The Village at Hermitage

The Village at Hermitage

Hermitage, TN
Available
  • Property Type: Apartments
  • Year Built : 1975
  • Property Size: 70,200 SF / 78 Units

Overview

Capstone Apartment Partners is pleased to present The Village at Hermitage, a 78-unit, build-for-rent style apartment community in Hermitage, Tennessee. The Village at Hermitage is conveniently located along Lebanon Pike, a highly trafficked thoroughfare with immediate access to multiple retail and employment hubs. The current owner has implemented a value-add program that is targeting unit interiors after recently completing exterior improvements. The in-place improvement program has demonstrated the demand for upgraded product, as fully renovated units are achieving in-place rent premiums of $350. With the ability to further push rents via amenity and office relocation improvements, the Village at Hermitage presents an exciting opportunity to purchase a quality asset. This allows new ownership to immediately focus on continuing the interior value-add initiative and pushing rents.

Investment Highlights

  • In Place Assumable Financing at 3.5%
  • Proven Value-Add Upside
  • Ability to Add 1-2 Buildings Via Rezoning, Per Planning
  • HOA Control

Contact Information

Adam Klenk Managing Director P: 615.861.9906
O: 800.746.3175 ext. 706
adam@capstone-companies.com
Tyler Mayo Senior Advisor P: 662.386.1622
O: 800.746.3175 ext. 729
tyler@capstone-companies.com
Austin Heithcock Investment Sales Advisor P: 615.477.1971
O: 800.746.3175 ext. 721
h.austin@capstone-companies.com
Jordan Arand Investment Sales Advisor P: 815.291.9250
O: 800.746.3175 ext. 747
jarand@capstone-companies.com
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