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.