Two-Unit New Construction
2001 Azalea Ave, Portsmouth, VA 23704
For Sale
$650,000
Two attached residences offer separate living spaces, private garages, and second-story outdoor areas.
Property Size5,000 SF
Price / SF$130
Days on Market18
Property Features for 2001 Azalea Ave
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
9-foot ceilings
two primary suites per residence
granite countertops
upgraded lighting
ceiling fans
private garage
driveway parking
second-story deck
Building Details
Stories
Listing Agency:
Keffer Realty
(757) 482-2606
Listed By:
Valencia Kelly
(757) 241-0341
Source:
Exprealty
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 4:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keffer Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex pairs two attached, three-level townhomes in a single offering. Each residence contains approximately 2,500 square feet, for approximately 5,000 square feet combined. Both homes feature two primary suites, 9-foot ceilings, granite countertops, upgraded lighting, ceiling fans, a private garage, and driveway parking. A deck on the second level provides outdoor space for each residence.
The two homes are located at 2001 Azalea Ave in Portsmouth, Virginia, and are being offered together rather than individually. Their separate layouts allow each residence to function independently while remaining part of one duplex property.
The two homes are located at 2001 Azalea Ave in Portsmouth, Virginia, and are being offered together rather than individually. Their separate layouts allow each residence to function independently while remaining part of one duplex property.
Key Highlights
- Two attached townhomes offered together at 2001 Azalea Ave, Portsmouth, VA
- Approximately 5,000 square feet combined; each residence is approximately 2,500 square feet
- Three‑story layouts with two primary suites in each home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,423
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$868,460
$868.5K
Cap Rate 7%
$620,329
$620.3K
Cap Rate 9%
$482,478
$482.5K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$67.2K $13.44/SF
− Vacancy
−$5.2K −$1.03/SF
EGI
$62.0K $12.41/SF
− OpEx
−$18.6K −$3.72/SF
NOI
$43.4K $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%
$868,460
Cap Rate 7%
$620,329
Cap Rate 9%
$482,478
Alternative Uses
Best Use
Multifamily LT 5
$620.3K
$542.8K – $723.7K
NOI $43,423 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$571.9K
$500.4K – $667.2K
NOI $40,032 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,427 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
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
$197,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Portsmouth, VA
Properties on Market for Duplexes in Portsmouth
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two attached residences offer separate living spaces, private garages, and second-story outdoor areas.
Where is this duplex located?
The property is located at 2001 Azalea Ave Portsmouth, VA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two attached townhomes offered together at 2001 Azalea Ave, Portsmouth, VA; Approximately 5,000 square feet combined; each residence is approximately 2,500 square feet; Three‑story layouts with two primary suites in each home
