28-Unit Park Station Villas Trades for $1.55 Million | Marcus & Millichap

The Uzun Group at Marcus & Millichap has closed the sale of Park Station Villas, a 28-unit multifamily property located at 260 N Commerce Avenue in Waynesboro, VA, that traded hands for $1,550,000, or approximately $55,357 per unit. The transaction adds another multifamily closing to the team's growing track record across Virginia's investment sales market.

At just over $55,000 per unit, Park Station Villas represented an attractive basis for the buyer relative to replacement cost, a dynamic that continues to draw investor attention to workforce and value-oriented multifamily assets across the region. Deals like this one underscore the ongoing appetite among multifamily investors for properties that offer both in-place cash flow and room for long-term upside.

Notably, this marks the second time the Uzun Group has sold Park Station Villas, a reflection of the long-term relationships and repeat business the team has built with owners and investors across the Waynesboro and greater Virginia multifamily markets. Selling the same asset twice speaks to the trust clients place in the team through multiple ownership cycles.

The closing of Park Station Villas reflects the kind of steady deal flow the Uzun Group has built a reputation for in the Virginia multifamily investment market, working with buyers and sellers to move transactions efficiently from listing to close. As demand for multifamily assets in the region remains strong, closings like this one continue to reinforce Virginia as a market where investors are finding real opportunity.

The deal was led by Jack Carroll, alongside team members Altay Uzun, Justin Ferguson, and Myles Lee, who worked together to bring the transaction to a successful close.

Thinking about selling a multifamily property in Virginia? The Uzun Group offers free property valuations for owners looking to understand what today's market could mean for their asset.