313 – 319 2nd Ave, Quantico VA 22134
- 16-Unit Multifamily Asset | ±8,000 SF
- Attractive Basis & Yield: Priced $1.58M → $197.50/SF | 6.5% Cap Rate
- NOI: $102,811 (2025) | $75,842 (TTM) - reflects 2026 capital catch-up see breakdown on Page 4
- LIHTC Compliance Period Concludes December 2027 - Clears Path to Market Rents
- ±$31,460 in Capital Reinvestment (Trailing 12 Mo.): Furnace, AC/HVAC & Unit Turnovers - see breakdown on Page 4
- 9 of 16 HVAC Units Replaced Within Past 3 Years — Reduced Near - Term Capex Exposure
- Walkable to VRE, Retail, Dining, and Base Access
- Tenant-Paid Electric & Gas | Water Included in Rent
- Stable Occupancy Supported by Quantico Marine Base Workforce
- Seller Will Offer Credit for New Roof at Closing
Property Description
Harbor View Apartments is a well-maintained 16-unit multifamily community comprised of two eight-unit buildings totaling approximately 8,000 square feet. Ideally located just minutes from Marine Corps Base Quantico, the property benefits from one of the region's strongest and most stable demand drivers, providing consistent occupancy and generating a 2025 Net Operating Income (NOI) of approximately $102,811. The asset offers an efficient operating structure, with tenants responsible for electric and gas utilities while ownership covers water, helping to minimize operating expenses. Ownership has also completed numerous capital improvements, including HVAC replacements, new furnaces and water heaters, and interior unit upgrades during tenant turnover, positioning the property with limited near-term capital expenditure requirements. Harbor View Apartments presents investors with a compelling combination of stable in-place cash flow and long-term value creation. The property is in the final phase of its Low-Income Housing Tax Credit (LIHTC) affordability period, with the mandatory extended-use compliance period expiring in December 2027. Upon expiration, the asset is expected to transition to unrestricted market-rate rents, creating a clear path for future revenue growth in a supply-constrained market with limited new multifamily development.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,580,000 |
| No. of Units: | 16 |
| Year Built: | 1945 |
| Lot Size: | 0.06 Acres |
| Opportunity Zone: | No |
| Price per unit: | $98,750 |
| Property Website | Click Here |
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