Renovated Four-Unit
For Sale
$425,000
329 S Armistead Ave, Hampton, VA 23669
Four updated apartments share a covered front porch and off-street parking near downtown and the waterfront.
Property Size2,460 SF
Price / SF$172.76
Days on Market49
Property Features for 329 S Armistead Ave
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Downtown
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Amenities
large covered front porch
Building Details
Year Built
1900
Buildings
1
Listing Agency:
homecoin.com
Listed By:
Jonathan Minerick · License #01523060
(888) 100-2513
Source:
Horakrealtygroup
Added: Sep 13
Changed: Oct 25
Last Checked: Oct 7 at 5:29PM
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 homecoin.com
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Investment Insights
Based on property information with market context.
Built in 1900, this 2,460-square-foot quadplex contains four apartments, each configured with one bedroom and one bathroom. The property has undergone renovation, with updated interiors and appliances included in the sale. A large covered front porch and off-street parking serve the building.
The property is located at 329 S Armistead Ave in Hampton, one block from Historic Downtown Hampton and three blocks from the waterfront. Its four-unit layout places all apartments within a single building, providing a straightforward residential income configuration.
The property is located at 329 S Armistead Ave in Hampton, one block from Historic Downtown Hampton and three blocks from the waterfront. Its four-unit layout places all apartments within a single building, providing a straightforward residential income configuration.
Key Highlights
- Four‑unit quadplex with 2,460 square feet
- Each apartment includes 1 bedroom and 1 bathroom
- Renovated interiors with updated appliances included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,405
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,100
$568.1K
Cap Rate 7%
$405,786
$405.8K
Cap Rate 9%
$315,611
$315.6K
Market Conditions
NOI Build-Up for 2,460 SF
Gross rent
$42.8K $17.40/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$40.6K $16.50/SF
− OpEx
−$12.2K −$4.95/SF
NOI
$28.4K $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%
$568,100
Cap Rate 7%
$405,786
Cap Rate 9%
$315,611
Alternative Uses
Best Use
Multifamily LT 5
$405.8K
$355.1K – $473.4K
NOI $28,405 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$374.6K
$327.8K – $437.0K
NOI $26,221 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$639.7K
$559.8K – $746.4K
NOI $44,782 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
912
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?
Quadplex - Four updated apartments share a covered front porch and off-street parking near downtown and the waterfront.
Where is this quadplex located?
The property is located at 329 S Armistead Ave Hampton, VA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,460 square feet; Each apartment includes 1 bedroom and 1 bathroom; Renovated interiors with updated appliances included
