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600 74th St
Newport News, VA 23605
New Market Apartments · Immeuble residentiel Propriété À vendre
·
12 Unités
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Significant capital improvements totaling approximately $200,000, including HVAC systems, sewer line replacement, and site enhancements.
- In-place gross annual rental income of roughly $150,732, supported by consistent leasing performance.
- Strong operating performance with estimated Net Operating Income of $108,767 and a projected 7.3% cap rate at offering.
- Stabilized occupancy structure with a mix of Section 8 and market-rate tenants, plus assurance of full occupancy at closing.
- Bathroom and interior upgrades across multiple units, enhancing tenant appeal and retention.
- Property positioned for long-term stability with minimal anticipated near-term maintenance costs.
Résumé de l'annonce
New Market Apartments offers investors a stabilized 12-unit multifamily property with significant recent capital improvements, ensuring reduced future maintenance requirements. Approximately $200,000 has been invested in property enhancements, including 12 new HVAC systems, eight new hot water heaters, main sewer line replacement, structural reinforcement, and upgrades to bathrooms, flooring, and site infrastructure. These updates position the asset for long-term durability and tenant satisfaction.
The current tenant mix includes four Section 8 residents and six market-rate renters, with two units in lease-up; the seller will deliver the asset fully leased. Current rental rates average $1,050 per unit, producing steady income supported by government-assisted leases. At the offering price of $1,500,000, the property achieves an estimated Net Operating Income (NOI) of $108,767, translating to an approximate 7.3% cap rate under self-management.
Located in Newport News, the property benefits from strong regional employment drivers, robust transportation infrastructure, and proximity to major highways and economic hubs. This acquisition provides an opportunity for an investor seeking stabilized cash flow, predictable returns, and limited near-term capital investment requirements.
The current tenant mix includes four Section 8 residents and six market-rate renters, with two units in lease-up; the seller will deliver the asset fully leased. Current rental rates average $1,050 per unit, producing steady income supported by government-assisted leases. At the offering price of $1,500,000, the property achieves an estimated Net Operating Income (NOI) of $108,767, translating to an approximate 7.3% cap rate under self-management.
Located in Newport News, the property benefits from strong regional employment drivers, robust transportation infrastructure, and proximity to major highways and economic hubs. This acquisition provides an opportunity for an investor seeking stabilized cash flow, predictable returns, and limited near-term capital investment requirements.
Faits sur la propriété
| Prix par unité | 176 337 $ CAD | Classe d’immeuble | C |
| Type de vente | Investissement | Taille du lot | 0,48 AC |
| Taux de capitalisation | 7,25% | Taille du bâtiment | 11 400 pi² |
| Condition de vente | 1031 Échange | Occupation moyenne | 100% |
| Nombre d’unités | 12 | Nombre d’étages | 2 |
| Type de propriété | Immeuble residentiel | Année de construction/rénovation | 1966/2025 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 1,14/1 000 pi² |
| Style d’appartement | De faible hauteur | ||
| Zonage | C2 / R4 - C2/R4 | ||
| Prix par unité | 176 337 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 7,25% |
| Condition de vente | 1031 Échange |
| Nombre d’unités | 12 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,48 AC |
| Taille du bâtiment | 11 400 pi² |
| Occupation moyenne | 100% |
| Nombre d’étages | 2 |
| Année de construction/rénovation | 1966/2025 |
| Ratio de stationnement | 1,14/1 000 pi² |
| Zonage | C2 / R4 - C2/R4 |
Commodités
Commodités des unités
- Climatisation
- Ventilateurs de plafond
- Cuisine
- Tapis
- Salle à manger
Commodités du site
- Système de sécurité
- Salle de bain privée
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 2+1 | 12 | 1 375 $ CAD | 950 - 11 400 |
Impôts fonciers
| Numéro de lot | 279.00-02-14 | Évaluation des bâtiments | 908 608 $ CAD |
| Évaluation du terrain | 170 364 $ CAD | Évaluation totale | 1 078 972 $ CAD |
Impôts fonciers
Numéro de lot
279.00-02-14
Évaluation du terrain
170 364 $ CAD
Évaluation des bâtiments
908 608 $ CAD
Évaluation totale
1 078 972 $ CAD
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