainless steel appliances. The property’s central location affords residents easy access to Hampton Roads’ top employers. The Hampton Roads economy is heavily diverse home to the fastest growing port on the East Coast, two Fortune 500 companies, low business costs, global access, and a robust talent pipeline. Hampton Roads is well known for its ports, shipyards, maritime related industries, aerospace, food and beverage processing, and is home to every branch of the U.S. Armed Forces. Hampton Roads seven universities and three community colleges graduate +/- 17,000 students annually, consistently supplying a highly skilled workforce.

Exclusively Listed By

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