Sunnybrook Apartments

48 Unit Apartment Building | $6,250,000 ($130,208/Unit) | 6.98% Cap Rate | Chesapeake, VA 23324

Asking Price $6,250,000

Property Type: Multifamily
Square Feet: 37,700 SF

Listing Contacts

Christian Phillips

Verified Profile

Property Info

Property Overview

Sunnybrook Apartments is a 48 unit complex consisting of 7 buildings. 44 two bed/one bath, and 4 one bed/one bath garden style apartments with washers and dryers in all but one building. Numerous improvements within the last 18 months, including kitchen and bathroom updates, LVP flooring throughout, and extensive exterior brick and landscaping updating. Lovely, open common areas provide a homey, community back yard feeling. Extensive parking can easily accommodate 100% occupancy. Tenants pay all utilities other than trash removal. Rental prices have increased over 21% in the past 12 months and Sunnybrook currently holds 99% occupancy. Location is prime! Just minutes away from shipyard, schools, retail, and even a quaint neighborhood park with a lake. This established project will not disappoint!

Property Details

Class: C
Year Built: 1966
Stories: 2
Lot Size (sq. ft): 91,476 SF
Units: 48

Highlights

Remodeled units in past two years
Low maintenance costs
Strong ROI potential

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