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2708 Reef Court
Virginia Beach, VA 23451
Asking Price
Contact for price
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
<p><strong style="color: rgba(33, 37, 41, 1)">THE OFFERING</strong></p><p><span style="color: rgba(33, 37, 41, 1)">Twenty-one luxury apartment units, zoned and permitted for short-term rental use, located one-block from Virginia Beach’s oceanfront. The property, built in 1970 consists of 20 two-bedroom units and one one-bedroom units, and features a distinct Mediterranean aesthetic well-suited for it’s beachside location. All 21 units have been extensively renovated with best-class finishes and
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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547