Winchester-Smithfield Apartments 600-612 Smithfield Ave 16 Unit Apartment Building $2,490,000 ($155,625/Unit) 7% Cap Rate Winchester, VA 22601

OakCrest Commercial Real Estate proudly presents a fully occupied 16-unit multifamily investment opportunity at 600 Smithfield Avenue, located in the heart of Winchester, Virginia. This well-maintained property features a diverse unit mix of twelve 2-bedroom apartments, three 1-bedroom units, and one efficiency, catering to a broad tenant base. Positioned directly across from a community park, the location offers tenants walkable access to green space and neighborhood amenities, enhancing long-term retention.
The property sits on a half-acre parcel zoned HR, with a total site area of approximately 33,606 square feet. Ample off-street parking supports tenant convenience, and many units have received varying degrees of interior upgrades. With a 7% CAP rate and 100% occupancy, this asset offers immediate cash flow and stable performance. Winchester’s Economic Development Authority actively supports business and investment through financial incentives and strategic guidance, making this an ideal market for long-term growth.
Winchester is a dynamic city recognized by Forbes and Kiplinger as one of the best small places for business and retirement. Located just 50 minutes from Dulles Airport and 75 miles from Washington, D.C., the area benefits from proximity to major transportation corridors, a skilled labor pool of over 200,000 within a 30-mile radius, and access to the Virginia Inland Port and regional rail. The city is home to Valley Health Systems and Shenandoah University, contributing to a vibrant and educated community.