The Mayfair Apartments

The Mayfair Apartments

Virginia beach, VA
Available
  • Property Type: Apartments
  • Year Built : 1972
  • Property Size: 184,340 SF / 197 Units

Overview

Capstone Apartment Partners is pleased to present Mayfair Apartments: a 1972-vintage, 197-unit, market rate and rent restricted (46 units) apartment community located in Virginia Beach, Virginia. The property features an attractive mix of one-, two-, three-, and four-bedroom floorplans along with minimal deferred maintenance. Current ownership has renovated eight units at the property with a moderate renovation package to prove premiums up to $175. Although significant premiums have been achieved, the Virginia Beach submarket strongly supports a luxury value-add program to achieve premiums up to $325, depending on the floorplan. Mayfair Apartments is located in the heart of the Virginia Beach submarket, with proximity to multiple economic demand drivers, new development, and premium retail. With a robust value-add opportunity and excellent location within a booming submarket, Mayfair Apartments represents an excellent opportunity for investors. 

Investment Highlights

Significant Value-Add Opportunity

Strong Multi-Family Demographics in the Virginia Beach Submarket

Mix of Market Rate and Affordable Units

Situated Amongst Major Employers and New Development

Proximate to Class A Retail and the Hampton Roads Light Rail

Contact Information

Eric Liebich Investment Sales Advisor P: 248.225.3706
O: 800.746.3175 ext. 730
eric@capstone-companies.com
Ron Corrao Director P: 757.749.6994
O: 800.746.3175 ext. 712
ron@capstone-companies.com
Cole Carns Investment Sales Advisor P: 804.878.1258
O: 800.746.3175 ext. 777
ccarns@capstone-companies.com
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