Under Construction

226 Oceana

Virginia Beach, VA
213
Units
Vintage:
1988
N/A
Type:
Conventional

Investment Overview

Project Overview

226 Oceana was acquired on November 17, 2016. The 213-unit apartment community is located in Virginia Beach, VA, conveniently located near the I-264. The property was purchased with the intent of seizing value-add opportunities ranging from common area capital improvements, exterior siding repairs, lighting enhancements, tree trimming, asphalt and sealcoating, clubhouse renovations, and rebranding with a new sign package.

Property Highlights

The property consists of 20, two-story apartment structures with amenities such as a fully equipped fitness center, outdoor kitchen, clubhouse, dog park, swimming pool and playground. The property consists of one-, two-, and three- bedroom apartments. Apartment homes feature renovated interiors, patios and balconies, double stainless sinks, washer/dryer sets, spacious walk-in closets, and upgraded vinyl and carpet.

The property’s location is idyllically nine blocks from both the Atlantic Ocean and Virginia Beach Boardwalk. It also provides easy access to major freeways, public transportation and many nearby restaurants and shops. The complex is less than a ten minutes’ drive from the Hilltop Shopping Center, Virginia Beach Conference Center, Regent University, Oceana Naval Air Station, Virginia Museum of Contemporary Art, and Aeropines Golf Club. Virginia Beach is the largest city in the state and known as a premier tourist location and key port city, that attracts visitors year-round. Its economy is sustained prominently by the offshore wind industry, defense spending, agriculture, and tourism. Major employers in area include the United States Army, Dollar Tree, Hilton, DXC Technology, General Dynamics and SGS.

Amenities:

  • Dog Park
  • Outdoor Kitchen
  • Playground
  • 24-Hour Fitness Center
  • Sparkling Swimming Pool
  • Laundry Center
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