Map of Property

Maple Bay Townhomes

Maple Bay, Virginia Beach, VA 23454

  • For Sale Contact for pricing
  • Property Type Other
  • Property Size 1,200 SF
  • Lot Size 0.65 SF
  • Year Built 1971
  • Date Updated May 16, 2024

414-UNIT TOWNHOME-STYLE COMMUNITY WITH VALUE-ADD UPSIDE | PROVEN $120+/UNIT PREMIUMS

Colliers is pleased to present Maple Bay, a 414-unit community with proven value-add upside located in affluent Virginia Beach, VA only steps from Whole Foods, Target, and Trader Joe’s. 100% market-rate and featuring large townhome-style units (Avg. 1,200 SF), new ownership will be able to push top-line rent growth significantly through a proven value-add execution. 214 units (52%) are in classic condition featuring near original cabinets, black appliances, tile floors, and laminate countertops. 200 units have modest upgrades including hardwood-style floors and higher-end laminate countertops that generate monthly rent premiums of $121/unit. Current renovations represent a baseline for value-add upside. Elevating all 414 units with modern cabinets, flooring, stainless steel appliances, upscale lighting, backsplash, and granite countertops unlocks over $1.25 million in additional annual revenue.

In excellent physical condition, Maple Bay offers a comprehensive amenity package that allows new ownership to concentrate investment capital on unit interior revenue-generating improvements.

 

 

IMMEDIATE ACCESS TO WHOLE FOODS, TARGET, & TRADER JOE’S IS A TRUE DIFFERENTIATOR | MINIMAL NEW SUPPLY IS FUELING OUTSTANDING MARKET RENT GROWTH

Positioned just off I-264 (70,700 vehicles per day), Maple Bay is less than 1-mile from popular grocery and retail including Whole Foods, Target, Trader Joe’s, Walmart, the Fresh Market, and Kroger. Minutes from Virginia Beach’s largest employer, Oceana Naval Air Station (10,000 personnel and 10,000 civilian jobs), the property is also close to the Port of Virginia, Sentara Virginia Beach Hospital (1,750 jobs), and a new Amazon robotics center (1,000+ jobs).

Market fundamentals are excellent with an unemployment rate of 3.0%, minimal new supply over the next 3+ years, and $117,900 AAHI within a 5-mile radius of the property. Leveraging strong market fundamentals and outstanding market rent growth (4.33% annually from 2024 to 2026), new ownership will be able to quickly push top-line revenue and time value-add improvements perfectly.

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Contacts

broker

Will Mathews

broker

Thomas Leachman

broker

Jake Bradshaw

Location

Getting Around

  • Walk Score ®

    70/100 Very Walkable

  • Transit Score ®

    39/100 Some Transit

  • Bike Score ®

    57/100 Bikeable
Powered by Walk Score ®
  • City Virginia Beach, VA
  • Neighborhood Hilltop Manor
  • Zip Code 23454
  • Market Richmond Tidewater

Points of Interest

  • Newtown Road

    8.93 miles

  • 7-Eleven

    0.23 miles

  • Wawa

    0.44 miles

  • BP

    0.53 miles

  • Sunoco

    1.09 miles

  • Wawa

    1.55 miles

  • Shell

    1.86 miles

  • BP

    2.40 miles

  • Exxon

    2.91 miles

  • BP

    2.95 miles

  • 7-Eleven

    3.14 miles

  • North Lot 3

    2.15 miles

  • North Lot 2

    2.16 miles

  • North Lot 1

    2.20 miles

  • South Lot 2

    2.28 miles

  • South Lot 1

    2.31 miles

  • Cop rest spot

    2.33 miles

  • Valet Parking

    2.45 miles

  • WRV Skatepark

    2.50 miles

  • Public Parking Deck

    2.85 miles

  • 19th Street Municipal Parking Lot North ($7/day wk $10/day wkd)

    2.88 miles

  • DoubleTree

    2.03 miles

  • Beach Spa Bed & Breakfast

    2.76 miles

  • MacTrift Motor Inn

    2.84 miles

  • La Quinta Inn

    2.86 miles

  • Oceans Twenty-Seven Hundred

    2.87 miles

  • Clarion Inn & Suites

    2.93 miles

  • Knights Inn & Suites

    2.93 miles

  • Travelodge

    2.93 miles

  • Neptune Park Inn

    2.94 miles

  • Hyatt House Virginia Beach/Oceanfront

    2.97 miles

  • Guadalaraja Mexican Restaurant

    0.30 miles

  • Sonic

    0.33 miles

  • Outback Steakhouse

    0.36 miles

  • Captain D's

    0.36 miles

  • Jersey Mike's Subs

    0.41 miles

  • Captain George's Seafood Restaurant

    0.41 miles

  • Burger King

    0.41 miles

  • McDonald's

    0.43 miles

  • Yukai Buffet

    0.44 miles

  • Bangkok Garden

    0.46 miles

  • Virginia Beach Friends School

    0.84 miles

  • Linkhorn Park Elementary School

    0.98 miles

  • Lynnhaven Middle School

    1.56 miles

  • Norfolk Christian School - Virginia Beach Campus

    1.61 miles

  • Trantwood Elementary School

    1.82 miles

  • First Colonial High School

    1.94 miles

  • Centura College

    2.05 miles

  • Cape Henry Collegiate School

    2.14 miles

  • Virginia Beach Middle School

    2.46 miles

  • Alanton Elementary School

    2.59 miles

  • Infant Services

    2.57 miles

  • Academy of Early Learning

    3.72 miles

  • A World of Children

    4.31 miles

  • KinderCare Learning Center

    4.61 miles

  • Day Care Center

    4.64 miles

  • Child Development Center

    5.70 miles

  • Forever Young Montessori School and Child Care Center

    5.86 miles

  • Rainbow Preschool - Childcare Center

    6.25 miles

  • Montessori Children's House

    6.52 miles

  • Kindercare Learning Center

    6.54 miles

Frequently Asked Questions

What is the total square footage of Maple Bay Townhomes?

Maple Bay Townhomes totals 1,200 square feet.

When was this property built?

Maple Bay Townhomes was built in 1971.

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