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The Wythe Apartments 200 Claremont Ave 40 Unit Apartment Building $5,615,811 CAD ($140,395 CAD/Unit) 6.76% Cap Rate Hampton, VA 23661
Investment Highlights
- Award winning renovation completed in 2019
- Low maintenance exterior with brick and aluminum windows
- 100% Occupancy
Executive Summary
Modern apartments set within the confines of the historical Wythe Elementary School. Located two blocks from the Chesapeake Bay, this setting offers convenient access to the interstate while living in the friendly and active Wythe neighborhood. These units have high ceilings, lots of natural light. Stainless steel appliances fill the kitchen that include: an ice-maker, self-cleaning oven, washer and dryer and granite counters . Award winning, Mark Turner Construction, completed the renovation and adaptive reuse of the historic Wythe Elementary School in April 2020. The project converted this National Register Art Deco–influenced building c. 1936, into 40 market-rate apartments.
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Property Facts
| Price | $5,615,811 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $140,395 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 1.32 AC |
| Cap Rate | 6.76% | Building Size | 38,454 SF |
| No. Units | 40 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1936/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Zoning | R11 | ||
| Price | $5,615,811 CAD |
| Price Per Unit | $140,395 CAD |
| Sale Type | Investment |
| Cap Rate | 6.76% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.32 AC |
| Building Size | 38,454 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1936/2020 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | R11 |
Amenities
Unit Amenities
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 40 | - | 787 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 1004553 | Improvements Assessment | $6,366,030 CAD |
| Land Assessment | $830,442 CAD | Total Assessment | $7,196,472 CAD |
Property Taxes
Parcel Number
1004553
Land Assessment
$830,442 CAD
Improvements Assessment
$6,366,030 CAD
Total Assessment
$7,196,472 CAD
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The Wythe Apartments | 200 Claremont Ave
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