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The Wythe Apartments 200 Claremont Ave 40 Unit Apartment Building $4,400,000 ($110,000/Unit) 8.25% Cap Rate Hampton, VA 23661
INVESTMENT HIGHLIGHTS
- Award winning renovation completed in 2019
- Low maintenance exterior with brick and aluminum windows
- 100% Occupancy
EXECUTIVE SUMMARY
Modern apartments set within the confines of the historical Wythe Elementary School. Located two blocks from the Chesapeake Bay, this setting offers convenient access to the interstate while living in the friendly and active Wythe neighborhood. These units have high ceilings, lots of natural light. Stainless steel appliances fill the kitchen that include: an ice-maker, self-cleaning oven, washer and dryer and granite counters . Award winning, Mark Turner Construction, completed the renovation and adaptive reuse of the historic Wythe Elementary School in April 2020. The project converted this National Register Art Deco–influenced building c. 1936, into 40 market-rate apartments.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $4,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $110,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.32 AC |
| Cap Rate | 8.25% | Building Size | 38,454 SF |
| No. Units | 40 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1936/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Zoning | R11 | ||
| Price | $4,400,000 |
| Price Per Unit | $110,000 |
| Sale Type | Investment |
| Cap Rate | 8.25% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.32 AC |
| Building Size | 38,454 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1936/2020 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | R11 |
AMENITIES
UNIT AMENITIES
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 40 | - | 787 |
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PROPERTY TAXES
| Parcel Number | 1004553 | Improvements Assessment | $4,599,500 |
| Land Assessment | $600,000 | Total Assessment | $5,199,500 |
PROPERTY TAXES
Parcel Number
1004553
Land Assessment
$600,000
Improvements Assessment
$4,599,500
Total Assessment
$5,199,500
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The Wythe Apartments | 200 Claremont Ave
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