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Tivoli Apartments 1027 Tivoli Cres 140 Unit Apartment Building For Sale Virginia Beach, VA 23453
Investment Highlights
- Best-in-Class Submarket Drives Durable Returns
- Leasing Trends Trailing Top-Of-Market Competitor
- Clear Runway to Drive Rent Growth & Close Rental Gap
- Virginia Beach Submarket Rent Growth & Occupancy Performance
- Recent CapEx Enables High-ROI Value Creation
Executive Summary
Newmark is pleased to present, Tivoli Apartments, a compelling value-add investment opportunity in one of Virginia Beach’s most established and affluent residential corridors. The property is demonstrating strong near-term leasing momentum, with new leases executed over the past 30 days averaging 9.7% above current in-place rents. Despite this recent performance, average rents remain approximately $481 below top-of-market competitors, providing a clear and measurable runway for continued rent growth.
Property Facts
| Sale Type | Investment | Lot Size | 9.23 AC |
| No. Units | 140 | Building Size | 143,560 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1972 |
| Apartment Style | Garden | Parking Ratio | 1.39/1,000 SF |
| Building Class | C | ||
| Zoning | PDH1 | ||
| Sale Type | Investment |
| No. Units | 140 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 9.23 AC |
| Building Size | 143,560 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | PDH1 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Vinyl Flooring
- Window Coverings
Site Amenities
- Clubhouse
- Laundry Facilities
- Property Manager on Site
- Tennis Court
- Package Service
- Storage Space
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 72 | - | 720 |
| 2+1 | 68 | - | 855 |
Property Taxes
| Parcel Number | 1486-81-3238 | Improvements Assessment | $11,848,000 |
| Land Assessment | $3,500,000 | Total Assessment | $15,348,000 |
Property Taxes
Parcel Number
1486-81-3238
Land Assessment
$3,500,000
Improvements Assessment
$11,848,000
Total Assessment
$15,348,000
Contacts
-
Amanda Archer -
Garrison Gore -
Charles Wentworth -
Victoria Pickett -
John Chobanian -
Daniel Wake -
Newmark
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Tivoli Apartments | 1027 Tivoli Cres
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