611 Michigan Dr, Hampton, VA 23669

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THE OPPORTUNITY

Grand Hampton at Langley represents a stabilized multifamily investment opportunity in a high-demand sector of the Hampton Roads market.

The property benefits from a thoughtful capital improvement program, with units upgraded to feature modern finishes including plank flooring, granite countertops, updated cabinetry, and improved appliances. These enhancements improve resident appeal while leaving room for future value-add through the remaining unrenovated units.

Currently, rent levels at Grand Hampton lag behind market-supported rates for similar renovated assets nearby, presenting immediate upside for new ownership. The property’s rent gap—averaging $169–$388 across various floorplans—can be bridged through natural lease turnovers, offering investors the ability to grow revenue without substantial additional capital outlays. The surrounding submarket continues to show robust rent fundamentals and limited new supply, ensuring continued demand for well-maintained communities.

Additionally, the cost of homeownership in the area has risen sharply, widening the rent-versus-own disparity and driving sustained demand for rental housing. Residents benefit from a range of amenities, including a basketball court, playground, picnic and grilling areas, and upgraded in-unit features, all positioned within a stable, top-performing submarket with strong long-term growth prospects.

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Grand Hampton at Langley

  • ADDRESS611 Michigan Avenue, Hampton, VA 23669
  • # OF BUILDINGS / STORIES9 2-story buildings
  • NUMBER OF UNITS136
  • YEAR BUILT / RENOVATED1968 / On-going
  • NET RENTABLE AREA111,792 SF
  • COUNTYHampton
  • ACRES8.059
  • SIRE AREA / DENSITY16.88
  • PARCEL ID2000242
  • ZONINGR-M, Residential Multi-family

Investment Highlights

1

SIGNIFICANT CAPITAL INVESTED

2

PROVEN RENT GROWTH OPPORTUNITY – MARKET-SUPPORTED UPSIDE

3

HAMPTON ROADS OUTPERFORMS PEER CLASS B MARKETS

4

5

STRONG RENT-VS-OWN DISPARITY SUPPORTS DURABLE RENTAL DEMAND

6

CENTRALLY LOCATED TO HAMPTON’S DEMAND DRIVERS

DC METRO

4445 Willard Avenue
Suite 1200
Chevy Chase, MD 20815

INVESTMENT SALES

DREW WHITE
Senior Managing Director
202.294.6976
[email protected]

CARTER WOOD
Managing Director
804.350.2109
[email protected]

COLE CARNS
Director
804.878.1258
[email protected]

MATT STRAUGHAN
Senior Director
540.817.9360
[email protected]

MORTGAGE BANKING

PATRICK MCGLOHN
Senior Managing Director
703.987.0874
[email protected]

BRIAN GOULD
Managing Director
917.297.7551
[email protected]

HUNTER WOOD
Senior Director
804.513.6243
[email protected]

NATALIE HERSHEY
Associate Director
301.941.4632
[email protected]

PATRICK CUNNINGHAM
VP – Originations
443.878.4710
[email protected]

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