Newport News Multifamily Investment
10710 Jefferson Ave, Newport News, VA 23601
For Sale
Contact for pricing
Seventeen-unit portfolio in Newport News, Virginia.
Property Size11,050 SF
Lot Size0.32 Acres
Price / SF$140.27
Days on Market251
Property Features for 10710 Jefferson Ave
General Information
Standard status
Size
Class
Lot size
Property subtype
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Buildings
Stories
Units
Listing Agency:
Marcus & Millichap - Hampton Roads
Listed By:
Altay Uzun · License VA #0225214405
(202) 536-3719
Source:
Crexi
Added: Mar 9
Changed: Aug 8
Last Checked: Aug 8 at 6:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Hampton Roads
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Investment Insights
Based on property information with market context.
The portfolio located at 10710 & 10714 Jefferson Avenue and 500 Powellville Lane in Newport News, VA 23061, consists of seventeen units. The unit mix includes two studio units, thirteen one-bedroom and one-bathroom units, and two two-bedroom and one-bathroom units. The building at 10710 Jefferson Avenue was constructed in 1960 and is situated on a 0.32-acre lot. The total property size is 11050 square feet.
Key Highlights
- Portfolio consists of seventeen units total.
- Mix of unit types: studio, one‑bedroom, and two‑bedroom units.
- Located at 10710 & 10714 Jefferson Avenue and 500 Powellville Lane, Newport News, VA 23061.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,716
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,274,320
$2.3M
Cap Rate 7%
$1,624,514
$1.6M
Cap Rate 9%
$1,263,511
$1.3M
Market Conditions
NOI Build-Up for 11,050 SF
Gross rent
$218.8K $19.80/SF
− Vacancy
−$12.0K −$1.09/SF
EGI
$206.8K $18.71/SF
− OpEx
−$93.0K −$8.42/SF
NOI
$113.7K $10.29/SF
Area
Newport News, VA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,274,320
Cap Rate 7%
$1,624,514
Cap Rate 9%
$1,263,511
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.90M
NOI $113,716 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,275 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
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Business Placement
Demographics for 23601, VA
25,729
Population
12,593
Households
2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,477
Density / Sq Mi
$71,345
Median Household Income
$48,310
Median Earnings
$1,231
Median Rent
$235,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Seventeen-unit portfolio in Newport News, Virginia.
Where is this apartment building located?
The property is located at 10710 Jefferson Ave Newport News, VA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Portfolio consists of seventeen units total.; Mix of unit types: studio, one‑bedroom, and two‑bedroom units.; Located at 10710 & 10714 Jefferson Avenue and 500 Powellville Lane, Newport News, VA 23061.
