Capstone Apartment Partners is pleased to present Jackson Pointe Apartments: a 48-unit, townhome-style community located in the popular Highland Springs neighborhood of Richmond, Virginia, which represents a rare opportunity to acquire a highly desirable townhome-style asset in ideal proximity to downtown Richmond.
All of Jackson Pointe's units have
undergone condo-quality renovations in recent years at an approximate
cost of $25,000/unit. Tenants are provided with the premier rental
option in the submarket, given its proximity to downtown Richmond and
its massive townhome style floor plans, with all units containing a full
size washer/dryer connection. As a result of recent capital
improvements and the asset’s overall attractiveness, the property has
experienced a substantial increase in EGI since implementing a value-add
program and is continuing to trend higher. Jackson Pointe possesses
significant upside potential via operational improvements,
implementation of a comprehensive utility savings program, and the
opportunity to build an additional 40+ units on the property.