Wallace Terrace

Wallace Terrace

Charlotte, NC
Under Contract
  • Property Type: Apartments
  • Property Size: / 1.45 Acres / 32 Units

Overview

Capstone Apartment Partners is pleased to present Wallace Terrace Apartments in Charlotte, NC.

Located just 7 minutes from downtown, this asset is in an amenity-rich area of Charlotte proper. Wallace Terrace Apartments provides an exceptional opportunity to acquire a well-maintained asset that will benefit from operational improvements and structured interior renovation programs implemented by new ownership. New management will be able to organically drive rent increases and tenant demand by aligning rents with market competitors and renovating interiors to drive rent growth.

Wallace Terrace is currently $210 below market rents across all unit types. A continuation of the current ownership’s interior renovation program will aid the property in aligning rents with market averages. Interior upgrades coupled with a professional, third-party management company will boost Wallace Terrace’s NOI from day one, providing new ownership with exceptional returns.

Investment Highlights

Investment Highlights:
Built-In Upside with Value-Add Opportunity
Located in the Best Public-School Zoning in Charlotte
Management Efficiency Opportunity
Organic Rent Growth Available Through Professional Third-Party Management

Contact Information

Alex McDermott Partner P: 704.533.4865
O: 800.746.3175 ext. 700
alex@capstone-companies.com
Rhodes Marley Investment Sales Advisor P: 704.840.5927
O: 800.746.3175 ext. 736
rhodes@capstone-companies.com
Austin Green Director P: 704.962.7454
O: 800.746.3175 ext. 701
austin@capstone-companies.com
Brian Ford Managing Partner P: 704.962.9462
O: 800.746.3175 ext. 702
brian@capstone-companies.com
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