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Icon Studio Apartments 15589 Lee Hwy 61 Unité Immeuble d’appartements 6 207 608 $ CAD (101 764 $ CAD/Unité) 6,23% Taux de capitalisation Bristol, VA 24202
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Recently renovated 61-unit workforce housing asset with upside through operational improvements and stabilization.
- All 60 units were fully renovated in 2024.
- Opportunity for new ownership to bill back $20-25 for water and electricity.
- Current ownership has spent $1,252,812 on capital improvements in the past 36 months.
- HVACs consist of Electric PTAC units (All Replaced in 2024).
Résumé de l'annonce
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/306976/icon-studio-apartments
Marcus & Millichap has been selected to exclusively market for sale the Icon Studio Apartments in Bristol, VA. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in a growing regional economic hub.
This offering provides investors the opportunity to acquire a well-located multifamily asset with meaningful upside through improved operations and stabilization. The property is currently operating below market potential, creating an opportunity to increase cash flow through more efficient expense management and stronger day-to-day operations. Its studio-focused unit mix serves a segment of the rental market that continues to see steady demand, while limited competing supply supports long-term occupancy fundamentals. With a basis well below recent valuation benchmarks and upside that can be realized without a major renovation program, the property presents a straightforward value-add opportunity in the Bristol market.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Icon Studio Apartments.
Marcus & Millichap has been selected to exclusively market for sale the Icon Studio Apartments in Bristol, VA. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in a growing regional economic hub.
This offering provides investors the opportunity to acquire a well-located multifamily asset with meaningful upside through improved operations and stabilization. The property is currently operating below market potential, creating an opportunity to increase cash flow through more efficient expense management and stronger day-to-day operations. Its studio-focused unit mix serves a segment of the rental market that continues to see steady demand, while limited competing supply supports long-term occupancy fundamentals. With a basis well below recent valuation benchmarks and upside that can be realized without a major renovation program, the property presents a straightforward value-add opportunity in the Bristol market.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Icon Studio Apartments.
Faits sur la propriété
| Prix | 6 207 608 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 101 764 $ CAD | Classe d’immeuble | C |
| Type de vente | Investissement | Taille du lot | 2,92 AC |
| Taux de capitalisation | 6,23% | Taille du bâtiment | 122 680 pi² |
| Nombre d’unités | 61 | Nombre d’étages | 2 |
| Type de propriété | Immeuble residentiel | Année de construction/rénovation | 1962/2021 |
| Sous-type de propriété | Appartement | Zone de développement économique |
Oui
|
| Zonage | B2 BUSINES | ||
| Prix | 6 207 608 $ CAD |
| Prix par unité | 101 764 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,23% |
| Nombre d’unités | 61 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 2,92 AC |
| Taille du bâtiment | 122 680 pi² |
| Nombre d’étages | 2 |
| Année de construction/rénovation | 1962/2021 |
| Zone de développement économique |
Oui |
| Zonage | B2 BUSINES |
Commodités
Commodités des unités
- Climatisation
- Lave-vaisselle
- Micro-ondes
- Espace d'entreposage
- Laveuse/Sécheuse
- Chauffage
- Cuisine
- Réfrigérateur
- Four
- Bain/Douche
- Congélateur
Commodités du site
- Accès 24 heures
- Gestionnaire d'immeuble sur place
- CVCA contrôlé par le locataire
- Pistes cyclables/Piétonnières
- Détecteur de fumée
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| Studios | 60 | - | 490 |
1 1
Relativement accessible à pied
20/100
Exceptionnellement adapté aux voitures
100/100
Relativement accessible en vélo
30/100
Impôts fonciers
| Numéro de lot | 143A4-A-7 | Évaluation des bâtiments | 1 017 624 $ CAD |
| Évaluation du terrain | 397 287 $ CAD | Évaluation totale | 1 414 911 $ CAD |
Impôts fonciers
Numéro de lot
143A4-A-7
Évaluation du terrain
397 287 $ CAD
Évaluation des bâtiments
1 017 624 $ CAD
Évaluation totale
1 414 911 $ CAD
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Présenté par
Icon Studio Apartments | 15589 Lee Hwy
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