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Sunnybrook Apartments 824 Post Ave 48 Unit Apartment Building $5,625,000 ($117,188/Unit) 6.95% Cap Rate Chesapeake, VA 23324
Investment Highlights
- Convenient access to retail
Executive Summary
Sunnybrook Apartments (824 Post Ave and 2127 Chesapeake Drive, Chesapeake, VA) is a 48-unit multifamily community in the Hampton Roads metro, positioned for cash flow and upside. The property offers an attractive unit mix of forty-four (44) 2BR/1BA and four (4) 1BR/1BA apartments, supporting broad renter demand. Offered at a $5,625,000 list price, buyers may benefit from assumable financing of approximately $3.5M at 5.7% interest (subject to lender approval), helping reduce interest-rate uncertainty and enhance leverage. The Chesapeake location provides convenient access to retail, dining and commuter routes. A compelling value-add story exists through rent optimization, interior upgrades and operational efficiencies as units turn. Ideal for 1031 exchange or portfolio expansion. Contact broker for offering memorandum, rent roll and financials. Tours by appointment only - please do not disturb residents.
Property Facts
| Price | $5,625,000 | Apartment Style | Garden |
| Price Per Unit | $117,188 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.94 AC |
| Cap Rate | 6.95% | Building Size | 37,700 SF |
| Gross Rent Multiplier | 8.97 | Average Occupancy | 100% |
| No. Units | 48 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | ||
| Zoning | RMF1 - Residential-Multi Family | ||
| Price | $5,625,000 |
| Price Per Unit | $117,188 |
| Sale Type | Investment |
| Cap Rate | 6.95% |
| Gross Rent Multiplier | 8.97 |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 37,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1970 |
| Zoning | RMF1 - Residential-Multi Family |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 44 | - | - |
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Property Taxes
| Parcel Number | 1390000001822 | Improvements Assessment | $1,586,100 |
| Land Assessment | $290,400 | Total Assessment | $1,876,500 |
Property Taxes
Parcel Number
1390000001822
Land Assessment
$290,400
Improvements Assessment
$1,586,100
Total Assessment
$1,876,500
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Sunnybrook Apartments | 824 Post Ave
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