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About This Home
This 0-bedroom, 0-bathroom residential multi family at 1525 Des Moines Avenue in Portsmouth, VA is listed for $260,000 ($176 per sqft). Built in 1953, the home offers 1,476 sqft of living space on a N/A lot.
Opportunities like 1523 & 1525 Des Moines Ave are the "hidden gems" of the Portsmouth market. This dual-asset acquisition allows you to offset your hold of cost from Day 1 with a current tenant 1523 paying $900/month (10,800 in annual gross income), while you unlock the explosive potential of the adjacent unit.
By converting 1525 into a premium 3-bedroom, 2-bedroom residence, you aren't just renovating-you are engineering equity. In a market where 3/2 units command premium rents, a strategic conversion can significantly optimize you Cap Rate. With a 3-year-old roof already protecting you investment, your capital can be focused entirely on the high-ROI interior finishes that drive appraisal value. 1525 has all-in-one washer /dryer. Has electrical charger outlet.
Key Features
- Built in 1953
Property Details
Monthly Cost Estimate
$1,391/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1525 Des Moines Avenue
Portsmouth, VA 23704
PRENTIS PLACE
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 1525 Des Moines Avenue is listed at $260,000 ($176/sqft). The estimated monthly payment is $1,127 based on 20% down at 6.5% interest.
Key features include: Built in 1953.
This property is listed by Elizabeth Abrams and can be reached at (757) 642-0118 or liz@abramshomes.com.
