Two-Unit Residential
241 LEE Street, Hampton, VA 23669
For Sale
New
$239,000
Multi Family Residential, Converted S.F., Hampton, VA
Property Size1,552 SF
Price / SF$153.99
Days on Market2
Property Features for 241 LEE Street
General Information
Property type
Property subtype
Zoning
Subdivision
Lot features
Elementary school
Middle school
Directions
Standard status
Size
Taxes and HOA fees
Tax Annual Amount
Amenities
fenced yard
storage shed
Building Details
Year built
Roof type
Architectural style
Listing Agency:
RE/MAX Capital · RE/MAX International
(757) 926-4346
Listed By:
Julie Crist · License VA #0225065475
(757) 564-1557
Added: Nov 13
Changed: Nov 14
Last Checked: Nov 14 at 5:06AM
MLS# 10661174
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 1,552-square-foot duplex, built in 1900, contains two separate apartments. The downstairs unit has 1 bedroom and 1 bathroom; the upstairs apartment offers 3 bedrooms and 1 bathroom. Updates to the upper unit include carpet, paint, HVAC, appliances, fixtures, countertops, and flooring. A shingle roof covers the property, and the yard is fully fenced with a shed for storage.
The property is zoned R8. Its two-unit layout combines a smaller downstairs apartment with a larger upstairs residence.
The property is zoned R8. Its two-unit layout combines a smaller downstairs apartment with a larger upstairs residence.
Key Highlights
- 1,552‑square‑foot duplex built in 1900
- Downstairs apartment has 1 bedroom and 1 bathroom
- Upstairs apartment has 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,920
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,400
$358.4K
Cap Rate 7%
$256,000
$256.0K
Cap Rate 9%
$199,111
$199.1K
Market Conditions
NOI Build-Up for 1,552 SF
Gross rent
$27.0K $17.40/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$25.6K $16.50/SF
− OpEx
−$7.7K −$4.95/SF
NOI
$17.9K $11.55/SF
Area
Hampton, VA
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,400
Cap Rate 7%
$256,000
Cap Rate 9%
$199,111
Alternative Uses
Best Use
Multifamily LT 5
$256.0K
$224.0K – $298.7K
NOI $17,920 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$236.3K
$206.8K – $275.7K
NOI $16,543 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$403.6K
$353.2K – $470.9K
NOI $28,253 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
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Business Placement
Demographics for 23669, VA
41,030
Population
17,589
Households
2.3
Avg Household Size
38
Median Age
31%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
3,391
Density / Sq Mi
$66,999
Median Household Income
$41,874
Median Earnings
$1,202
Median Rent
$246,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The residence pairs a one-bedroom unit with a three-bedroom apartment and includes a fenced yard and storage shed.
Where is this duplex located?
The property is located at 241 LEE Street Hampton, VA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 1,552‑square‑foot duplex built in 1900; Downstairs apartment has 1 bedroom and 1 bathroom; Upstairs apartment has 3 bedrooms and 1 bathroom
