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Investment Highlights
Average in-place rents of $1,265 per unit ($1.45 PSF)
Over $2.6M invested to date across the two properties ($1.4M at Crossroads Landing, $1.3M at Crossroads Landing East)
95 of 144 units have completed the interior renovation program ($15,500 per unit, $200 monthly rent premium); 49 units remain
In-place NOI of $966K, projected to reach $1.22M in Year One
Pro forma rent growth of 4.5%, though current market comparables suggest $150–$200 of additional upside per unit
Property Details
Property Name
Units
Status
Year Built
Crossroads Landing Portfolio
144
For Sale
1964
Property Location
7922 Old Ocean View Rd, Norfolk, VA 23518, USA
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