Properties
Woodmere Trace
Woodmere Trace
6741 E Tanners Creek DrNorfolk, VA 23513
Woodmere Trace is a 300-unit apartment project situated on 19 acres in Norfolk, Virginia. The commuter-friendly location is within a fifteen-minute drive of downtown Norfolk and caters to a growing demographic of individuals who desire affordable housing options while maintaining a reasonable commute to the region’s largest employers. Our investment strategy is to improve net operating income through value-add (property and unit) upgrades, institutional-quality property management, and rent maximization.
Norfolk, VA’s economic and housing demand drivers include:
· U.S. Navy (including the world’s largest naval station, four Navy SEAL teams, and 91,000 personnel)
· Port of Virginia (6th largest port in America)
· Norfolk International Airport (4.1 million passengers per year)
· Sentara Healthcare System (3,500 hospital beds throughout Virginia)
· Norfolk State & Old Dominion Universities (30,000 students)
· Various medical service providers
Demographics
1 mi. | 3 mi. | 5 mi. | |
---|---|---|---|
Population | 18,215 | 106,957 | 256,674 |
Households | 7,802 | 45,746 | 106,983 |
Avg HH Income ($) | 84,075 | 96,824 | 100,008 |
Med HH Income ($) | 58,125 | 67,897 | 68,013 |
Median Age | 36 | 38 | 35 |
Highlights
Type:
Residential
Acres:
19