Recent operational stabilization and improved resident-qualification standards have set the stage for a compelling renovation-driven growth story at both phases of the Doria Apartments & Townhomes. The completed unit upgrades confirm this potential by consistently increasing rents across both partial and full renovation scopes, while a substantial inventory of classic units offers long-term upside across both phases. The asset’s improved operational footing now supports a clean, repeatable renovation program with attractive return-on-cost metrics.

Opportunity to activate underutilized green space through thoughtfully designed outdoor enhancements that drive rent growth, retention, and long-term asset value. Doria Apartments & Townhomes presents an immediate opportunity to drive rent growth and capture ancillary income through the introduction of highly marketable community upgrades. Both phases offer ample green space and underutilized common areas, ideally suited for the integration of modern resident lifestyle amenities such as:

• Outdoor Grilling Pavilion – Creates a central social hub that activates underused green space and supports longterm retention.
• Firepit Lounge – Adds resort-style ambiance with lowmaintenance installation costs and strong renter appeal during evening hours.
• Paw Park – Capitalizes on pet ownership demand, fostering resident interaction and improving satisfaction scores.

By layering these enhancements across both the apartment and townhome phases, ownership can differentiate the asset from nearby competition, strengthen renewal conversion, and justify sustainable rent premiums. These improvements also position Doria as one of the few properties in the submarket offering purpose-built outdoor activation zones tailored to today’s renter preferences.

Doria Apartments & Townhomes benefits from a constrained multifamily development pipeline within the Virginia Beach West submarket, creating a highly favorable environment for continued rent growth. While multifamily deliveries have slowed across Coastal Virginia amid rising construction costs, labor shortages, and tightening lending conditions, the submarket’s near-term delivery schedule remains muted— limiting new competitive inventory through at least 2026.

In the immediate vicinity of Doria, only a handful of projects are either under construction or in lease-up, with the 315-unit Artistry on Greenwich representing the only sizable market-rate community currently underway. The remaining developments—such as Attain at Chic’s Beach and Hunter’s Mill II—are either approaching stabilization or located several miles away, further reducing direct competitive overlap.

This scarcity of new product positions Doria to capture organic rent growth as nearby assets stabilize and new supply remains limited in the medium term. The absence of new multifamily supply risk highlights Doria’s favorable standing in a submarket defined by strong absorption, solid fundamentals, and an increasingly high barrier to entry for future development.

Located in the heart of Virginia Beach’s core employment corridor, the Doria assets benefit from proximity to a diverse economic base anchored by healthcare, defense, logistics, and tourism. The region’s combination of military stability, expanding private-sector investment, and lifestyle-driven appeal supports strong renter demand and long-term occupancy fundamentals.

Prime positioning along Route 29 with direct access to UVA (21,000+ employees), healthcare anchors (10,000+ employees), federal defense employers, and Charlottesville’s retail and lifestyle hubs ensures deep renter demand and long-term absorption capacity.

Offered free and clear, allowing buyers to optimize leverage and returns.