Arbos at Fair Lakes_Property for Sale
Arbos at Fair Lakes_Property for Sale
4408 Oak Creek Ct, Fairfax, VA, 22033-4201, US

Arbos at Fair Lakes

Asset description

1987 vintage, 282-unit property located in the heart of Fairfax, Virginia. The Property features 62 unrenovated units (22% of unit mix) and 220 previously upgraded units (78% of unit mix, completed predominantly between 2014-2017). Arbors at Fair Lakes presents the opportunity for a comprehensive renovation strategy and possesses immense achievable upside and value-add potential through in-unit, common area, and amenity renovations. Current in-place rents are ~20% below newer vintage, market-leading competition, providing for substantial headroom for rental rate growth.

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Attributes

Number of units
282 units
Occupancy
97.00%
Year built
1987
Building area Net
253,988 sf
Land area Net
20.95 acres (912,591 sf)

Media

Investment highlights

  • Premier Northern Virginia Location with Significant Value-Add Upside
  • Strong Historical & Current Property Performance: 9.5% Growth on Last 20 New Leases, 7.9% Growth on Last 20 Renewals
  • Strategically Positioned in the Epicenter of NoVa’s Employment Hubs
  • Highly Amenitized Micromarket Surrounded by 5.3 MSF of Retail

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Last updated
May 24, 2023