|Number of units||444|
JLL is pleased to present for sale Ravens Crest Apartments (the “Property”), a 444-unit multifamily community located at 8098 Ravens Crest Court in Manassas, VA. Strategically positioned in the heart of the Manassas submarket, the Property is surrounded by an abundance of attractive retail destinations and over 5.1 million square feet of space with in a five mile radius. Regional transportation arteries, Route 234 and I-66 are within a mile of the Property and provides connectivity to the booming and affluent Northern Virginia commercial landscape. Ravens Crest Apartments has immense value-add upside potential through unit renovations in a submarket with strong historical performance and limited supply pipeline. The Property is poised for continued rent growth and strong risk adjusted returns.
Outstanding Access to Employers and Significant Employment Growth Attractive in Northern Virginia
Premier Value-Add Opportunity – Attractive Upside of +$120 Premiums in Rents
4.5 MM SF of Retail Within 2 Miles of the Property – Walmart, Giant, Costco
No Future Supply – No Pipeline within a 4-Mile Radius of the Property
Best-in-Class Area Demographics – Wealthy, Millennial, Renter-by- Choice Population