The Kemper Street Portfolio currently boasts 104 multifamily units and 20 retail units. There is a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments. Kemper Street Portfolio has approximately 80,250 square feet of commercial space situated on 4.68 acres in the Diamond Hill Historic District. This assemblage qualifies for federal and state historic tax credits for development and a city tax abatement program. A buyer has a significant opportunity to develop additional units out of at least 80,250 square feet of commercial space. Many of the existing units are extremely large, up to 2,500 square feet, and provide the opportunity to divide into multiple units. Both adjacent properties have utilized historic tax credits to develop and operate a successful multifamily asset.
Justin Ferguson is a Multifamily Specialist in Marcus & Millichap's Southern Virginia Office. He prides himself in helping corporate professionals, private investors, REITS, developers, and syndicators strategize and maximize their returns to grow their portfolios at faster, more efficient rates.