4-Unit Renovated
For Sale
$425,000
329 S Armistead Avenue, Hampton, VA 23669
Multi Family Residential, Over/Under, Side by Side, Hampton, VA
Property Size2,460 SF
Price / SF$172.76
Days on Market27
Property Features for 329 S Armistead Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R13
Subdivision
ALL OTHERS AREA 102
Elementary school
A.W.E. Bassette Elementary
Middle school
C. Alton Lindsay Middle
Directions
Go south off Settlers Landing Dr on to S Armistead Ave.
Standard status
Active
Size
2,460 SF
Taxes and HOA fees
Tax Annual Amount
3950
Amenities
large covered front porch
Building Details
Year built
1900
Roof type
Metal
Architectural style
Other
Listing Agency:
homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
(404) 388-9441
Added: Sep 10
Changed: Oct 2
Last Checked: Oct 6 at 11:06AM
MLS# 10652697
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 four-unit residential property contains 2,460 square feet in one building. Each apartment is configured with one bedroom and one bathroom, and the interiors have been renovated. The property was built in 1900 and has a metal roof. Appliances convey with the sale, and off-street parking and a large covered front porch are provided.
Located one block from Historic Downtown Hampton and three blocks from the waterfront, the property sits on S Armistead Avenue in Hampton, Virginia. Zoning is R13.
Located one block from Historic Downtown Hampton and three blocks from the waterfront, the property sits on S Armistead Avenue in Hampton, Virginia. Zoning is R13.
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- 2,460 square feet in one building
- Renovated interiors; appliances convey
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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments share a covered front porch and off-street parking near downtown Hampton.
Where is this quadplex located?
The property is located at 329 S Armistead Avenue 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 apartments, each with 1 bedroom and 1 bathroom; 2,460 square feet in one building; Renovated interiors; appliances convey
