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Listed by Michael Porterfield • Tartan Properties, Inc.
$1,580,000
Est. payment /mo
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID VAPW2110964
Style Other
Year Built 1945
Annual Tax Amount $4,257
Tax Year 2025
Lot Dimensions 0.00 x 0.00
Property Sub-Type Other
Source BRIGHT
Property Description
Harbor View Apartments is a 16-unit multifamily asset consisting of two eight-unit buildings, ideally located steps from Marine Corps Base Quantico—one of the most stable rental demand drivers in the region. The property totals approximately 8,000 SF, offering investors predictable cash flow supported by military/government tenancy, consistent occupancy, and measurable expense efficiency.
Operations are streamlined with tenant-paid electric and gas while ownership covers water, minimizing utility exposure and improving expense control. Ownership has also made ongoing system upgrades including multiple HVAC replacements, furnace and water heater installations, and interior turnover improvements, supporting reduced near-term capex needs and smoother asset management for the next owner.
With an in-place NOI of ±$102,811, Harbor View provides a strong entry yield at the asking basis, with runway for value creation through unit modernization and incremental rent growth. This acquisition presents an opportunity to step into a well-maintained, cash-flowing asset in a supply-constrained market with sticky tenant demand and minimal new rental product delivery in the immediate area.
Operations are streamlined with tenant-paid electric and gas while ownership covers water, minimizing utility exposure and improving expense control. Ownership has also made ongoing system upgrades including multiple HVAC replacements, furnace and water heater installations, and interior turnover improvements, supporting reduced near-term capex needs and smoother asset management for the next owner.
With an in-place NOI of ±$102,811, Harbor View provides a strong entry yield at the asking basis, with runway for value creation through unit modernization and incremental rent growth. This acquisition presents an opportunity to step into a well-maintained, cash-flowing asset in a supply-constrained market with sticky tenant demand and minimal new rental product delivery in the immediate area.
Location
State VA
County Prince William
Zoning T1
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Fireplace N
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Septic
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Prince William County Public Schools
Others
Tax ID 8287-86-9621
Ownership Other
Special Listing Condition Standard
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