66-Unit Multifamily Portfolio | Manassas, Virginia

Old Centreville Gardens, located at 7500 Prince Cole Ct, occupies a strategic position within Prince William County, Virginia’s second-most populous and one of its fastest-growing jurisdictions. As of early 2026, the county continues to serve as a premier residential anchor for the Northern Virginia workforce, boasting a median household income of approximately $131,402. This affluent economic base is supported by a diverse employment landscape, with significant concentrations in professional, scientific, and technical services, as well as a robust public administration sector. The county's unemployment rate consistently trends below national averages, currently hovering near 3.3%, signaling a stable and resilient environment for multifamily investments. The property is situated in the Manassas submarket, a region characterized by its "opportunity market" status within the D.C. metro area. Manassas serves as a critical hybrid-work sweet spot, offering more competitive housing costs than neighboring Fairfax County while maintaining superior connectivity via Route 28, I-66, and the Manassas VRE. Local demographics reflect a young, professional population with a median age of 36, many of whom are increasingly pushed toward the rental market due to the rising barrier of entry for single-family homes, which currently see median sales prices between $450,000 and $540,000. This "renter-by-necessity" cohort provides a reliable tenant base for consolidated condominium portfolios like Old Centreville Gardens. From a multifamily perspective, the location benefits from significant nearby capital investment and infrastructure improvements. The Innovation Town Center and several new high-density developments in the Historic Downtown and Manassas Park areas are redefining the local skyline, bringing increased retail amenities and "live-work-play" functionality to the immediate vicinity. These new developments are setting higher rent ceilings across the submarket, allowing well-positioned assets to capture "overflow" demand. With 66 units already stabilized and rented, the subject property is primed to capitalize on this upward pressure on rents and the continued migration of residents seeking the balance of suburban space and urban accessibility.