New Offering: Large-Scale Value-Add Upside | 102 Units in Virginia Beach

Download Offering Materials: Weblin Place

Capstone Apartment Partners is pleased to present Weblin Place Apartments: a 1974 vintage, 102-unit community located in Virginia Beach, Virginia. Owned and operated by one family since construction in 1974, the asset has been exceptionally well maintained, leaving little to no deferred maintenance for the next owner. This fully amenitized community presents a proven value-add opportunity to build on, with 92 of 102 units ready to receive interior upgrades and raise rents to recently renovated market comps. Conveniently located nearby I-64, Virginia Beach Blvd, and US Route 13, residents enjoy a high level of connectivity to Virginia Beach Town Center, Norfolk, and the ocean front. The Virginia Beach market continues to exhibit incredible rent growth and record demand levels, with rent growing in line with increasing occupancy, creating market support for on-going organic rent growth.

Investment Highlights

47-Year Ownership History—Owned by the Original Developer’s Family
Proven Value-Add Program to Build On
Fully Amenitized Community
Incredible Rent Growth Story in Virginia Beach
Extremely Well-Connected Asset Proximate to Norfolk, VA Beach Town Center, and Ocean Front

 

Property Video | Behind the Scenes Video
One-Bedroom Virtual Tour | Two-Bedroom Virtual Tour | Two Bedroom (Reno) Virtual Tour

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