30 Kings Way
Hampton, VA 23669
King's Way · Multifamily Property For Sale · 22 Units

Marcus and Millichap is pleased to present the Offering Memorandum for Kings Way Apartments, located at 30 Kings Way in Hampton, VA. The property consists of (19) One Bedroom, One Bath Units, (2) Two Bedroom, One Bath Units, and (1) Studio Unit . Built in 1938 and elegantly renovated in 2009, the subject property sits on .27 acres. The property is the former City Hall Building for Hampton Virginia. The water and sewage costs are included in the rent, with the electricity being paid separately by the tenant. Through improving occupancy and increasing rents, a prospective buyer has the opportunity to significantly improve the value of this asset. The city of Hampton is experiencing more rapid growth than any other city in the Hampton Roads area. Professionals are flocking to this area due to its quiet living areas coupled with excellent nightlife, providing residents with the ability to rest for work days and have fun on weekends without having to travel far from home. This property is situated in a centralized location of Hampton, VA. The property is in Downtown Hampton, a popular attraction in the area. Tenants also have quick access to public transportation, I-64 (1.1 Miles) and The Virginia Air and Space Center. As of 2015, Hampton had a population of approximately 136,454 residents, making it Virginia's seventh largest city. Hampton is in Virginia's largest MSA, Hampton Roads, home to approximately 1,725,777 residents, which demonstrates a growth of 10,259 residents or 0.6% from the previous year. Hampton is economically stable, home to employers including Alcoa Howmet, Cubic Applications, Inc., Hampton University, Sentara Careplex, NASA' s Langley Research Center and TRG Customer Solutions.