1510 Parker Avenue, Portsmouth, VA 23704
- Added:
- Apr 2, 2026
- Days on Market:
- 76
- Last Refresh:
- Jun 16 at 11:06 pm
Property Features for 1510 Parker Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- UR
- Standard status
- Active
- Size
- 3,460 SF
Taxes and HOA fees
- Tax Annual Amount
- 5561
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1955
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Kris Weaver (757) 340-5555
Listing office Atlantic Sothebys Int'l Realty 4416 Expressway Dr., Virginia Beach, VA (757) 777-9870
Listing date Apr 2, 2026
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HighLights
- Triplex configuration offers significant rental income potential or flexible living arrangements.
- Each unit features desirable amenities: granite countertops, stainless steel appliances, and in‑unit laundry.
- Separate utility meters for each unit simplify property management.
- Includes a spacious 3‑bedroom, 2‑bath single‑family home.
- Detached garage provides additional storage or parking.
- Large lot offers added value and potential.
Overview
The property is located at 1510 Parker Avenue in Portsmouth, Virginia. The listing notes a large lot and includes a detached garage, providing additional on-site utility for storage and tenant parking needs.
For tenants, the unit mix supports a range of household sizes within the same property, while in-unit laundry and separately metered utilities can simplify day-to-day living and billing. For buyers, the configuration offers flexibility to lease all three units or occupy one while renting the others, with a detached garage and overall lot size serving as added conveniences for residents. Zoning is listed as UR.
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 | $46.5k | $13.44 |
| − Vacancy | −$3.6k | −$1.03 |
| EGI | $42.9k | $12.41 |
| − OpEx | −$12.9k | −$3.72 |
| NOI | $30.0k | $8.68 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Portsmouth
- State
- Virginia
- Longitude
- -76.315534
- Latitude
- 36.826779
