824 Post Ave - Apartments FOR SALE


Chesapeake, VA 23324- South Norfolk
$5,625,000 USD
757-675-5164
824 Post Ave, Chesapeake, VA for Sale
$5,625,000 USD
Apartments - FOR SALE
1/20
null | 6.95% Cap Rate

824 Post Ave
Chesapeake, VA 23324
South Norfolk


HIGHLIGHTS

  • Convenient access to retail

OVERVIEW

Sunnybrook Apartments (824 Post Ave and 2127 Chesapeake Drive, Chesapeake, VA) is a 48-unit multifamily community in the Hampton Roads metro, positioned for cash flow and upside. The property offers an attractive unit mix of forty-four (44) 2BR/1BA and four (4) 1BR/1BA apartments, supporting broad renter demand. Offered at a $5,625,000 list price, buyers may benefit from assumable financing of approximately $3.5M at 5.7% interest (subject to lender approval), helping reduce interest-rate uncertainty and enhance leverage. The Chesapeake location provides convenient access to retail, dining and commuter routes. A compelling value-add story exists through rent optimization, interior upgrades and operational efficiencies as units turn. Ideal for 1031 exchange or portfolio expansion. Contact broker for offering memorandum, rent roll and financials. Tours by appointment only - please do not disturb residents.

FOR SALE DETAILS

PRICE

$5,625,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

48

PRICE/UNIT

$117,188

CAP RATE

6.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunnybrook Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

41,059 SF

ZONING

RMF1

APN/PARCEL ID

1390000001822

ASK ABOUT THIS PROPERTY

Christian PhillipsInlet Realty and Property ManagementMore Info
757-675-5164

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Christian PhillipsInlet Realty and Property ManagementMore Info
757-675-5164

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