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Multifamily

Blue Ridge Apartments

Winchester, VA

194 Units

Built in 1989

Value Add

Investment Highlights

  • STRONG LEASE TRADE OUTS - Lease-over-Lease trade outs have averaged 6.4% year-to-date. Trade outs, organic rent growth and value-add upside provide levers to drive NOI growth
  • BURGEONING WINCHESTER APARTMENT MARKET - The Winchester apartment market has demonstrated 6.5% compounded annual rent growth over the past three years. Vacancy at Blue Ridge is 3%
  • PROVEN VALUE-ADD OPPORTUNITY - Premiums for moderately renovated units range from $150 to $250 for flat-style apartments & townhomes respectively

Exclusively listed by

  • Robert G. Dean

    Senior Managing Director Investments

    Washington, D.C., MD

    (202) 536-3772

    rdean@ipausa.com

    Washington, D.C., MD

    License(s): DC: SP98377025, VA: 0225262193

  • Jonathan Greenberg

    Senior Managing Director Investments

    Washington, D.C., MD

    (202) 536-3771

    jgreenberg@ipausa.com

    Washington, D.C., MD

    License(s): DC: SP102482

Broker of Record

Brian Hosey

Senior Managing Director, Market Leader

(202) 536-3700

License(s): VA: 0225247494

Virginia

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