207 12th Street

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Address: 207 12th St, Virginia Beach, VA 23451, USA

Washington DC + 2-4 Units

Created date: May 13, 2024

Date last updated: August 13, 2024

EASE OF OPERATIONS
The Property is currently being managed by a local property management firm specializing in the short-term market. The property manager is available to continue managing the asset for new ownership. This provides new ownership with a seamless and uninterrupted transition into operations.
IRREPLACEABLE LOCATION
The Property is in Virginia Beach’s thriving Vibe Creative District and one block from the oceanfront, locking new ownership into a highly sought after vacation destination with long-term durability due to its location. This presents new ownership with an opportunity to capitalize on a high-performing asset in an irreplaceable location.
PRIME SHORT-TERM RENTAL SUB-MARKET
Virginia Beach was recently named a top 10 sub-market for short-term rental assets, measured by owner’s profitability. The Property is 5 blocks from one of the largest tourism developments in Virginia Beach’s history, Atlantic Park. The development, which is set to open Spring 2025, consists of a 3,500-seat entertainment venue, parking garage and wave park. New ownership can capitalize on increasing demand driven by Virginia Beach’s continued commitment to becoming a top tourist destination in the Mid-Atlantic.

Property Description

THE OFFERING A luxury 4-unit short-term rental investment opportunity located one block from Virginia Beach’s oceanfront. The asset is comprised of a 2-bedroom, 1-bathroom flat, and three 3-bedroom, 1-bathroom flats, all equipped with in-unit washers and dryers. Originally constructed in 1920, the building benefits from grandfathered status for short-term rentals, eliminating the need for extra permits or retrofits. Both the building’s exterior and each unit’s interior have undergone thorough renovations, with recent updates extending to the common areas as well.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	2-4 Units
No. of Units:	4
Year Built:	1920
Opportunity Zone:	No
Property Website	Click Here