Harvard Apartments | Justin Ferguson

Closed

Harvard Apartments

Price

$14,000,000

Units

140

Address

Chesapeake, VA

Contact MeLearn More About This Property

Offering Highlights

Transit Oriented
TRANSIT ORIENTED 64 464 264 DT
• Easy Access to I-64, I 464, I-264 and Downtown Tunnel 

Value-Add Opportunity
VALUE ADD OPPORTUNITY - Organic Rent & Interior Upgrade
• Immediate Organic Rent Growth Opportunity • Prime Candidate for Interior Upgrade Initiative

Old Dominion University
OLD DOMINION
• 24,932 Students, 3,000+ Employees; 5th Largest University in VA

Tidewater Community College
TIDEWATER COMMUNITY COLLEGE
• 20,941 Students earning degrees in 21 different fields

Ideal Demographic For Multifamily Demand
IDEAL DEMOGRAPHIC FOR MULTIFAMILY 
• High Affordability Gap Increased the Rent-by-Necessity Demographic Combined with a Strong 20-34 Age Renter Cohort from the Abundant Military Presence and Numerous Higher Educational Institutions

The Offering

Marcus & Millichap is pleased to present the Offering Memorandum forHarvard Apartments located inChesapeake, VA.The property consists of one hundred forty(140) two-bedroom one-bathroom units.The property was built in 1968 and is situated on 10.10 acres. The property’s central location affords residents easy access to Hampton Roads’ top employers.The Hampton Roads economy is heavily diverse home to the fastest growing port on the East Coast, two Fortune 500 companies, low business costs, global access, and a robust talent pipeline. Hampton Roads is well known for its ports, shipyards, maritime related industries, aerospace, food and beverage processing, and is home to every branch of the U.S. ArmedForces. Hampton Roads seven universities and three community colleges graduate+/- 17,000 students annually, consistently supplying a highly skilled workforce.