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Jefferson Flats 11112 Mintwood Pl 103 Unit Apartment Building For Sale Newport News, VA 23601
Investment Highlights
- Newport News Submarket Positioned for Above-Market Growth
- Ability to Close the Gap to Top-of-Market Competitors
- Recent CapEx Enables High-ROI Value Creation
- Well-Positioned For A Light Value-Add Strategy
Executive Summary
Newmark is pleased to present, Jefferson Flats a well-located multifamily community in Newport News, Virginia, positioned within one of the Peninsula’s most established employment and retail corridors. The property benefits from immediate proximity to the region’s largest and most durable demand drivers, including Huntington Ingalls Industries, Christopher Newport University, Riverside Health System, and City Center at Oyster Point.
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 3.30 AC |
| No. Units | 103 | Building Size | 103,830 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1971 |
| Building Class | C | ||
| Zoning | R7 | ||
| Sale Type | Investment |
| No. Units | 103 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.30 AC |
| Building Size | 103,830 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1971 |
| Zoning | R7 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
- Playground
- Property Manager on Site
- Maintenance on site
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 101 | - | 850 |
| 3+1 | 2 | - | 875 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 240.00-07-18 | Improvements Assessment | $9,307,000 |
| Land Assessment | $1,560,000 | Total Assessment | $10,867,000 |
Property Taxes
Parcel Number
240.00-07-18
Land Assessment
$1,560,000
Improvements Assessment
$9,307,000
Total Assessment
$10,867,000
Contacts
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Garrison Gore -
Victoria Pickett -
Charles Wentworth -
Daniel Wake -
Amanda Archer -
Newmark
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