Exceptional Investment Opportunity: Prime Rental Property in Newport News Discover a Premier Income-Generating Asset in the Heart of Newport News Owner financing available with 25% down payment! Welcome to a rare opportunity to own a distinguished rental property nestled in the vibrant core of Newport News. This well maintained community features 85 diverse Condo/Townhouses within a thriving 213-unit complex, offering a remarkable investment opportunity with outstanding rental potential. PLEAS ENOTE THAT ONLY 85 UNITS ARE FOR SALE, UNITS ARE PART OF 213 UNITS IN TOWNHOUSE/CONDO COMMUNITY Property Highlights: Unit Composition: 61 x 3 Bedroom Units: Spacious and versatile, ideal for families and professionals, 1133 square feet. 13 x 2 Bedroom Units: Perfectly designed for couples and smaller households, 937 square feet 9 x 4 Bedroom Units: Includes generous 16x9 storage units, catering to larger families or those needing extra space, 1308 square feet 2 x 3 Bedroom Units: Expertly converted into functional office and storage spaces. Modern Upgrades and Renovations: Original Construction: 1979 Major Remodel: 2010, featuring new vinyl windows, roofs, vinyl siding, central HVAC units (many uprgraded since), kitchen cabinets, and entry doors. Recent Enhancements: Each unit has been thoughtfully remodeled within the last 5 years, showcasing fresh paint, new carpets, modern vanities, and continued updates including glue-on vinyl plank flooring on the ground level started in 2024. These enhancements not only elevate tenant satisfaction but also boost rental value. Current Rental Income & Trends: 4 Bedroom Units: $1,800 per month 3 Bedroom Units: $1,700 per month 2 Bedroom Units: $1,450 per month Average Rent (August 2024): $1,571 per unit, with a steady increase as existing leases are renewed at higher rates. Security and Demand: Security Deposit: Each lease includes a $2,000 security deposit, providing a robust safety net against damages and unpaid rents. High Demand: Rental properties in Newport News are in exceptionally high demand, with units often leased before renovations are completed. This trend ensures consistent occupancy and robust rental income. Investment Potential: This property offers not only a lucrative income stream but also a stable investment in a rapidly appreciating market. With its prime location, modern amenities, and increasing rental rates, this property promises strong returns and long-term growth. Act Now! Don’t miss your chance to invest in this exceptional rental property in Newport News. For more information and to schedule a viewing, contact us today and seize this outstanding investment opportunity! Contact Information: Marcin, (757) 753-6821, Owner