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.