Offering Highlights
Transit Oriented
Easy access to Interstate 64 and Interstate 664
• Easy access to Interstate 64 and Interstate 664
Centrally Located; Close to Amenities
• 13 minutes from downtown Hampton • 12 minutes from Coliseum Central & Hampton Roads Convention Center • 4 minutes from Huntington Ingalls Industries/Newport News Shipbuilding • 22 minutes from Langley Air Force Base
Hampton University
Hampton University
• 4,293 Enrolled Students; 39% of students live off campus • Located 16 minutes from St. James Terrace Apartments
Value-Add Opportunity
• Immediate Organic Rent Growth Opportunity
Ideal Demographic For Multifamily Demand
• 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

A 262-Unit Multifamily Oppor tunity in Hampton, VA

The  Uzun  Group  of  Marcus  &  Millichap  is  pleased  to  present  the  offering  memorandum  for  the  Asbury  Place  Apartments  in  Hampton, VA.The  property  consists  of  two  hundred  and  sixty-two  units  (262) units. Asbury Place Apartments has all two-bedroom  &one-bathroom  units  in  thirty-one  (31)  262  880  sf.  two-sto-ry buildings constructed in 1966 and situated on 14.62 acres. The apartments feature hardwood flooring, linoleum flooring and matching appliances.  The property’s central location af-fords residents easy access to Hampton Roads’ top employers. Given  the  property’s  central  location,  value-add  potential,  and  rent  growth  potential,  the  Asbury  Place  Apartments  are  positioned to provide investors strong long-term returns over the hold period. The  Hampton  Roads  economy  is  heavily  diversed  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. Armed  Forces.  Hampton  Roads’  seven  universities  and  three  community  colleges  graduate  +/-  17,000  students  annually,  consistently supplying a highly skilled workforce.

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