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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Apartment buildings
2915 Bayview Blvd Portsmouth, VA 23707-1530
Entity Owned
5-yr Hold
Property ID
US87-0610271
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
BRICK
Total area
10,876 SF
Lot
0.24 ac (10,411 SF)
Zoning code
HR
APN
0182-0340
UPID
US87-0610271
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$898k
Blend (final)
Blend
$840k
Owner & transaction history
Jl-jkm Properties Lc · 5 yrs held
Jl-jkm Properties Lc
since 2021
Last sale
$689,000
1 recorded transaction
Zoning & alternative use
HR · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The HR sub district is intended for residential uses, but also allows some public and institutional uses.
Zone name
Historic Residential
General category
CIVIC_INSTITUTIONAL
Zone area
314.13 ac
Source
Realmo
Top alternative use upside
Medical building
$1.3M
+29.5%
Retail stores
$1.3M
+26.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portsmouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portsmouth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,015,000
ML approach
$1,125,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,030,000
Current use
MEDICAL BUILDING
$1,330,000
Change: +29% · Conversion: Moderate
RETAIL STORES
$1,305,000
Change: +27% · Conversion: Difficult
WAREHOUSE, STORAGE
$985,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$840k
Range $756k – $924k · ±10% · vs last sale $689k (Apr 2 2021)
Last sale anchor
$689k
Apr 2 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$77 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,896
Tax year 2023
Assessed value
$791,670
Assessed 2023
Previous assessed
$791,670
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$109,830
Assessed improvement
$681,840
Land market value
$109,830
Improvement market value
$681,840
Total market value
$791,670
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1964
Construction
BRICK
Heating
CENTRAL
Cooling
YES
Stories
4
Units
8
Bathrooms
8
Total area
10,876 SF
Lot
0.24 ac (10,411 SF)
Zoning code
HR
APN
0182-0340
UPID
US87-0610271
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
HR · Portsmouth, VAZoning HR · permitted uses
HR · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The HR sub district is intended for residential uses, but also allows some public and institutional uses.
Zone name
Historic Residential
General category
CIVIC_INSTITUTIONAL
Zone area
314.13 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$985,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
4
Units
8
Bathrooms
8
Lot
0.24 ac
Current owner
From public records · entity-resolved
Jl-jkm Properties Lc
Entity
Mailing address
3328 WESTERN BR BLVD, CHESAPEAKE, VA 23321-5106
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2021
$689,000
Jl-jkm Properties Lc
Amraw Corp
Warranty Deed
$551,200 · Townebank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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