Colonial Landing Apartments

Colonial Landing Apartments

Hampton, VA
Available
  • Property Type: Apartments
  • Year Built : 1938
  • Property Size: 70,700 SF / 92 Units

Overview

Capstone Apartment Partners is pleased to present Colonial Landing Apartments, a 1938 vintage, 92-unit garden-style apartment community located in Hampton, Virginia. Colonial Landing features an attractive mix of one-, two-, and three-bedroom floorplans and is being offered at a significant discount to recent market trades, making Colonial Landing an ideal investment opportunity to establish a foothold in the Hampton Roads MSA. Current ownership purchased the asset with the intent to implement a full-scale value-add program but due to COVID, was unable to and is now offering the property at a steep discount to other similar properties in the market. With a fresh value-add program implemented by new ownership, Colonial Landing is poised to achieve premiums up to $250+ and positioned for significant NOI growth for years to come. Additionally, the property is centrally located amongst major hospital systems, universities, and Class A retail, making the property highly attractive to new and prospective tenants.

Investment Highlights

  • Distressed Asset Priced Significantly Below Local Sale Comps
  • Full-Scale Value-Add Opportunity
  • Situated Amongst Major Employers
  • Suburban Setting With Proximity to Major Retail and Amenities

Contact Information

Ron Corrao Managing Director P: 757.749.6994
O: 800.746.3175 ext. 712
ron@capstone-companies.com
Eric Liebich Director P: 248.225.3706
O: 800.746.3175 ext. 730
eric@capstone-companies.com
Matt Weinstein Investment Sales Advisor P: 703.987.0236
O: 800.746.3175 ext. 732
w.matt@capstone-companies.com
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