The Commons Of McLean South

Posted: 5/15/2017
246 Units
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About The Commons Of McLean South

As exclusive agent for LCOR/JV Acquisition LLC, (“Owner”), Cushman and Wakefield’s Multifamily Advisory Group is pleased to present The Commons of McLean South, located at 7300 Dartford Drive in McLean, Virginia (the “Property” or “Asset”). The Asset is currently improved with 246 multifamily units constructed in eleven separate garden apartment buildings. Comprised of 12.27 acres, the Property is zoned R-20, which allows construction of multifamily and single family attached units at a maximum density of 20 units per acre (24 units per acre with affordable housing bonus). The Commons of McLean South presents a very unique opportunity to acquire a well maintained apartment community with strong in-place cash flows and tremendous upside. The Property is one of the few assets of its kind to be offered in the McLean/ Tysons submarket. The underlying R-20 zoning allows the Property to be redeveloped by-right with townhomes and/or multi-family (maximum density of 20 uits/acre) without the typical development conditions that apply to rezonings in Fairfax County. The comprehensive plan specifically identifies the Property with the redevelopment option of “residential” at 20-30 dwelling units per acre. Based upon the underlying R-20 zoning, the property can support a redevelopment of up to 246 townhomes and/or multifamily units. **OM & Due Diligence Items Coming Soon**