81 days on market
$312,500
475 Water St #515
Portsmouth, Virginia 23704
MLS# 10624641 · OLDE TOWNE · Portsmouth VA
Updated Jun 2, 2026 · Source: REIN MLS
Est. payment
$2,025/mo
Edit below
Price / sq ft
$267
1,170 sq ft
Days on market
81
HOA
None
Year built
1997
29 yrs old
Beds
2
Full Baths
2
Half Baths
1
Sq Ft
1,170
Garage
Yes
Schools
- ElementaryPark View Elementary School5/10
- MiddleChurchland Middle School5/10
- 2/10
Info provided by GreatSchools
About this home
Waterfront living at it's finest in Admiral's Landing, boasting two private balconies and amazing views of the Elizabeth River from Portsmouth to Norfolk. Night/light views are beautiful! New water heater 2026, newer appliances in this lovingly maintained 5th floor unit. Enjoy the new seawall and take the Ferry which docks right next door for a short cruise over to Downtown Norfolk, Waterside and Harbor Park. Condo a…
Listed by Donna Steward · Long & Foster Real Estate Inc.
VaHome Team property overview
475 Water Street #515 puts you in the heart of Olde Towne Portsmouth — a two-bedroom, two-and-a-half-bath condo steps from the Elizabeth River waterfront, with Norfolk Naval Shipyard literally a minute away and a walkable historic district right outside your door.
Read full property overview ↓Show less ↑
Why this home stands out
What sets Unit 515 apart is the rare combination of waterfront-district living and near-zero commute to two major installations. At 1,170 square feet across two bedrooms and two-and-a-half baths, this 1997-built condo delivers a full residential footprint inside one of Hampton Roads' most walkable, character-rich neighborhoods — without trading convenience for charm. River Front Park is at your doorstep, and a half-dozen restaurants are within a two-minute walk.
OLDE TOWNE and the Portsmouth real estate market
Olde Towne Portsmouth is one of the most distinctive urban neighborhoods in all of Hampton Roads. Cobblestone streets, 18th- and 19th-century architecture, and a working waterfront give the district a texture you simply won't find in the region's newer suburbs. The Elizabeth River runs along its eastern edge, and the neighborhood's compact grid means nearly everything — coffee, groceries, parks, and dinner — is reachable on foot. Portsmouth itself sits at the geographic center of Hampton Roads, bordered by the Elizabeth River to the east and connected to Norfolk by the Downtown Tunnel and the Pedestrian Ferry. The city carries a proud naval heritage, and Olde Towne is its cultural anchor: galleries, independent restaurants, and weekend farmers markets fill the historic blocks. Living at 475 Water Street #515 means you're not just in Portsmouth — you're in the neighborhood that defines it.
What's nearby
Step outside and River Front Park is immediately at hand, with Marquis De Lafayette Park and Portside Park both within a two-minute walk. Crawford Restaurant, Thyme On The River, and Peter's Market are all within a block for weeknight dinners or weekend brunches. Olde Towne Coffee is 0.2 miles away for your morning routine, and Wawa and Cure give you backup options a little further down the road. Groceries are covered by Simply Southern Market of Hampton Roads, Market Street & General Store, and Bier Garden Gift Shop & Market — all within a third of a mile. Movement Studio VA is nearby for daily workouts, with Effingham Street Family YMCA and Brikhouse Boxing and Fitness rounding out your fitness options.
For different buyers
For military families relocating
USCG Base Portsmouth is essentially at your front door, and Norfolk Naval Shipyard is a one-minute drive — making Unit 515 one of the shortest possible commutes in Hampton Roads for active-duty members assigned to either installation. A VA loan can make ownership here straightforward, and the walkable neighborhood means a second car is often optional for daily errands.
For buyers drawn to character
If you've been searching for a home with real urban energy — historic streetscapes, independent restaurants, river views, and a neighborhood that has genuine roots — Olde Towne Portsmouth delivers all of it. Unit 515 at 475 Water Street puts you inside one of Hampton Roads' most architecturally rich districts, where the Elizabeth River waterfront is your backyard and the city's history is literally built into the streets.
Frequently asked questions
How far is 475 Water Street #515 from Norfolk Naval Shipyard?
Norfolk Naval Shipyard is approximately a one-minute drive from 475 Water Street, making this one of the closest residential addresses to the shipyard in the entire Hampton Roads region.
Is 475 Water Street #515 in a walkable area?
Yes — the property sits in Olde Towne Portsmouth, one of the most walkable neighborhoods in Hampton Roads, with parks, restaurants, coffee shops, and grocery options all within a quarter mile.
What is the flood zone status for 475 Water Street #515?
Given its proximity to the Elizabeth River waterfront, buyers should review the current FEMA flood zone designation for this property; that information is displayed in the FloodRisk tile on this page.
Does 475 Water Street #515 have an HOA?
Yes, the property is part of a condominium association; buyers should request the current HOA documents, including bylaws and reserve fund disclosures, during due diligence.
How far is 475 Water Street #515 from USCG Base Portsmouth?
USCG Base Portsmouth is essentially adjacent to 475 Water Street, with a drive time of under a minute — one of the most convenient locations in Hampton Roads for Coast Guard personnel.
Want to see Unit 515 in person or talk through the numbers? Tom and Dariya Milan at LPT Realty know Olde Towne Portsmouth 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
1
Approx Sq Ft
1,170
Stories
2
Fireplaces
0
Flooring
Carpet, Ceramic
Heating
Cooling
Laundry
Interior Features
N/A
Appliances
Dishwasher, Disposal, Dryer, Dryer Hookup, Microwave, Elec Range, Refrigerator, Washer, Washer Hookup
Sale & Tax History
List Price
$312,500
Price / Sq Ft
$267
Annual Taxes
$3,752
Monthly Tax
$313
HOA
None
Tax Rate (effective)
1.20%
Sale Timeline (this listing)
| Event | Date | Price | Detail |
|---|---|---|---|
| Listed | Mar 13, 2026 | $312,500 | — |
| Currently listed | — | $312,500 | — |
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
$2,025/moPrincipal & interest
$1,621
Property tax
$313
Home insurance
$91
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 Long & Foster Real Estate Inc. · MLS# 10624641
Data provided by REIN MLS. Information deemed reliable but not guaranteed.
$312,500
475 Water ST #515, PORTSMOUTH VA 23704
Portsmouth, Virginia 23704
Request InfoQuick Facts
Schedule a tour
In-person or videoClick a day to pick a time