Triplex with Detached
For Sale
$459,000
1510 Parker Avenue, Portsmouth, VA 23704
Multi Family Residential, Over/Under, Portsmouth, VA
Property Size3,460 SF
Price / SF$132.66
Days on Market34
Property Features for 1510 Parker Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Subdivision
PRENTIS PLACE
Elementary school
Brighton Elementary
Middle school
Cradock Middle
Standard status
Active
Size
3,460 SF
Taxes and HOA fees
Tax Annual Amount
5561
Amenities
detached garage
Building Details
Year built
1955
Roof type
Shingle
Architectural style
Other
Listing Agency:
Atlantic Sothebys Int'l Realty · Sotheby's International Realty
(757) 777-9870
Listed By:
Kris Weaver
(757) 340-5555
Added: Sep 2
Changed: Oct 2
Last Checked: Oct 5 at 6:06PM
MLS# 10652031
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated triplex contains 3,460 square feet across three residences. The primary dwelling has three bedrooms and two bathrooms; the other units have two bedrooms and one bathroom, and one bedroom and one bathroom, respectively. Separate utility meters serve the units, and a detached garage is also on the property. The building dates to 1955 and has a shingle roof. The property is at 1510 Parker Avenue in Portsmouth, Virginia.
Key Highlights
- Three residences: one with 3 bedrooms and 2 bathrooms, one with 2 bedrooms and 1 bathroom, and one with 1 bedroom and 1 bathroom
- 3,460 square feet
- Separate utility meters for the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,048
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$600,960
$601.0K
Cap Rate 7%
$429,257
$429.3K
Cap Rate 9%
$333,867
$333.9K
Market Conditions
NOI Build-Up for 3,460 SF
Gross rent
$46.5K $13.44/SF
− Vacancy
−$3.6K −$1.03/SF
EGI
$42.9K $12.41/SF
− OpEx
−$12.9K −$3.72/SF
NOI
$30.0K $8.68/SF
Area
Portsmouth County, VA
Vacancy
7.69%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$600,960
Cap Rate 7%
$429,257
Cap Rate 9%
$333,867
Alternative Uses
Best Use
Multifamily LT 5
$429.3K
$375.6K – $500.8K
NOI $30,048 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$395.7K
$346.3K – $461.7K
NOI $27,702 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$1.10M
$963.9K – $1.29M
NOI $77,108 @ 7.0% cap · market cap 16.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 23704, VA
19,505
Population
9,538
Households
2
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
4.5 sq mi
ZIP Area
4,334
Density / Sq Mi
$44,739
Median Household Income
$34,488
Median Earnings
$1,279
Median Rent
$197,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences have separate utility meters, and the property includes a garage apart from the main dwelling.
Where is this triplex located?
The property is located at 1510 Parker Avenue Portsmouth, VA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Three residences: one with 3 bedrooms and 2 bathrooms, one with 2 bedrooms and 1 bathroom, and one with 1 bedroom and 1 bathroom; 3,460 square feet; Separate utility meters for the units
