Meadowview Townhomes in Newport News sells for $24.5 million
Meadowview Townhomes, a 400-unit community in Newport News, has sold for $24.5 million, or about $61,250 per unit. In announcing the sale on Wednesday, Marcus & Millichap, did not disclose the buyer.
“Meadowview Townhomes is a newly renovated property that is well positioned to provide new ownership with a stable income stream and long-term appreciation,” Christopher Chadwick, first vice president investments in Marcus & Millichap’s Washington, D.C., office, said in a statement.
Chadwick and Altay Uzun, senior associates in the firm’s Hampton Roads office, represented the seller and procured the buyer.
Meadowview Townhomes was built in 1967 and renovated last year. Situated on more than 26 acres at 4801 Marshall Ave., the property is five miles from Interstate 664 and close to the area’s primary commercial corridor and Coliseum Central, which includes the Hampton Coliseum and the Peninsula Town Center. The Newport News/Williamsburg International Airport is 15 miles away.