Lincoln Grove

Lincoln Grove

Greensboro, NC
Available
  • Property Type: Apartments
  • Year Built : 1961
  • Property Size: / 116 Units

Overview

Capstone Apartment Partners is pleased to present Lincoln Grove, a 116-unit garden-style multi-family asset located in Greensboro, North Carolina comprised of 98 affordable/LIHTC units and 18 market rate units. Lincoln Grove presents the rare opportunity to convert all affordable units, previously operating in conformance as a Low-Income Housing Tax Credit (LIHTC) project, to market rate immediately upon the sale of the asset, as the LIHTC compliance period has expired. Both affordable and market rents at the property significantly trail direct competitors in the submarket allowing new ownership the opportunity to immediately raise rents to market rate to substantially increase rental income beginning day one. Additionally, the opportunity exists for a robust value-add program on the virtually untouched units, taking the property to the next level. The Greensboro market is primed for explosive rental growth, evident by multiple new job announcements coming to the area. With positive multi-family fundamentals, an influx of new job opportunities, and a major value-add play, Lincoln Grove presents investors with an excellent asset poised for substantial rent and EGI growth for years to come. 

Investment Highlights

  • Opportunity to Convert All Units to Market Rate Immediately
  • Well-Positioned Asset Poised for Robust Value-Add Opportunity
  • Organic Rent Growth Achievable as Market Rents Trail Direct Competitors
  • Favorable Market Fundamentals
  • Proximity to Demand Drivers

Contact Information

Eric Liebich Director P: 248.225.3706
O: 800.746.3175 ext. 730
eric@capstone-companies.com
Ron Corrao Managing Director P: 757.749.6994
O: 800.746.3175 ext. 712
ron@capstone-companies.com
Travis Cundiff Investment Sales Advisor P: 919.601.3119
O: 800.746.3175 ext. 792
tcundiff@capstone-companies.com
Jourdan Sullivan, MAI Investment Sales Advisor P: 903.450.3898
O: 800.746.3175 ext.749
jsullivan@capstone-companies.com
Matt Weinstein Investment Sales Advisor P: 703.987.0236
O: 800.746.3175 ext. 732
w.matt@capstone-companies.com
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