Capstone is pleased to present Retreat at Ragan Park, a 144-unit property situated on ±33.58 acres that offers spacious one-, two-, and three-bedroom floor plans. The property wraps around a gorgeous spring-fed lake and features a leasing office, business center, pet play area, two swimming pools, lake access with fishing allowed, two racquetball courts, event center, & washer/dryer connections in all two- and three-bedroom units. There is a lot of rental upside through occupancy stabilization; however, an investor could further increase rents with a few minor cosmetic improvements and capitalize on rental income opportunities presented by the spacious event center at the front of the property. Retreat at Ragan Park represents an opportunity to purchase a property well below replacement costs that produces double-digit post-renovation returns in a steadily improving market.
Increase Revenue by Stabilizing Occupancy
Large One-, Two-, and Three-Bedroom Units
Rental Upside Through Moderate Value-Add Program
Increase Additional Income Through Event Center Rentals