1725 Prentis Avenue Avenue, Central Portsmouth, VA 23704

Property Description

FOUR-DUPLEX PORTFOLIO – INVESTMENT OPPORTUNITY. Seller is offering the following properties individually and will also consider offers for two, three or all four properties: 204 Central Ave, Suffolk – MLS#10656924 – $280,000; 1725/1727 Prentis Ave, Portsmouth – MLS#10656902 – $260,000; 1622 Prentis Ave, Portsmouth – MLS#10656915 – $245,000; and 1551 Spruce St, Norfolk – MLS#10656917 – $290,000. Total individual asking prices: $1,075,000. Package offers may receive preferential consideration or pricing depending upon the number of properties purchased and overall terms of the offer. IMPORTANT LENDER APPROVAL REQUIREMENT: All four properties currently secure a commercial umbrella loan. Any individual or package sale is subject to approval by the existing lender of the release and payoff terms applicable to each property being sold. This is not a traditional residential short sale; however, lender participation and written approval of each property release will be required before closing. Buyers and agents should anticipate additional time for lender review and should structure settlement dates accordingly. Seller may consider and negotiate offers subject to this lender approval process. Seven of the eight units are currently tenant occupied. Tenant privacy and required notice periods must be respected. Occupied units will be shown only during designated showing days and tenant-available time blocks established by the listing agent. Prior to occupied-unit showings, prospective purchasers should provide evidence of funds available for the required down payment and current lender preapproval or other satisfactory financing documentation. One unit at 1622 Prentis Ave is currently vacant and may be available for more flexible showing appointments. Lease information and basic rent roll are available to qualified prospective purchasers. Contact listing agent regarding showing schedules, multiple-property/package offers, lender approval procedures, lease information and additional portfolio details.