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Capstone Apartment Partners is pleased to present Green Tree Apartments, a well-located, 1970’s vintage asset with immediate value-add potential in the Kings Mountain submarket of the Charlotte MSA. Green Tree represents a rare opportunity to acquire an ideally positioned asset with significant physical and operational value-add potential that offers an ideal mix of large floorplans in an area experiencing unprecedented levels of growth and economic investment.

Investment Highlights

  • Significant Operational Upside – Physical Occupancy 24%+ Below Direct Competitors
  • Value-Add Opportunities – Immediate value creation opportunities via continuing interior improvements and improving managerial operations
  • Loss to Lease – Reducing the $2,320/unit annual loss to lease, $232,000 annually (2.16 rent roll)
  • Minimal Capital Needs – All new windows, light interior upgrades on majority of units
  • Potential for new owner to charge back for utilities and recoup $55,000+ annually
  • Available Free and Clear

Investment Summary
Address:  612 Charles Street
City/State:  Kings Mountain, NC
Property Type:  2-Story Garden
Acreage:  8.88
Number of Units:  100
Year of Construction:  1972
Occupancy:  68.0%
Rentable Square Feet:  163,296
Average Unit Size:  1,633 sq. ft.
Average Rent per Unit:  $600
Average Rent per Sq. Ft.:  $0.37
Sales Terms:  Free & Clear
Offering Price:  TBD by Market

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Q2 2020 Atlanta Market Report from Capstone Apartment Partners

Capstone Apartment Partners is pleased to share our Q2 2020 market report for Atlanta, GA. The content of the report aims to quantify the effects of the COVID-19 pandemic on the multi-family apartment sector. Click below to view the most recent report. We hope that you find this report useful and insightful! Click Here to […]

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