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THE OFFERING

The multifamily community offers a family-friendly atmosphere with abundant amenities such as a clubhouse, pool, fitness center and units with private balconies and patios. The property is also located minutes from some of the largest employers in the area.

The community currently has below-market rental rates compared to other properties nearby. This asset is a prime value-add opportunity investment that will allow for further rent increases with an already-established 99% occupancy. New ownership can modernize the asset through renovations/upgrades and increase rental rates and adding other income streams.

INVESTMENT SUMMARY

ORGANIC RENT GROWTH

New ownership can capitalize on strong rent growth seen across the market.

 

Rents can be increased organically by an average of $265/unit based on supported comparables. 
By increasing below-market rents, annual rental revenue will grow by 29%.
Concessions are projected to be close to 0% through 2026.
Vacancy rates are projected to be 5% through 2026.
VALUE-ADD POTENTIAL

Opportunity to further push rents by offering affordable, updated units and improved amenities.

Rents can be increased by an average of $95/unit based on market comparables with minor upgrades.


Value-add opportunities:

Select unit interior upgrades: stainless steel appliances, add microwaves, LVP flooring, modern fixtures, bathroom vanities/cabinets, hard-surface countertops and new paint.
Installation of a small dog park
Parking lot repairs
Minor landscaping
Pressure washing
Exterior painting

CONTACT US

Windy Parsons
Vice President
Windy@sweetwatercap.us
(336) 688‐2320

Brandon Fox
Vice President Brandon@sweetwatercap.us
(919) 670‐9814

Jackson Howard
President Jackson@sweetwatercap.us
(910) 635‐0240
Don-Carlos Moniz
Broker
Don@sweetwatercap.us
(910) 988-6653
Rob Ferguson
Vice President of Sales Rob@sweetwatercap.us
(910) 730-4348

 

Bill Cobey
Broker
Bill@sweetwatercap.us

(919) 961-8888
Rosalyn Funez
Broker
Rosalyn@sweetwatercap.us
(919) 364-6773
Cameron Thigpen
Broker
Cameron@sweetwatercap.us
(910) 483-0516
Brett Yates
Broker
Brett@sweetwatercap.us
(919) 801-6301

PROPERTY INFO ACCESS

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