Investment Overview

Marcus & Millichap is pleased to present its Offering Memorandum for Chestnut Apartments, a 32-unit property with all two-bedroom and one bathroom units. Positioned at 1705-1733 Chestnut St in Portsmouth, Virginia, the property enjoys easy access to Interstate 464 and Interstate 264 with proximity to Ports-mouth Naval Hospital and Naval Shipyard. The property is also located less than 5 miles from the Waterside District, Sentara Norfolk General Hospital, and EVMS Medical Group in Norfolk. Located in southeastern Virginia, Portsmouth is a historic city with a rich maritime heritage and strategic location along the Elizabeth River. As part of the Hampton Roads metropolitan area, Portsmouth is known for its vibrant economy, diverse community, and abundant cultural and recreational amenities. The city, with a population of approximately 95,000, benefits from its proximity to major cities such as Norfolk, Chesapeake, and Virginia Beach. The city is home to the Children’s Museum of Virginia, one of the largest children’s museums in the state, and the Portsmouth Naval Shipyard Museum, which highlights the city’s rich maritime history. The Virginia Sports Hall of Fame, located in Portsmouth, celebrates the achievements of Virginia’s athletes and offers interactive exhibits.