Duplex Income
1525 Des Moines Avenue Portsmouth, VA 23704
1525 Des Moines Avenue, Portsmouth, VA, 23704
$260,000
For Sale
$260,000
MULTI_FAMILY - Portsmouth, VA
Property Size1,476 SF
Price / SF$176.15
Days on Market60
Property Features for 1525 Des Moines Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Standard status
- Active
- Size
- 1,476 SF
Taxes and HOA fees
- Tax Annual Amount
- 3145
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1953
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Abrams Realty
(757) 644-3800
4560 South Blvd. Suite #120, Virginia Beach, VA
Listed by
Elizabeth Abrams
(757) 642-0118
Added: May 20 Checked: Jul 18 at 7:06 pm
MLS# 10635401
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 duplex income property is offered as a dual-asset acquisition with an adjacent unit. The listing remarks indicate one unit (1523) is currently leased at $900 per month, representing $10,800 in annual gross income. The roof is described as approximately three years old, and the 1525 unit includes an in-unit washer/dryer and an electrical charger outlet.
The property is located at 1525 Des Moines Avenue in Portsmouth, Virginia 23704.
The property is located at 1525 Des Moines Avenue in Portsmouth, Virginia 23704.
Key Highlights
- Dual‑asset acquisition with immediate income from existing tenant at 1523 ($900/month or $10,800 annually).
- Opportunity to increase equity by converting 1525 into a premium 3‑bedroom, 2‑bathroom residence.
- Potential for optimized Cap Rate through strategic conversion to a 3/2 unit.
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 | $19.8k | $13.44 |
| − Vacancy | −$1.5k | −$1.03 |
| EGI | $18.3k | $12.41 |
| − OpEx | −$5.5k | −$3.72 |
| NOI | $12.8k | $8.68 |
1,476 SF · lease $13.44/SF/yr · vacancy 7.69% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$183.1K
$160.2K – $213.6K
NOI $12,818 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$168.8K
$147.7K – $197.0K
NOI $11,817 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$469.9K
$411.2K – $548.2K
NOI $32,893 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two adjacent units; one is currently occupied and the property has an approximately three-year-old roof.
Where is this duplex located?
The property is located at 1525 Des Moines Avenue Portsmouth, VA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Dual‑asset acquisition with immediate income from existing tenant at 1523 ($900/month or $10,800 annually).; Opportunity to increase equity by converting 1525 into a premium 3‑bedroom, 2‑bathroom residence.; Potential for optimized Cap Rate through strategic conversion to a 3/2 unit.
