Admirals Way Norfolk, Virginia

This 168-unit apartment community was acquired in 1992. It is strategically located within walking distance of the Chesapeake Bay beaches and within five minutes from Norfolk Naval Base, Little Creek Amphibious Base, shopping, and restaurants. A major $ 2.9 million renovation was financed by the Virginia Housing Development Authority and completed in 2003. The renovation included interior and exterior improvements, which helped to reposition the property in the market. The apartment community has since generated substantial rent increases, and the value of the neighborhood has been enhanced significantly.

For more information, visit www.admiralsway.com.