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Brittany Place 6139 Edward St 148 Unit Apartment Building For Sale Norfolk, VA 23513
Investment Highlights
- Close Rent Gap to Top Competitors
- Strong Historical Operating Performance
- Northern Norfolk: Top Performing Submarket in Hampton Roads
- Proven Renovation Premiums
- Proximity to Major Demand Drivers
Executive Summary
Newmark is pleased to present, Brittany Place Apartments, a unique opportunity to acquire a well-performing multifamily community in Norfolk, Virginia with demonstrated renovation upside and strong recent operating performance. The property has maintained 98% average occupancy over the trailing twelve months, reflecting the asset’s competitive position within the market.
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 5.44 AC |
| No. Units | 148 | Building Size | 162,615 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1985 |
| Building Class | C | Parking Ratio | 1.37/1,000 SF |
| Zoning | R-13 | ||
| Sale Type | Investment |
| No. Units | 148 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.44 AC |
| Building Size | 162,615 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1985 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | R-13 |
Amenities
Unit Amenities
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 148 | - | 950 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 14345050 | Improvements Assessment | $18,710,800 |
| Land Assessment | $2,025,600 | Total Assessment | $20,736,400 |
Property Taxes
Parcel Number
14345050
Land Assessment
$2,025,600
Improvements Assessment
$18,710,800
Total Assessment
$20,736,400
Contacts
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Garrison Gore -
Victoria Pickett -
Charles Wentworth -
Daniel Wake -
Amanda Archer -
Newmark
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