Contacts
Property Details
- Property Type Other
- Lot Size 11.62 SF
- Year Built 1972
- Date Updated May 30, 2025
184 UNITS WITH PROVEN VALUE-ADD UPSIDE LOCATED IN AFFLUENT CHESAPEAKE, VA
Colliers is pleased to present Lake Village, a 184-unit community with proven value-add upside located in affluent Chesapeake, VA. Positioned minutes from the Port of Virginia and 15,000+ jobs at Norfolk Naval Shipyard, the property has a track record of strong demand and stable occupancy averaging 94% over the last 3 months. New ownership will leverage excellent demand (69% renewal rate in the last 6 months), no new supply over the next 3+ years, and strong effective market rent growth (averaging 3.49% from 2026 to 2028) to time value-add im provements perfectly.
128 units (70%) are in classic condition featuring oak cabinets, white appliances, and laminate countertops. 56 units (30%) have been renovated with upscale finishes such as hardwood-style floors, quartz countertops, subway tile backsplash, modern cabinets, new fixtures, and black appliances. Renovating all 184 units to the highest level will unlock substantial untapped annual revenue.
In great physical condition and recently infused with capital into deferred maintenance and landscaping, Lake Village offers a comprehensive amenity package that allows new ownership to focus investment capital on unit interior revenue-generating improvements.
94% Occupied
Reach out to the broker for more info on lease terms and amenities
Getting around
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32/100
Walk Score ®
-
24/100
Transit Score ®
-
38/100
Bike Score ®
Location
- City Chesapeake, VA
- Neighborhood Broadmoor
- Zip Code 23323
- Market Richmond Tidewater
Points of Interest
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MacArthur Square
5.28 miles
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Civic Plaza
5.29 miles
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Harbor Park
5.39 miles
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Norfolk
5.42 miles
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Monticello
5.56 miles
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York Street/Freemason
5.60 miles
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NSU
5.77 miles
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EVMC/Fort Norfolk
5.77 miles
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Ballentine/Broad Creek
6.35 miles
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Ingleside Road
6.90 miles
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Amoco
0.13 miles
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Shell
0.41 miles
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7-Eleven
0.47 miles
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Mobil
0.52 miles
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Sunoco
0.56 miles
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Wawa
0.96 miles
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Exxon
1.64 miles
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Electric Vehicle Charging Station
7.91 miles
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Tesla Supercharger
8.16 miles
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Lot 42
2.59 miles
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County Street Garage
4.24 miles
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Civic Center Lot
4.29 miles
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Water Street Garage
4.33 miles
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Middle Street Garage
4.40 miles
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Faculty Parking
4.41 miles
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Overflow Parking
4.45 miles
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Boat Trailer Parking
4.49 miles
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12th Grade Parking
4.58 miles
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Budget Lodge
0.37 miles
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Open 24 Lodge
0.44 miles
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Comfort Inn - Deep Creek
0.65 miles
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Days Inn
1.03 miles
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Econo Lodge
3.39 miles
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The Thrift Store Inn
3.97 miles
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WoodSpring Suites Chesapeake-Norfolk Greenbrier
4.12 miles
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Best Value Inn
4.15 miles
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Super Value Inn Ports Mouth/Olde Town Area
4.20 miles
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Savannah Suites
4.30 miles
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Food Lion
1.12 miles
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Kroger
3.46 miles
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Walmart Supercenter
3.64 miles
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Big Lots
4.20 miles
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Kohl's
4.45 miles
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Coast Guard Exchange
5.20 miles
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TJ Maxx
5.30 miles
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Ross
5.32 miles
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Dillard's
5.35 miles
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Target
5.44 miles
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