Manassas Apartments Hit The Market, Could Sell For Over $100M

Chatsworth Park Manassas
Courtesy: Transwestern The Chatsworth Park apartments in Manassas, Va.

A 576-unit apartment complex in Manassas has hit the market and its price tag could reach nine figures.

Bozzuto built the Chatsworth Park apartments in 2001 on behalf of Chesapeake Residential Development, and is now a partial owner of the community, along with a subsidiary of the National Foundation for Affordable Housing Solutions, property records show.

The owners have retained Transwestern to market the property for sale, and the broker boasts the property is valued at more than $100M.

“Chatsworth Park offers investors a great value-add opportunity to renovate a rare, 2001 vintage asset with original interior finishes and great, in-place amenities,” Transwestern's Dean Sigmon said in a release. “This submarket of Northern Virginia historically has had strong long-term rent growth and low vacancy with little to no new apartment supply in the immediate area. We are expecting great interest from investors looking to make their first entrance into the D.C. market.”

The property is in western Prince William County at 8100 Chatsworth Drive in Manassas. It sits just off Route 66 and is less than three miles from an employment center at Innovation Park and less than five miles from the concert venue Jiffy Lube Live. Rents in the submarket have increased 5.3% in the last 12 months, according to Delta Associates.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Build Inc. Served With Notice Of Default On India Basin Project

Tennessee University Plans Campus In Chamblee: The Atlanta Deal Sheet

Developer Pays $7M For Planned Old Town Conversion: The D.C. Deal Sheet

FBI Opens Investigation Into Multifamily Investor Lurin Capital

Ruben Cos. Says It Can't Sell, Finance Navy Yard Multifamily Project

D.C. Court Tosses Lawsuit Over Proposed Rent-Freeze Ballot Initiative

Troubled Multifamily Loans Face A Refinancing Problem: Who Puts In New Equity?

NYC Pushes To Use Opportunity Zone 2.0 For Mamdani's Housing Goals

DOJ Charges LA Nonprofit Workers With Misusing $8.7M Meant For Housing Aid

Bugatti Lends Brand To 60-Story Miami Condo Tower

Loudoun County Moves To Pause Data Center Applications For 12 Months

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market