Adelade

Adelade

Knoxville, TN
Available
  • Property Type: Apartments
  • Year Built : 1967/2019
  • Property Size: 80,523 SF / 109 Units

Overview

Capstone Apartment Partners is pleased to present The Adelade: a 109-unit, garden-style, exceptionally-amenitized apartment community in Knoxville, Tennessee. Conveniently situated in the expanding South Knoxville submarket, The Adelade is located minutes from Downtown, the University of Tennessee, and other sought-after employment and retail destinations. Originally constructed in 1967, the asset underwent an extensive renovation in 2019 and is now primed for a light value-add program centered around adding washer and dryer connections, granite countertops, and stainless-steel appliances. The South Knoxville submarket has seen rapid expansion in new development over the last few years, while maintaining high occupancy levels, despite rising market rents. The Adelade represents an appealing opportunity to purchase a high-quality asset with virtually no deferred maintenance; thus, allowing incoming ownership to expand on the in-place value-add program, continue pushing rents, and generate additional value.

Investment Highlights

  • Significant Renovations Complete,Primed for Light Value-Add
  • Extraordinary Amenity Package
  • Additional Value-Add and Other Income Opportunities
  • Investment Fundamentals

Contact Information

Adam Klenk Managing Director P: 615.861.9906
O: 800.746.3175 ext. 706
adam@capstone-companies.com
Luke Searcy Investment Sales Advisor P: 731.592.9573
O: 800.746.3175 ext. 724
luke@capstone-companies.com
Tyler Mayo Investment Sales Advisor P: 662.386.1622
O: 800.746.3175 ext. 729
tyler@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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