505 Randolph Rd - Apartments FOR SALE


Newport News, VA 23601- Carver
$795,000 USD
412-849-9977
505 Randolph Rd, Newport News, VA for Sale
$795,000 USD
Apartments - FOR SALE
1/16
null | 7.66% Cap Rate

505 Randolph Rd
Newport News, VA 23601
Carver


HIGHLIGHTS

  • 7 Units: A Mix of Two- & Four-Bedroom Units
  • Fully Renovated with Washer & Dryer in Each Unit
  • Operational Value-Add Opportunity
  • TRANSIT ORIENTED Easy access to Hampton Roads Bridge Tunnel, I-64, I-664 & James River Bridge
  • EASY ACCESS TO NUMEROUS EMPLOYMENT CENTERS Within 10 minutes from Newport News/Williamsburg International Airport, Hampton University, and Newport

OVERVIEW

Marcus & Millichap is pleased to present the offering memorandum for Deltha Gardens located at 505-511 Randolph Street in Newport News, Virginia. The property consists of seven units built in 1969. There are a mix of two- and four- bedroom units that are situated on 0.34 acres. Newport News is home to the Newport News Shipbuilding, the largest shipbuilding company in the United States. The shipyard has a long-standing tradition of constructing military and commercial vessels, including aircraft carriers and submarines. The Port of Newport News is also an important deep water port for shipping and trade. In addition the city is host to prominent educational institutions like Christopher Newport University, a public liberal arts university known for its strong academic programs. The city also has various research facilities and technical training centers, contributing to the intellectual and technological advancement of the region.

FOR SALE DETAILS

PRICE

$795,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

7

PRICE/UNIT

$113,571

CAP RATE

7.66%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Deltha Gardens

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

R7

APN/PARCEL ID

266.00-10-24,266.00-10-26

ASK ABOUT THIS PROPERTY

Justin FergusonMarcus & MillichapMore Info
412-849-9977

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Justin FergusonMarcus & MillichapMore Info
412-849-9977

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