600 74th St - Apartments FOR SALE


Newport News, VA 23605- Briarfield
$1,600,000 USD
757-782-5423
600 74th St, Newport News, VA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/9
null | 6.3% Cap Rate

600 74th St
Newport News, VA 23605
Briarfield


HIGHLIGHTS

  • 10 units with new kitchens & bathrooms
  • Brand new HVAC in all 12 units (2025)
  • 5 units with new water heaters
  • 6 units with new carpet
  • Freshly painted stairs & walkways (2024)
  • On-site security system

OVERVIEW

This updated 12-unit multifamily property offers a rare combination of immediate income, extensive recent upgrades, and long-term value. With a strong rental history and five stable Section 8 tenants, investors can enjoy consistent returns from day one. This property offers an excellent blend of stable income and minimal future capital expenditure needs thanks to comprehensive recent improvements. The strong in-place cash flow, plus potential to further increase rents or fully lease remaining units, makes this a standout opportunity in today’s market.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$178 USD /SF

# OF UNITS

12

PRICE/UNIT

$133,333

CAP RATE

6.3%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New Market Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

13

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C2 / R4

APN/PARCEL ID

279.00-02-14

ASK ABOUT THIS PROPERTY

Baylee WangHarvey Lindsay Commercial Real EstateMore Info
757-782-5423

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Baylee WangHarvey Lindsay Commercial Real EstateMore Info
757-782-5423

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