Oceanside Tower presents a significant value-add opportunity for investors seeking to reposition a high-rise multifamily asset in a prime waterfront location. Currently 100% vacant, the property is being offered in "as is, where is" condition following a city issued condemnation related to an electrical system fire fire. The asset is well-located along the James River, near major employment centers and redevelopment initiatives. Given the strong multifamily demand in the region and constrained supply pipeline, Oceanside Tower offers a clear path to stabilization and long-term value creation following remediation and lease-up. In 2020, ownership purportedly invested approximately $3 million into capital improvements throughout the property. Upgrades included modernizing a significant number of unit interiors with new flooring, cabinetry, fixtures, and appliances. Common areas and corridors were refreshed, and enhancements were made to elevators, building access controls, and select plumbing and mechanical systems.