121 Broad Street, Portsmouth, VA 23707
- Added:
- Jun 19, 2026
- Days on Market:
- 9
- Last Refresh:
- Jun 27 at 3:06 pm
Property Features for 121 Broad Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- HR
- Standard status
- Active
- Size
- 1,872 SF
Taxes and HOA fees
- Tax Annual Amount
- 2689
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1988
- Roof type
- Composition
- Architectural style
- Other
Listing agent Melinda Baldwin (800) 539-8014
Listing office CENTURY 21 Nachman Realty 3325 Taylor Rd. #107, Newport News, VA (757) 638-5700
Listing date Jun 19, 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
- Waterfront property with waterfront features
- Built in 1988
- Composition roof
- Both units currently occupied; appointments required
Overview
The property is located at 121 Broad Street in Portsmouth, Virginia 23707. Public remarks note it is just a short distance to the water, with Culpeppers Boat rentals described as very close for quick trips.
For buyers or portfolio investors, this occupied duplex may fit a strategy focused on acquiring residential income property with existing tenants in place. Prospective purchasers should plan to coordinate showings in advance due to the occupied status and appointment requirement. The HR zoning designation should be reviewed by interested parties for confirmation of permitted uses and any intended plans.
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 | $25.2k | $13.44 |
| − Vacancy | −$1.9k | −$1.03 |
| EGI | $23.2k | $12.41 |
| − OpEx | −$7.0k | −$3.72 |
| NOI | $16.3k | $8.68 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Portsmouth
- State
- Virginia
- Longitude
- -76.3355525
- Latitude
- 36.8530147
