Waterfront Quadplex with Renovated
New
For Sale
$325,000
1261 N King Street, Hampton, VA 23669
MULTI_FAMILY - Hampton, VA
Property Size2,400 SF
Price / SF$135.42
Days on Market4
Property Features for 1261 N King Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
C1
Subdivision
ALL OTHERS AREA 103
Lot features
Deck
Elementary school
Albert W. Patrick III Elementary
Middle school
Benjamin Syms Middle
Standard status
Active
Size
2,400 SF
Taxes and HOA fees
Tax Annual Amount
2738
Utilities
Water front features
Waterfront
Building Details
Year built
1949
Roof type
Composition
Architectural style
Other
Listing Agency:
Turn Key Real Estate LLC
(757) 347-8000
Listed By:
Laura Drummond
(757) 639-4216
Added: Aug 3
Changed: Aug 6
Last Checked: Aug 6 at 9:06AM
MLS# 10647165
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Investment Insights
Based on property information with market context.
This waterfront quadplex contains four one-bedroom, one-bath apartments within 2,400 square feet. Three units have been renovated, while Unit A is vacant. Unit B has a long-term occupant, and Units C and D are leased, creating a mix of current occupancy and available space. The configuration supports an owner-occupant arrangement or leasing all four apartments, as outlined for the property.
Built in 1949, the property is located at 1261 N King Street in Hampton, Virginia. It carries C1 zoning and features a composition roof. The four-unit layout, waterfront designation, and varied unit status provide a clear operating framework for a multifamily buyer evaluating both immediate occupancy and future leasing of the vacant apartment.
Built in 1949, the property is located at 1261 N King Street in Hampton, Virginia. It carries C1 zoning and features a composition roof. The four-unit layout, waterfront designation, and varied unit status provide a clear operating framework for a multifamily buyer evaluating both immediate occupancy and future leasing of the vacant apartment.
Key Highlights
- Four 1‑bedroom, 1‑bath units totaling 2,400 square feet
- Three of the four apartments have been renovated
- Unit A is vacant for owner occupancy or leasing
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.8k | $17.40 |
| − Vacancy | −$2.2k | −$0.90 |
| EGI | $39.6k | $16.50 |
| − OpEx | −$11.9k | −$4.95 |
| NOI | $27.7k | $11.55 |
2,400 SF · lease $17.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$395.9K
$346.4K – $461.9K
NOI $27,712 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$365.5K
$319.8K – $426.4K
NOI $25,582 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$624.1K
$546.1K – $728.2K
NOI $43,690 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 23669, VA
41,030
Population
17,589
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
3,391
Density / Sq Mi
$66,999
Median Household Income
$41,874
Median Earnings
$1,202
Median Rent
$246,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three renovated apartments and one vacant unit support flexible owner-occupancy or leasing arrangements.
Where is this quadplex located?
The property is located at 1261 N King Street Hampton, VA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units totaling 2,400 square feet; Three of the four apartments have been renovated; Unit A is vacant for owner occupancy or leasing
