2 Colonial Place 5 Multifamily Properties Offered at $750,000 in Newport News, VA

This portfolio contains five individual properties. The properties are in mixed use zones, but have been occupied for residential use for many years. The portfolio is being sold below appraised value, and is being sold “as is, where is”. An information package can be obtained once a Confidentiality Agreement has been signed. This property is best for an investor that has the ability to secure the property with cash, and has knowledge and skills in construction, or access to construction assistance, as the Value Add component of the investment is improving the property. The location is excellent, and with improvements this portfolio can perform well for resale, and/or to retain for rental income. Contingencies for financing and/or bank appraisals will not be accepted. Owner financing is not available. The properties are tenant occupied, and the tenants are not to be disturbed. Access can be negotiated with Letter of Intent or Purchase Sale Agreement.