The Villas at the Vineyard & The Townhomes at Little Creek

The Villas at the Vineyard & The Townhomes at Little Creek

Winston-salem, NC
Available
  • Property Type: Apartments
  • Year Built : 1962 & 1970
  • Property Size: 237,909 SF / 229 Units

Overview

Capstone Apartment Partners is pleased to present Villas at the Vineyard (1970 vintage, 134 units) and Townhomes at Little Creek (1966 vintage, 95 units) located in Winston-Salem, North Carolina. The properties are located exactly 1 mile apart and are operated independently of each other but are being offered together to create an immediate foothold in the sub-market and economies of scale for new ownership. Villas at the Vineyard and Townhomes at Little Creek boast an attractive mix of one- and two-bedroom garden-style and townhome-style floorplans and feature minimal deferred maintenance. Across both properties, current ownership has renovated roughly 55% of the units with a moderate interior upgrade package and achieved premiums ranging from $75 to $150, laying the groundwork for new ownership to complete the value-add program and add additional upgrades to boost rents even further. With a prime location within the Hanes Mall Retail Corridor and promising upside on a value-add program, Villas at the Vineyard and Townhomes at Little Creek are poised to achieve rental growth for years to come.  

Investment Highlights

      Attractive Mix of One- and Two-Bedroom Floorplans

      Recent Capital Infusion and Limited Deferred Maintenance

      Value-Add Opportunity

      Proximity to Retail and Job Opportunity

      Easy Access to Multiple Highways

      Contact Information

      Alex McDermott Partner P: 704.533.4865
      O: 800.746.3175 ext. 700
      alex@capstone-companies.com
      Ron Corrao Director P: 757.749.6994
      O: 800.746.3175 ext. 712
      ron@capstone-companies.com
      Austin Green Director P: 704.962.7454
      O: 800.746.3175 ext. 701
      austin@capstone-companies.com
      Thomas Colaiezzi Investment Sales Advisor P: 901.603.8590
      O: 800.746.3175 ext. 714
      tcolaiezzi@capstone-companies.com
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