Apartment Acquisitions · Portsmouth
Sell Your Commercial Property In Portsmouth, VA
From Olde Towne to Churchland, we buy Portsmouth multifamily and commercial apartment properties of 5+ units in every condition. Owners and agents get a straight answer on fit, usually within two business days.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Where We Look: Olde Towne · Park View · Churchland · Cradock
The Portsmouth Market
What Drives Rentals In Portsmouth
Portsmouth, VA is an independent city of 97,190 residents in ACS 2020-2024, so its figures double as county data. Its median home was built in 1967, against 1984 statewide. Owners who sell commercial property in Portsmouth, VA face a $1.24 per $100 tax rate.
Norfolk Naval Shipyard and the Port of Virginia's Portsmouth Marine Terminal both sit in Portsmouth. Median household income was $60,491, against $93,170 for Virginia. Renters hold 42.1% of homes, and Skyline Capital Investments lets owners sell multifamily property in Portsmouth directly.
Norfolk Naval Shipyard
The Navy calls it its oldest and largest industrial facility; Defense ranks first among Portsmouth employers in Q3 2025.Portsmouth Marine Terminal
The 278-acre Seaboard Avenue terminal finished a $220 million heavy-lift conversion; Virginia International Terminal ranks seventh locally.Bon Secours health care
Bon Secours Health System ranks fourth and Aya Healthcare fifth among Portsmouth employers in the Q3 2025 list.Our Buy Box
What We Buy In Portsmouth
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Portsmouth Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Portsmouth
Renters occupy 42.1% of Portsmouth homes, or 16,944 households, in ACS 2020-2024 tenure data. That compares with 32.7% across Virginia.
Buildings with 5+ units hold 19.6% of Portsmouth housing, or 8,508 units (ACS B25024). Some 68.1% of units predate 1980, against 43.5% statewide (ACS year built).
Rents and affordability
Portsmouth median gross rent was $1,300 a month in ACS 2020-2024, below the $1,579 Virginia median. Median household income was $60,491 (ACS B19013). Rental vacancy stood at 3.5% in the DP04 housing profile.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $1,470 |
| One bedroom | $1,488 |
| Two bedroom | $1,667 |
| Three bedroom | $2,298 |
| Four bedroom | $2,710 |
Portsmouth falls in the Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area under HUD FY2027 fair market rents. The two-bedroom FMR sits $367 above the local median rent.
Property taxes in Portsmouth
Portsmouth taxes real property at $1.24 per $100, and its FY 2027 rate notice proposed keeping that FY 2026 rate. Under Va. Code § 58.1-3201, assessments are made at 100 percent fair market value. A $2,000,000 Portsmouth assessment owes $24,800 a year.
The same notice put the revenue-neutral rate at $1.17, because assessments rose 6.0%. At $1.17 that bill would be $23,400, or $1,400 less. Anyone planning to sell commercial property in Portsmouth, VA should expect buyers to underwrite the $1.24 rate.
Landlord rules
Virginia's landlord-tenant act supersedes local landlord-tenant ordinances under Va. Code § 55.1-1201. Deposits are capped at two months' rent and itemized within 45 days (§ 55.1-1226). Unpaid rent needs a 14-day written notice before termination (§ 55.1-1245).
To sell commercial real estate in Portsmouth, VA, the grantor pays $2,000 on a $2 million deed under § 58.1-802. State recordation tax adds $5,000 at 25 cents per $100 (§ 58.1-801).
What it means for an owner
Portsmouth pairs older rental stock with large federal and port employers. The U.S. Department of Defense ranks first among Portsmouth employers in the Virginia Works Q3 2025 profile.
Before you sell commercial property in Portsmouth, VA, run your numbers through our cap rate calculator. Skyline Capital Investments buys 5+ unit apartment buildings, so you can sell your apartment building in Portsmouth without listing it.
Good To Know
Selling In Portsmouth
More about selling in Virginia →Investing in Portsmouth? See apartment syndications in Portsmouth →
- A $2 million Portsmouth assessment owes $24,800 a year at $1.24 per $100.
- Owners who sell commercial real estate in Portsmouth, VA pay $2,000 grantor tax per $2 million.
- Portsmouth units built before 1980 make up 68.1% of housing, against 43.5% statewide.
Seller Guides
Selling A Building In Portsmouth
Learn More
Taxes & Rules For Portsmouth Property
The Virginia rules that shape any deal in Portsmouth: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Portsmouth Seller FAQ
What tax rate applies when I sell commercial property in Portsmouth, VA?
Portsmouth taxes real property at $1.24 per $100 of assessed value, and its FY 2027 notice proposed keeping that rate. Virginia assesses at full market value, so a $2 million building owes $24,800 a year, a figure buyers price in.
What transfer taxes do I owe to sell commercial real estate in Portsmouth, VA?
Va. Code § 58.1-802 charges the grantor 50 cents per $500, or $2,000 on a $2 million sale. Section 58.1-801 adds state recordation tax of 25 cents per $100 of consideration or value, whichever is greater, which is $5,000.
Who are the largest employers in Portsmouth?
Virginia Works ranks the U.S. Department of Defense first for the third quarter of 2025. The City of Portsmouth, Portsmouth City Public Schools, Bon Secours Health System and Aya Healthcare follow. Covered Portsmouth employment totaled 42,875 that quarter.
How do Portsmouth rents compare with HUD fair market rents?
HUD set the FY2027 two-bedroom fair market rent at $1,667 for the Virginia Beach-Norfolk-Newport News metro area. The Portsmouth median gross rent was $1,300 in ACS 2020-2024. That gap matters when selling commercial property in Portsmouth with voucher tenants.
How old is the Portsmouth apartment stock?
The median Portsmouth home was built in 1967 in ACS 2020-2024, against 1984 for Virginia. Some 68.1% of units predate 1980. Only 2,861 units were built in 2010 or later, so most Portsmouth rental buildings are decades old.
Will you buy a Portsmouth property that needs work or has high vacancy?
Yes. We regularly evaluate value-add, mismanaged, and distressed multifamily properties and underwrite them as they are today — no repairs or lease-up required before selling.
Do you work with Portsmouth brokers and agents?
We do. Agents can bring us listed or pocket-listing deals in Portsmouth, and we keep every conversation confidential.
Is it possible to sell rental property in Portsmouth without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
What do I need to sell my apartment building in Portsmouth?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Selling A Building In Portsmouth?
A few details are enough to start. We respond to every Portsmouth submission, including off-market and pocket listings.
