1525 Des Moines Avenue, Central Portsmouth, VA 23704
- $260,000
- 1,476
- SqFt
- List Price
- $260,000
- Status
- UNDER CONTRACT
- MLS#
- 10635401
- Year Built
- 1953
- Style
- Converted S.F.
- Living Area
- 1,476
- County
- Portsmouth VA
- City
- Central Portsmouth
- Subdivision
- Prentis Place
Property Description
Opportunities like 1523 & 1525 Des Moines Ave are the "hidden gems" of the Portsmouth market. This dual-asset acquisition allows you to offset your hold of cost from Day 1 with a current tenant 1523 paying $900/month (10,800 in annual gross income), while you unlock the explosive potential of the adjacent unit. By converting 1525 into a premium 3-bedroom, 2-bedroom residence, you aren't just renovating-you are engineering equity. In a market where 3/2 units command premium rents, a strategic conversion can significantly optimize you Cap Rate. With a 3-year-old roof already protecting you investment, your capital can be focused entirely on the high-ROI interior finishes that drive appraisal value. 1525 has all-in-one washer /dryer. Has electrical charger outlet.
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Additional Information
- Roof
- Asphalt Shingle
- Exterior
- Brick
- Waterfront Description
- Not Waterfront
- Sewer
- City/County
- Elementary School
- Brighton Elementary
- Middle School
- Cradock Middle
- High School
- Ic Norcom
- Contingency Exists
- Non Contingent
- Days on Market
- 33
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Listing courtesy of Abrams Realty.
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