Four-Unit Quadplex with In-Unit
1520 Prentis Ave, Portsmouth, VA 23704
For Sale
$850,000
Multi Family Residential, Over/Under, Portsmouth, VA
Property Size5,324 SF
Price / SF$159.65
Days on Market53
Property Features for 1520 Prentis Ave
General Information
Property type
Property subtype
Zoning
Subdivision
Elementary school
Middle school
Directions
Standard status
Size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Amenities
stackable front-loading washer/dryers
Building Details
Year built
Roof type
Architectural style
Listing Agency:
EXP Realty LLC
Listed By:
Joyclyn Kananen
(866) 825-7169
Added: Sep 18
Changed: Nov 2
Last Checked: Nov 9 at 9:06AM
MLS# 10653977
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.
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Investment Insights
Based on property information with market context.
This URH-zoned quadplex contains 5,324 square feet across four units, with 12 bedrooms, four full bathrooms, and two half bathrooms in total. Each residence has three bedrooms, a half bath and full bath on the main level, and another full bath upstairs. Stackable front-loading washer/dryers are included in every unit, and electric and water are separately metered. Unit 2 has updated kitchen appliances, cabinets, granite countertops, flooring, and bathroom fixtures.
Building updates include a new roof, siding, front door, porch railings, electrical panel, water heaters, and an insulated attic. Crawl-space work includes a new fan, moisture barrier, and dehumidifier; carpet and flooring are also newer. The property is Section 8 approved.
Building updates include a new roof, siding, front door, porch railings, electrical panel, water heaters, and an insulated attic. Crawl-space work includes a new fan, moisture barrier, and dehumidifier; carpet and flooring are also newer. The property is Section 8 approved.
Key Highlights
- Four units totaling 5,324 square feet
- 12 bedrooms, four full baths, and two half baths
- Each residence has three bedrooms and 2.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,236
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$924,720
$924.7K
Cap Rate 7%
$660,514
$660.5K
Cap Rate 9%
$513,733
$513.7K
Market Conditions
NOI Build-Up for 5,324 SF
Gross rent
$71.6K $13.44/SF
− Vacancy
−$5.5K −$1.03/SF
EGI
$66.1K $12.41/SF
− OpEx
−$19.8K −$3.72/SF
NOI
$46.2K $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%
$924,720
Cap Rate 7%
$660,514
Cap Rate 9%
$513,733
Alternative Uses
Best Use
Multifamily LT 5
$660.5K
$578.0K – $770.6K
NOI $46,236 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$608.9K
$532.8K – $710.4K
NOI $42,626 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,648 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered residences offer a 12-bedroom configuration and recent building improvements.
Where is this quadplex located?
The property is located at 1520 Prentis Ave Portsmouth, VA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four units totaling 5,324 square feet; 12 bedrooms, four full baths, and two half baths; Each residence has three bedrooms and 2.5 baths
