2127-2129 Chesapeake Dr - Apartments FOR SALE


Chesapeake, VA 23324- South Norfolk
$5,900,000 USD
757-276-3330
2127-2129 Chesapeake Dr, Chesapeake, VA for Sale
$5,900,000 USD
Apartments - FOR SALE
1/12
null | 7.39% Cap Rate

2127-2129 Chesapeake Dr
Chesapeake, VA 23324
South Norfolk


HIGHLIGHTS

  • Remodeled units in past two years
  • Low maintenance costs
  • Strong ROI potential

OVERVIEW

Sunnybrook Apartments is a 48 unit complex consisting of 7 buildings. 44 two bed/one bath, and 4 one bed/one bath garden style apartments with washers and dryers in all but one building. Numerous improvements within the last 18 months, including kitchen and bathroom updates, LVP flooring throughout, and extensive exterior brick and landscaping updating. Lovely, open common areas provide a homey, community back yard feeling. Extensive parking can easily accommodate 100% occupancy. Tenants pay all utilities other than trash removal. Rental prices have increased over 21% in the past 12 months and Sunnybrook currently holds 99% occupancy. Location is prime! Just minutes away from shipyard, schools, retail, and even a quaint neighborhood park with a lake. This established project will not disappoint!

FOR SALE DETAILS

PRICE

$5,900,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

48

PRICE/UNIT

$122,917

CAP RATE

7.39%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunnybrook Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.1 AC

LAND SF

91,476 SF

ZONING

RMF-1

APN/PARCEL ID

1390000001900,1390000001901

ASK ABOUT THIS PROPERTY

Christian PhillipsInlet Realty and Property ManagementMore Info
757-276-3330

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Christian PhillipsInlet Realty and Property ManagementMore Info
757-276-3330

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.