3706 South St - Apartments FOR SALE


Portsmouth, VA 23707- Midtown Portsmouth
$451,500 USD
757-620-4262
3706 South St, Portsmouth, VA for Sale
$451,500 USD
Apartments - FOR SALE
1/2
null | Request Cap Rate

3706 South St
Portsmouth, VA 23707
Midtown Portsmouth


HIGHLIGHTS

  • Quiet neighborhood, close to elementary school.
  • Possibility of transforming 2 one bedroom units into 2 two-bedroom units

OVERVIEW

This property features two separate duplexes on a single parcel. One building has two units, each consisting of one bedroom, one bathroom. The other building has two units with one bedroom 1.5 bathrooms. Properties sold as package deal only. The units boasts: extra large floor plans, making this property an atractive rental option. Each unit has its own washer and dryer hook up. The property also offers off street parking and private backyard. Current rents at $750-$950 are well below market value due to long term tenants. Value added opportunity: Rent below market value due to long term tenants. Possibility for rent increases. Estimated fair market value $1100 - $1200. Some units have interior renovations completed. Some units have new HVAC systems. One duplex can easily be transformed into a two bedroom 1.5 bathrooms. Transit oriented: Easy access to I-64 and I - 264. Easy access to downtown Portsmouth, Norfolk and Suffolk

FOR SALE DETAILS

PRICE

$451,500 USD

PRICE/SF

$138 USD /SF

# OF UNITS

4

PRICE/UNIT

$112,875

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3704 and 3706 South Street

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,940 SF

ZONING

Residential

APN/PARCEL ID

0305-0700

ASK ABOUT THIS PROPERTY

Mihaela GuyNextgen Virginia RealtyMore Info
757-620-4262

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Mihaela GuyNextgen Virginia RealtyMore Info
757-620-4262

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.