The Flats at Legacy holds a singular position within Poquoson’s 439-unit multifamily supply as the only purpose-built Class A community, representing 176 units of modern, institutional-quality housing in a submarket otherwise dominated by older Class B/C properties. Rather than relying on downtown density or urban growth corridors, the asset delivers top-tier finishes and amenities within an affluent, low-density residential pocket that remains just minutes from NASA, Langley AFB, Jefferson Lab, and the Newport News tech and medical hubs. This combination of high-end product + high-quality suburban location creates a competitive moat that cannot be replicated nearby.

Recent lease trends show outsized momentum, with new leases signing 4.8%–5.8% above in-place rents over the last 30–60 days. With the property now 98.3% occupied and fully stabilized, a buyer has a clear opportunity to reset rents to market-leading levels and capture near-term revenue upside.

LEASE-UP VELOCITY

Deep renter demand propelled The Flats at Legacy to stabilization, averaging 14 monthly leases. Peak months exceeded 20+ leases, particularly within the larger two-bedroom product, highlighting significant demand elasticity and the submarket’s ability to absorb high-end units even without concessions.

The Flats at Legacy was delivered under Poquoson’s PUD-MU zoning, which enabled ownership to secure approvals for a highly efficient development program featuring 176 units (≈26 units/acre) across four-story buildings — a density and height profile that exceeds what traditional suburban zoning would typically allow in the Poquoson market. This favorable entitlement structure enhances long-term value by preventing comparable density from being replicated nearby and further solidifies The Flats at Legacy as the benchmark asset in its immediate competitive set.

Further, developed with high-end materials and a luxury-forward aesthetic, The Flats at Legacy sets the standard for Class A living in Poquoson.

Poquoson offers investors rare access to one of the most stable and federally backed job markets in the nation – Newport News Shipbuilding, Langley AFB, and NASA Langley – while sitting inside a high-income, supply-constrained coastal pocket. This is where defense engineers, shipyard leadership, and NASA personnel choose to live because it offers privacy, quality schools, and quality of life that the neighboring cities cannot match. Demand here is strong, incomes are high, and regional job drivers are only expanding.

Poquoson City Public Schools (“PCPS”) is consistently ranked among Virginia’s highest-performing school districts, offering one of the state’s most academically rigorous and stable K–12 ecosystems. All zoned schools for the property—Poquoson Primary, Poquoson Elementary, Poquoson Middle, and Poquoson High—hold A to A+ ratings across every major category, including School Performance, College Readiness, School Resources, Discipline, and Overall District Characteristics.

PCPS IS WIDELY RECOGNIZED FOR:

• Top-tier statewide performance, A/A+ ratings across all grade levels
• A+ overall district grade, with standout marks in College Readiness, Teachers, and School Resources
• Exceptional academic outcomes, including A/A+ performance in core subjects
• Highly resourced campuses with A+ discipline and strong instructional quality
• A stable, highly engaged parent base, reinforcing long-term consistency and demand
• One of Virginia’s safest and most cohesive school environments