FSBO

Historic 5-Bedroom Home with Multi-Family Zoning Potential

45 Prospect Pkwy, Portsmouth, VA 23702

$275,000 After Repair Value -
$160,000 Asking Price -
$70,000 Cost of Repairs =
$45,000 Potential Profit

Property Details

Asking Price $160,000

After Repair Value $275,000

Costs of Repairs $70,000

Potential Profit $45,000

Living Area 1758 ft2

Property Type Multi-Family

Bedrooms 5

Bathrooms 2

Half Bathrooms N/A

Parking 1

Listed with Agent 1

EPI (Estimated Potential Income)

Potential Rental Income $2,400

Yearly Expenses N/A

Property Taxes $2,305

Net Operating Income N/A

Cap Rate N/A

Property Description

Don’t miss out on this incredible opportunity! This 5-bedroom, 2-bathroom home, currently listed as a multi-family property in town records, offers endless possibilities. Whether you envision restoring it as a charming single-family residence or exploring its potential as a multi-unit investment, this property is brimming with potential.Nestled in a historic, family-friendly neighborhood in Portsmouth, the home provides easy access to schools, shopping, the public library, and the fire department—ensuring convenience and community at your doorstep. Though it requires some work, this is a fantastic opportunity for those looking to personalize a space or embark on a rewarding investment project.Key Features:5 spacious bedrooms and 2 full bathroomsZoned as a multi-family property (currently used as a single-family home)Located in a historic, family-oriented neighborhoodWalking distance to schools, shopping, and local amenitiesNeeds renovation, offering great potential for customizationOwner needs to sell quickly due to unforeseen circumstancesThis is a rare chance to secure a property with tremendous value and potential. Don’t wait—make it yours today!

Repairs Needed

This would be a complete gut.

CONTACT LISTING OWNER

Robin N. Walker

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