3 days on market
$360,000
475 Water St #302
Portsmouth, Virginia 23704
MLS# 10638167 · OLDE TOWNE · Portsmouth VA
Updated Jun 8, 2026 · Source: REIN MLS
Est. payment
$2,307/mo
Edit below
Price / sq ft
$283
1,271 sq ft
Days on market
3
New listing
HOA
None
Year built
1996
30 yrs old
Beds
2
Full Baths
2
Half Baths
0
Sq Ft
1,271
Garage
Yes
Schools
- ElementaryPark View Elementary School5/10
- MiddleChurchland Middle School5/10
- 2/10
Info provided by GreatSchools
About this home
Welcome to Admirals Landing and luxury waterfront living in the heart of Olde Towne Portsmouth. This beautifully updated 2 bedroom 2 bathroom condo offers stunning Elizabeth River and Norfolk Waterside views from two private balconies. Features include a renovated kitchen with granite countertops and stainless steel appliances, fully updated spa style bathrooms, spacious dining room, custom ClosetMaid built-ins with…
Listed by Catherine Underwood · BHHS RW Towne Realty
VaHome Team property overview
475 Water Street #302 is a 2-bed, 2-bath condo in Portsmouth's historic Olde Towne waterfront district, steps from the Elizabeth River, top-rated dining, and two major military installations — all packed into 1,271 square feet of well-designed living space.
Read full property overview ↓Show less ↑
Why this home stands out
What sets this address apart is the rare combination of walkable urban convenience and genuine waterfront character. River Front Park is literally at your doorstep, Crawford Restaurant and Thyme On The River are a one-minute stroll away, and both USCG Base Portsmouth and Norfolk Naval Shipyard are within a mile. For a condo built in 1996, the location density is hard to match anywhere in Hampton Roads.
OLDE TOWNE and the Portsmouth real estate market
475 Water Street #302 sits in the heart of Olde Towne Portsmouth, one of the most historically rich and walkable neighborhoods in all of Portsmouth, Virginia. The streets here are lined with 18th- and 19th-century architecture, independent restaurants, boutique shops, and public green spaces that spill right down to the Elizabeth River. It's the kind of neighborhood where morning coffee at Olde Towne Coffee and an evening walk along the riverfront feel less like weekend treats and more like Tuesday routines. Portsmouth itself occupies a central position in the Hampton Roads metro — bordered by the Elizabeth River to the east and connected to Norfolk and the broader region by tunnel and bridge. The city blends genuine maritime history with a growing arts and dining scene, and Olde Towne is its most walkable, most storied pocket. Whether you're drawn by the water, the architecture, or the proximity to major employers and military installations, this address puts you at the intersection of all of it.
What's nearby
Daily life is remarkably convenient from Water Street. Simply Southern Market of Hampton Roads and Market Street & General Store are both within 0.2 miles for quick grocery runs, with Bier Garden Gift Shop & Market just a block further. Crawford Restaurant, Thyme On The River, and Peter's Market are all within 0.1 miles — dinner plans practically make themselves. Olde Towne Coffee is a short walk for your morning cup, and Wawa is under a mile when you need something fast. River Front Park is right outside your door, Marquis De Lafayette Park is 0.1 miles away, and Portside Park rounds out the green space within easy walking distance. Movement Studio VA and the Effingham Street Family YMCA keep fitness options close.
For different buyers
For military families relocating
USCG Base Portsmouth is essentially adjacent, and Norfolk Naval Shipyard is a one-minute commute — it's genuinely hard to find a condo this close to two installations simultaneously. A VA loan can make ownership here straightforward, and the walkable location means one car can comfortably handle daily life for a busy military household.
For first-time buyers
If you're buying your first home and want to skip the suburban commute, 475 Water Street #302 is worth a serious look. At 1,271 square feet with 2 beds and 2 baths, there's real room to grow. The walkable Olde Towne setting means restaurants, coffee, groceries, and parks are all on foot — and a VA loan could make the numbers work better than you'd expect.
Frequently asked questions
How far is 475 Water Street #302 from Norfolk Naval Shipyard?
Norfolk Naval Shipyard is approximately one minute away by car — the shipyard's gates are essentially within the same immediate neighborhood as this address.
