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Multifamily

Garden View Apartments

642 Dresden Dr, Newport News, VA 23601

Listing Price: $1,170,000

Cap Rate
7.05%
Number of Units
16
Price/Unit
$73,125
Price/Gross SF
$65.02
Gross SF
17,994

Investment Overview

The property consists of sixteen (16) 800 SF two-bedroom one-bathroom units in one two-story buildings constructed in 1965 and situated on 0.87 acres. The property’s central location affords residents easy access to Hampton Roads’ top employers. Given the property’s central location, value-add potential, and rent growth potential, the Asbury Place Apartments are positioned to provide investors strong long-term returns over the hold period.

Investment Highlights

  • 12 Units: All 2-Bedroom 2-Bathroom
  • 12 Minutes from Newport News Shipbuilding
  • 16 Minutes from Coliseum Central & Hampton Roads Convention Center
  • 7 Minutes from Christopher Newport University
  • Prime Candidate for Apartment Interior Renovations

Exclusively Listed By

Listing Price: $1,170,000

Cap Rate
7.05%
Number of Units
16
Price/Unit
$73,125
Price/Gross SF
$65.02
Gross SF
17,994

Investment Highlights

  • 12 Units: All 2-Bedroom 2-Bathroom
  • 12 Minutes from Newport News Shipbuilding
  • 16 Minutes from Coliseum Central & Hampton Roads Convention Center
  • 7 Minutes from Christopher Newport University
  • Prime Candidate for Apartment Interior Renovations

Investment Overview

The property consists of sixteen (16) 800 SF two-bedroom one-bathroom units in one two-story buildings constructed in 1965 and situated on 0.87 acres. The property’s central location affords residents easy access to Hampton Roads’ top employers. Given the property’s central location, value-add potential, and rent growth potential, the Asbury Place Apartments are positioned to provide investors strong long-term returns over the hold period.

Exclusively Listed By

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