1907 Cypress Ave - Apartments FOR SALE


Virginia Beach, VA 23451- Northeast Virginia Beach
$5,600,000 USD
757-703-3367
1907 Cypress Ave, Virginia Beach, VA for Sale
$5,600,000 USD
Apartments - FOR SALE
1/20
null | 6.5% Cap Rate

1907 Cypress Ave
Virginia Beach, VA 23451
Northeast Virginia Beach


OVERVIEW

Swell House Collective | 8 Luxury Condos 1907 Cypress Avenue, Virginia Beach, VA 23451 Portfolio Price: $5,600,000 | $700,000 Per Unit Swell House Collective presents a unique opportunity to acquire eight luxury, townhome-style condominiums in Virginia Beach's ViBe Creative District, just blocks from the Virginia Beach Oceanfront. Each three-story residence features three bedrooms, three and a half bathrooms, a private one-car garage, and a private rooftop deck. All eight residences have been approved for short-term rental use by the City of Virginia Beach, offering investment potential for both short-term and long-term rental strategies. The property is ideally positioned near some of Virginia Beach's largest tourism, entertainment, and event destinations, including the beach and Oceanfront, the new $350 million Atlantic Park mixed-use development and Wavegarden surf lagoon, the Virginia Beach Convention Center, and the Virginia Beach Sports Center. The surrounding ViBe Creative District offers restaurants, breweries, art studios, shops, farmers markets, concerts, festivals, and other community events. Property Highlights: Eight luxury townhome-style condominiums Three bedrooms and 3.5 bathrooms per residence Private one-car garage and rooftop deck Approved for short-term rental use Walking distance to the beach and Virginia Beach Oceanfront Near Atlantic Park and the Wavegarden surf lagoon Near the Virginia Beach Convention Center and Sports Center Located in the ViBe Creative District Available as a complete portfolio, individual units, or any combination of units The eight residences are offered as a complete portfolio for $5,600,000, individually at $700,000 per unit, or in any combination of units, providing flexibility for investors and qualifying 1031 exchange buyers. Additional Investment Opportunity: The development also includes approximately 1,100 square feet of ground-floor commercial space with two STR-approved apartments above, separate from the eight-unit condominium portfolio. Buyers interested in purchasing the commercial space and two apartments are encouraged to call for additional information, pricing, and availability.

FOR SALE DETAILS

PRICE

$5,600,000 USD

PRICE/SF

$333 USD /SF

# OF UNITS

8

PRICE/UNIT

$700,000

CAP RATE

6.5%

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Swell House Collective | 8 Luxury Condos

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2027

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,042 SF

ZONING

OR

APN/PARCEL ID

2417-97-0315

ASK ABOUT THIS PROPERTY

Danielle EvansBishard HomesMore Info
757-703-3367

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Danielle EvansBishard HomesMore Info
757-703-3367

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