Is 475 Water Street #302 in a flood zone?
Portsmouth's Olde Towne waterfront area includes properties in various FEMA flood zones; check the FloodRisk tile on this page for the specific designation assigned to this address.
What is the HOA situation at 475 Water Street #302?
This condo is part of a homeowners association — the HOA covers shared building and common area maintenance, which is typical for a multi-unit residential building of this type.
How walkable is the area around 475 Water Street in Portsmouth?
Extremely walkable — River Front Park is at your doorstep, multiple restaurants and coffee shops are within 0.1 to 0.2 miles, and grocery options are under a quarter mile away.
What year was the building at 475 Water Street built?
The building was constructed in 1996, placing it in a generation of Olde Towne waterfront development that brought residential condos to one of Portsmouth's most historic corridors.
Want to see Unit 302 in person or talk through the numbers with a local expert? Tom and Dariya Milan know this waterfront corridor well — reach out and let's set something up.
Summary generated by AI from public records and publicly available information.
Location & Neighborhood
Places within ~1 mile, ordered by distance from this property. Powered by Google Places.
Flood Risk
Property Details
Bedrooms
2
Full Baths
2
Half Baths
0
Approx Sq Ft
1,271
Stories
1
Fireplaces
0
Flooring
Ceramic, Laminate/LVP
Heating
Cooling
Laundry
Interior Features
N/A
Appliances
Dishwasher, Disposal, Dryer Hookup, Microwave, Elec Range, Refrigerator, Washer Hookup
Sale & Tax History
List Price
$360,000
Price / Sq Ft
$283
Annual Taxes
$4,006
Monthly Tax
$334
HOA
None
Tax Rate (effective)
1.11%
Sale Timeline (this listing)
| Event | Date | Price | Detail |
|---|---|---|---|
| Listed | Jun 5, 2026 | $360,000 | — |
| Currently listed | — | $360,000 | — |
Looking for multi-year tax assessments or prior sales? REIN MLS only ships data for the current listing. For full property history, check the city assessor record:
Tax data above from REIN public-records sync. Sale timeline tracked from this listing's first appearance in our feed forward; prior owner sales are not included.
Comparable Properties
Comps are selected by city, bed count, square footage and price proximity. Composite similarity score weights bed match, sqft variance, price variance, and straight-line distance.
About buying in Portsmouth
Homes for sale in Portsmouth, VA combine historic charm with the most affordable entry prices in Hampton Roads. Olde Towne Portsmouth (23704) features cobblestone streets and Federalist-era row houses overlooking the Elizabeth River, with active listings typically ranging $250K-$500K. Western Portsmouth's Churchland neighborhood (23703) offers larger suburban homes, top schools, and direct commutes to Norfolk Naval Shipyard. Park View (23707) and Cradock (23702) provide some of the most affordable single-family inventory in the region, often under $200K. Portsmouth's biggest employers are Norfolk Naval Shipyard (one of the largest ship-repair facilities in the country) and Naval Medical Center Portsmouth — Hampton Roads' largest military hospital. Active-duty military and shipyard families make up a significant share of buyers, and VA loan financing is common. Portsmouth Public Schools includes Churchland High, Manor High, and I.C. Norcom High; Churchland is consistently among the city's top-performing high schools. Buyers looking for waterfront views without Virginia Beach prices often find Portsmouth's Olde Towne and Hodges Ferry areas particularly attractive. Browse every active Portsmouth listing below, refreshed every 5 minutes from the REIN MLS.
Military Commute
Drive times to nearest basesDrive times via Google Maps with current traffic patterns. Times are typical and may vary by time of day. Use the "Analyze" button up top to see live drive time to your saved base.
Estimate your monthly payment
$2,307/moPrincipal & interest
$1,868
Property tax
$334
Home insurance
$105
PMI
None
HOA
None
Estimate only. Insurance assumed at 0.35% of home value annually. Actual taxes, insurance, and rate will vary by lender, credit, and property. Contact a lender for a personalized quote.
Listed by BHHS RW Towne Realty · MLS# 10638167
Data provided by REIN MLS. Information deemed reliable but not guaranteed.
$360,000
475 Water ST #302, PORTSMOUTH VA 23704
Portsmouth, Virginia 23704
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