Log In/Sign Up
Your email has been sent.
2121 Kecoughtan Rd
Hampton, VA 23661
Colonial Landing Apartments · Multifamily Property For Sale
·
92 Units
INVESTMENT HIGHLIGHTS
- $3,300,000 | $35,870 PPU
- Rare and Substantial Value-Add Opportunity for an Experienced Operator
- To be Delivered Fully Vacant and Currently Condemned by the City of Hampton
- 92 Units: A Mix of One-, Two- & Three-Bedroom Layouts
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the offering memorandum for Colonial Landing located at 2121 Kecoughtan Road Hampton, VA 23661
The property consists of ninety-two units across three, three-story buildings. There are a mix of one-, two- & three-bedroom layouts. Colonial Landing was built in 1938 and situated on 5.33 acres.
Offered at $3.3MM, this 92-unit multifamily asset in Hampton, VA is to be delivered fully vacant (currently condemned by the City of Hampton with no certificate of occupancy) —presenting a rare and substantial value-add opportunity. Situated near Newport News Shipbuilding, one of the region’s largest economic drivers, the property is ideally located for long-term rental demand. Investors have a clear path to reposition and stabilize the asset through a full renovation, with significant potential to unlock value well above the acquisition price. Ideal for experienced operators seeking scale and upside in a high-demand market.
The property consists of ninety-two units across three, three-story buildings. There are a mix of one-, two- & three-bedroom layouts. Colonial Landing was built in 1938 and situated on 5.33 acres.
Offered at $3.3MM, this 92-unit multifamily asset in Hampton, VA is to be delivered fully vacant (currently condemned by the City of Hampton with no certificate of occupancy) —presenting a rare and substantial value-add opportunity. Situated near Newport News Shipbuilding, one of the region’s largest economic drivers, the property is ideally located for long-term rental demand. Investors have a clear path to reposition and stabilize the asset through a full renovation, with significant potential to unlock value well above the acquisition price. Ideal for experienced operators seeking scale and upside in a high-demand market.
PROPERTY FACTS
| Price Per Unit | $50,071 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 5.33 AC |
| Sale Condition | Redevelopment Project | Building Size | 83,274 SF |
| No. Units | 92 | Average Occupancy | 50% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1938 |
| Apartment Style | Low-Rise | Parking Ratio | 1.18/1,000 SF |
| Zoning | RM - To be delivered fully vacant and currently condemned by the City of Hampton with no certificate of occupancy | ||
| Price Per Unit | $50,071 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 92 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 5.33 AC |
| Building Size | 83,274 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built | 1938 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | RM - To be delivered fully vacant and currently condemned by the City of Hampton with no certificate of occupancy |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 30 | - | - |
| 2+1 | 15 | - | - |
| 2+1.5 | 16 | - | - |
| 3+1 | 31 | - | - |
PROPERTY TAXES
| Parcel Number | 1003662 | Improvements Assessment | $1,000,700 CAD |
| Land Assessment | $1,937,382 CAD | Total Assessment | $2,938,082 CAD |
PROPERTY TAXES
Parcel Number
1003662
Land Assessment
$1,937,382 CAD
Improvements Assessment
$1,000,700 CAD
Total Assessment
$2,938,082 CAD
1 of 2
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
