67 days on market
$315,000
475 Water St #515
Portsmouth, Virginia 23704
MLS# 10624641 · OLDE TOWNE · Portsmouth VA
Updated 5 days ago · Source: REIN MLS
Est. payment
$2,039/mo
Edit below
Price / sq ft
$269
1,170 sq ft
Days on market
67
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
Meet 475 Water Street #515 — a 2-bed, 2.1-bath condo in Portsmouth's historic Olde Towne district, steps from the Elizabeth River waterfront. At 1,170 square feet with a 1997 build, it puts walkable dining, parks, and two major military installations practically at your door.
Read full property overview ↓Show less ↑
Why this home stands out
Few addresses in Hampton Roads place you this close to both the Elizabeth River waterfront and the heartbeat of a genuine historic district. Olde Towne's brick-lined streets, independent restaurants, and riverfront parks are all within a short walk, while USCG Base Portsmouth and Norfolk Naval Shipyard are each reachable in under two minutes by car — a combination that's genuinely hard to replicate anywhere else in the region.
OLDE TOWNE and the Portsmouth real estate market
Olde Towne Portsmouth is one of the oldest and most architecturally rich neighborhoods in Virginia, and 475 Water Street sits right at its waterfront edge. The district spans roughly 40 blocks of preserved Federal, Greek Revival, and Victorian architecture dating back to the 18th century, giving everyday life here a texture you simply don't find in newer developments. Crawford Boulevard and High Street anchor a walkable core of independent shops, galleries, and eateries, while the Elizabeth River Trail connects the neighborhood to the broader Portsmouth and Norfolk waterfronts. For anyone browsing seaside homes for sale in Hampton Roads, Olde Towne consistently stands out as a place where history, community, and water access converge in a way that feels lived-in rather than curated. Portsmouth as a city is undergoing real investment — the waterfront corridor in particular has seen steady energy from new businesses and public improvements — and Olde Towne remains its most storied address.
What's nearby
Step outside and River Front Park is literally at your doorstep, with Marquis De Lafayette Park just a block away and Portside Park a short stroll down the waterfront. Hungry? Crawford Restaurant and Thyme On The River are each within 0.1 miles, and Peter's Market rounds out the immediate dining options. Olde Towne Coffee is your 0.2-mile morning ritual, with Cure and a Wawa both reachable in under a mile. Grocery runs are equally painless — Simply Southern Market of Hampton Roads, Market Street & General Store, and Bier Garden Gift Shop & Market are all within 0.3 miles. Movement Studio VA is 0.2 miles away for daily workouts, and the Effingham Street Family YMCA and Brikhouse Boxing and Fitness are both under a mile.
For different buyers
For military families relocating
USCG Base Portsmouth is essentially across the street, and Norfolk Naval Shipyard is a one-minute drive — it's rare to find a condo that eliminates the commute this completely. A VA loan can make ownership here straightforward, and your BAH in the E-6 and above range typically aligns well with waterfront Olde Towne pricing. For Coast Guard and Shipyard personnel, this address is about as practical as it gets.
For first-time buyers
If you've been weighing your options and want a property that gives you walkable city life, genuine historic character, and a waterfront location without requiring a car for daily errands — 475 Water Street #515 is worth a serious look. At 1,170 square feet across two bedrooms and two and a half baths, it's a manageable, well-proportioned first home in one of Portsmouth's most established and recognizable neighborhoods.
Frequently asked questions
How far is 475 Water Street #515 from USCG Base Portsmouth?
USCG Base Portsmouth is essentially adjacent — the drive is under a minute, and the base is visible from the surrounding waterfront area. It's one of the closest residential addresses to the base in all of Portsmouth.
How far is 475 Water Street #515 from Norfolk Naval Shipyard?
Norfolk Naval Shipyard is approximately a one-minute drive from this address, making it one of the most convenient locations in the region for Shipyard personnel.
What is the walkability like at 475 Water Street #515?
Walkability is genuinely excellent here — River Front Park is at your doorstep, multiple restaurants and coffee shops are within 0.1 to 0.2 miles, and grocery options are within 0.3 miles. Most daily errands can be handled entirely on foot.
Is 475 Water Street #515 in a flood zone?
Given its waterfront location in Portsmouth, flood zone status is an important consideration — check the FloodRisk tile on this page for the current FEMA designation and flood insurance requirements specific to this unit.
Does 475 Water Street #515 have an HOA?
Yes, as a condominium in a multi-unit building, this property is subject to an HOA. Your agent can provide the current HOA documents, bylaws, and any associated rules for the building.
Want to see 475 Water Street #515 in person or get your questions answered? Tom and Dariya Milan at LPT Realty know Olde Towne well — reach out and let's set up a time that works for you.
Summary generated by AI from public records and publicly available information.
Location & Neighborhood
Location & Street View
475 Water ST #515, Portsmouth
Map and Street View imagery © Google. Imagery may not be current.
Map data ©Google. Click and drag inside the map to explore the surrounding area.
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
$315,000
Price / Sq Ft
$269
Annual Taxes
$3,752
Monthly Tax
$313
HOA
None
Tax Rate (effective)
1.19%
Sale Timeline (this listing)
| Event | Date | Price | Detail |
|---|---|---|---|
| Listed | Mar 13, 2026 | $315,000 | — |
| Currently listed | — | $315,000 | — |
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
Portsmouth combines historic naval heritage with affordable, character-rich neighborhoods. Olde Towne Portsmouth offers tree-lined streets of restored 18th- and 19th-century homes with sweeping Elizabeth River views — one of the largest collections of pre-Revolutionary architecture in the country. Churchland, Cradock, and West Park View provide established family neighborhoods at price points well below comparable Norfolk or Virginia Beach properties. The city is home to Norfolk Naval Shipyard, one of the Navy's oldest and largest, ensuring consistent demand from civilian shipyard workers and active-duty Navy personnel.
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
$2,039/moPrincipal & interest
$1,634
Property tax
$313
Home insurance
$92
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.
$315,000
475 Water ST #515, PORTSMOUTH VA 23704
Portsmouth, Virginia 23704
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