500 Powellville Ln #F0c41da8e, Newport News, VA, 23601

About This Home

Offered at $1,500,000, Tall Oaks Apartments presents an opportunity to acquire a well-located 17-unit multifamily property in Newport News, Virginia. The property consists of five buildings situated across contiguous parcels along Jefferson Avenue. The unit mix includes 2 studio apartments, 13 one-bedroom/one-bath apartments and 2 two-bedroom/one-bath apartments. The property is being offered at a 7.3% current cap rate at the asking price, with rents below market and upside potential without capital investment. This is a direct sale by owner. A detailed offering package, rent roll, leases, historical operating statements and supporting financial information are available to qualified prospective purchasers following execution of a confidentiality and nondisclosure agreement. Showings are by appointment only. Please do not disturb tenants. All financial figures are provided for informational purposes and should be independently verified by the purchaser during due diligence.