163 CHOATE Street Portsmouth, VA 23707
MULTI_FAMILY - Portsmouth, VA
Property Features for 163 CHOATE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- URH
- Standard status
- Active
- Size
- 1,396 SF
Taxes and HOA fees
- Tax Annual Amount
- 2011
Utilities
- Water front features
- Waterfront
Building Details
- Year built
- 1942
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Bill Eiseman
Listing office Long & Foster Real Estate Inc. 644 Grassfield Pkwy. #28, VA (757) 547-4555
Listing date Jul 10, 2026
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Investment Insights
Based on property information with market context.
The offering is for 163 Choate Street in Portsmouth, Virginia (23707). The listing zoning is URH.
As a duplex format, the property supports separate income streams within one managed footprint, with each unit designed to operate independently.
Key Highlights
- Single‑story side‑by‑side duplex built in 1942
- 4 bedrooms and 2 bathrooms total across the duplex layout
- Multi‑unit setup with independently operating units for separate income streams
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 | $18.8k | $13.44 |
| − Vacancy | −$1.4k | −$1.03 |
| EGI | $17.3k | $12.41 |
| − OpEx | −$5.2k | −$3.72 |
| NOI | $12.1k | $8.68 |
