Listed by Marcus & Millichap - Hampton Roads
$1,550,000
10710 & 10714 Jefferson Avenue & 500 Powellville Lane
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,050
Net Rentable (SqFt) 11,050
Units 17
Cap Rate 8.29%
NOI $128,481
Pro-Forma Cap Rate 9%
Pro-Forma NOI $139,426
Price per SqFt $140
Class C
Year Built 1960
Buildings 3
Stories 1
Acreage 0.320
$1.7M Multifamily Value-Add | 12.42% Total Return in Newport News, VA
Marketing description
Marcus & Millichap is pleased to present the offering memorandum for 10710 & 10714 Jefferson Avenue and 500 Powellville Lane Newport News, VA 23061.
The portfolio consists of seventeen units total. There are two, studio units, thirteen, one-bedroom and one-bathroom units and two, two-bedroom and one-bathroom units. 10710 Jefferson Avenue was built in 1960 and situated on 0.32 ac.
Investment highlights
Favorable Unit Mix: Studio, One- & Two-Bedroom
Fully Renovated Units
Turnkey Property
Centralized Location: Minutes from Newport News Shipyard, Christopher Newport University, HRBT & I-64
Listing Contacts
Listed by Marcus & Millichap - Hampton Roads
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$128,481.00
$10,706.75/mo
Valuation Metrics
0
DSCR
8.29%
Cap Rate
8.29%
ROI
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