273 Elm Avenue, Portsmouth, VA 23704
- Added:
- Jun 23, 2026
- Days on Market:
- 5
- Last Refresh:
- Jun 27 at 4:06 pm
Property Features for 273 Elm Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- HR
- Standard status
- Active
- Size
- 2,774 SF
Taxes and HOA fees
- Tax Annual Amount
- 2491
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1910
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Jaima Botterbush License #318227 (757) 645-9700
Listing office Iron Valley Real Estate HR 4417 Corporation Ln. Suite 120, Virginia Beach, VA (757) 645-9700
Listing date Jun 23, 2026
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.
HighLights
- Renovated over/under duplex in Portsmouth with tenants in both units
- Built in 1910; shingle roof
- Unit 1: 3 bedrooms, 1.5 bathrooms, LVP flooring, quartz kitchen counters and stainless appliances
- Unit 1 includes kitchen, dining area, living room, and extra storage space
- Unit 2: 3 bedrooms, 2 bathrooms, LVP flooring, primary bedroom with attached bathroom
- All appliances convey, including quartz counters, stainless appliances, and a pantry in Unit 2
Overview
The property is located at 273 Elm Avenue in Portsmouth, Virginia, and is described as being in the heart of Portsmouth with easy access to highways, bases, shopping, and restaurants. The listing is identified under zoning HR.
For buyers seeking a residential income property, this duplex provides two independently set up units with appliance packages already included, plus renovated interiors highlighted by quartz counters and LVP flooring. With both units currently occupied, it may appeal to investors or owner-occupants looking for an immediately cash-flowing, turn-key residential rental setup, subject to lease terms and due diligence.
Local 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 | $37.3k | $13.44 |
| − Vacancy | −$2.9k | −$1.03 |
| EGI | $34.4k | $12.41 |
| − OpEx | −$10.3k | −$3.72 |
| NOI | $24.1k | $8.68 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Portsmouth
- State
- Virginia
- Longitude
- -76.312793
- Latitude
- 36.8400665
