Multifamily
Colony Square
52 Colony Square Ct, Newport News, VA 23602
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present the offering memorandum for Colony Square Apartments located at 52-53 Colony Square Court in Newport News, VA.
The portfolio consists of ninety-two units total. There are forty-four, one-bedroom and one-bathroom units, forty, two-bedroom and two-bathroom units and eight, three-bedroom and two-bathroom units. Colony Square’s one-bedroom units were built in 1974, two- & three-bedrooms were built in 2002 and thirty-six units were renovated in 2024. The property is situated on 4.27 ac.
Colony Square
Investment Highlights
- SPACIOUS UNITS Larger than Average Unit Size, Offering More Livable Space
- SIGNIFICANT UPSIDE IN NOI $378,280, 3 strategies: Op Ex Savings, Loss to Lease Burn-off & Renovation Premium
- AVERAGE LEASE RENEWAL RENT GROWTH Average Lease Renewal Rent Growth: ~5.5%
- NEW LEASE RENT GROWTH Average New Lease Rent Growth: ~6.00%
- TRANSIT ORIENTED Easy access to Hampton Roads Bridge Tunnel, I-64, I-664 & James River Bridge
- EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS Within 10 minutes from Huntington Ingalls, Canon, Christopher Newport University, and Newport News Shipbuilding
Exclusively Listed By
Financing By
Investment Highlights
- SPACIOUS UNITS Larger than Average Unit Size, Offering More Livable Space
- SIGNIFICANT UPSIDE IN NOI $378,280, 3 strategies: Op Ex Savings, Loss to Lease Burn-off & Renovation Premium
- AVERAGE LEASE RENEWAL RENT GROWTH Average Lease Renewal Rent Growth: ~5.5%
- NEW LEASE RENT GROWTH Average New Lease Rent Growth: ~6.00%
- TRANSIT ORIENTED Easy access to Hampton Roads Bridge Tunnel, I-64, I-664 & James River Bridge
- EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS Within 10 minutes from Huntington Ingalls, Canon, Christopher Newport University, and Newport News Shipbuilding
Investment Overview
Marcus & Millichap is pleased to present the offering memorandum for Colony Square Apartments located at 52-53 Colony Square Court in Newport News, VA. The portfolio consists of ninety-two units total. There are forty-four, one-bedroom and one-bathroom units, forty, two-bedroom and two-bathroom units and eight, three-bedroom and two-bathroom units. Colony Square’s one-bedroom units were built in 1974, two- & three-bedrooms were built in 2002 and thirty-six units were renovated in 2024. The property is situated on 4.27 ac.
Exclusively Listed By
Financing By
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