St. James Terrace Aparments

Closed

Price

$7,100,000

Units

100

Address

80 30th St K1 Newport News, VA 23607

Contact MeLearn More About This Property

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
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
VALUE ADD OPPORTUNITY - 
• Immediate Organic Rent Growth Opportunity

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 for St. James Terrace Apartments in Newport News, VA.The property consists of one-hundred units built in 1916 and situated on +/- 1.39 acres. St. James Terrace Apartments has eighty-one, one-bedroom and one-bathroom units, ten, two-bedroom and one-bath-room units, six, three-bedroom and one-bathroom units, two, single family homes and one office space across twenty-two buildings.The Hampton Roads economy is heavily diverse home to the fastest growing port on the East Coast, fourFortune 500 companies, low business costs, global ac-cess, 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.