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Deltha Gardens 505 Randolph Rd 7 Unit Apartment Building $795,000 ($113,571/Unit) 7.66% Cap Rate Newport News, VA 23601
INVESTMENT HIGHLIGHTS
- 7 Units: A Mix of Two- & Four-Bedroom Units
- Operational Value-Add Opportunity
- EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS Within 10 minutes from Newport News/Williamsburg International Airport, Hampton University, and Newport
- Fully Renovated with Washer & Dryer in Each Unit
- TRANSIT ORIENTED Easy access to Hampton Roads Bridge Tunnel, I-64, I-664 & James River Bridge
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the offering memorandum for Deltha Gardens located at 505-511 Randolph Street in Newport News, Virginia.
The property consists of seven units built in 1969. There are a mix of two- and four- bedroom units that are situated on 0.34 acres.
Newport News is home to the Newport News Shipbuilding, the largest shipbuilding company in the United States. The shipyard has a long-standing tradition of constructing military and commercial vessels, including aircraft carriers and submarines. The Port of Newport News is also an important deep water port for shipping and trade. In addition the city is host to prominent educational institutions like Christopher Newport University, a public liberal arts university known for its strong academic programs. The city also has various research
facilities and technical training centers, contributing to the intellectual and technological advancement of the region.
The property consists of seven units built in 1969. There are a mix of two- and four- bedroom units that are situated on 0.34 acres.
Newport News is home to the Newport News Shipbuilding, the largest shipbuilding company in the United States. The shipyard has a long-standing tradition of constructing military and commercial vessels, including aircraft carriers and submarines. The Port of Newport News is also an important deep water port for shipping and trade. In addition the city is host to prominent educational institutions like Christopher Newport University, a public liberal arts university known for its strong academic programs. The city also has various research
facilities and technical training centers, contributing to the intellectual and technological advancement of the region.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $795,000 | Property Subtype | Apartment |
| Price Per Unit | $113,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 7.66% | Building Size | 5,600 SF |
| Gross Rent Multiplier | 8.57 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1969 |
| Property Type | Multifamily | ||
| Zoning | R7 | ||
| Price | $795,000 |
| Price Per Unit | $113,571 |
| Sale Type | Investment |
| Cap Rate | 7.66% |
| Gross Rent Multiplier | 8.57 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 5,600 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Zoning | R7 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $354,100 | |
| Land Assessment | $97,000 | Total Assessment | $451,100 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$97,000
Improvements Assessment
$354,100
Total Assessment
$451,100
CONTACTS
-
Justin Ferguson -
Altay Uzun -
Jack Carroll -
Myles Lee -
Tracey Mori -
Marcus & Millichap
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Deltha Gardens | 505 Randolph Rd
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