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505 Randolph Rd
Newport News, VA 23601
Deltha Gardens · Multifamily Property For Sale
·
7 Units
Investment Highlights
- 7 Units: A Mix of Two- & Four-Bedroom Units
- Operational Value-Add Opportunity
- EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS Within 10 minutes from Newport News/Williamsburg International Airport, Hampton University, and Newport
- Fully Renovated with Washer & Dryer in Each Unit
- TRANSIT ORIENTED Easy access to Hampton Roads Bridge Tunnel, I-64, I-664 & James River Bridge
Executive Summary
Marcus & Millichap is pleased to present the offering memorandum for Deltha Gardens located at 505-511 Randolph Street in Newport News, Virginia.
The property consists of seven units built in 1969. There are a mix of two- and four- bedroom units that are situated on 0.34 acres.
Newport News is home to the Newport News Shipbuilding, the largest shipbuilding company in the United States. The shipyard has a long-standing tradition of constructing military and commercial vessels, including aircraft carriers and submarines. The Port of Newport News is also an important deep water port for shipping and trade. In addition the city is host to prominent educational institutions like Christopher Newport University, a public liberal arts university known for its strong academic programs. The city also has various research
facilities and technical training centers, contributing to the intellectual and technological advancement of the region.
The property consists of seven units built in 1969. There are a mix of two- and four- bedroom units that are situated on 0.34 acres.
Newport News is home to the Newport News Shipbuilding, the largest shipbuilding company in the United States. The shipyard has a long-standing tradition of constructing military and commercial vessels, including aircraft carriers and submarines. The Port of Newport News is also an important deep water port for shipping and trade. In addition the city is host to prominent educational institutions like Christopher Newport University, a public liberal arts university known for its strong academic programs. The city also has various research
facilities and technical training centers, contributing to the intellectual and technological advancement of the region.
Property Facts
| Price Per Unit | $149,052 CAD | Property Subtype | Apartment |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.97% | Lot Size | 0.35 AC |
| Gross Rent Multiplier | 8.24 | Building Size | 5,600 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Zoning | R7 | ||
| Price Per Unit | $149,052 CAD |
| Sale Type | Investment |
| Cap Rate | 7.97% |
| Gross Rent Multiplier | 8.24 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 5,600 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Zoning | R7 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $483,580 CAD | |
| Land Assessment | $132,469 CAD | Total Assessment | $616,049 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$132,469 CAD
Improvements Assessment
$483,580 CAD
Total Assessment
$616,049 CAD
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