Cambridge Park and Dewberry Terrace

Cambridge Park and Dewberry Terrace

Charlotte, NC
Under Contract
  • Property Type: Apartments
  • Property Size: 67,216 SF / 5.53 Acres / 64 Units

Overview

Capstone Apartment Partners is pleased to present Cambridge Park and Dewberry Terrace: a 64-unit, townhome community located in the heart of Charlotte, North Carolina. These assets are operated collectively, are contiguous, and extremely well maintained, offering rare three and four-bedroom townhomes with the submarket's highest rents. Investors will benefit from significant recent CapEx, providing a turn-key community with limited exterior deferred maintenance. Almost 75% of the Cambridge Park and Dewberry Terrace residents are part of the housing choice voucher program, which is ideal for investors seeking stability and insulation from collection risks. This property is ideally situated in the path of growth and resides in an Opportunity Zone offering substantial tax benefits. As a result, Cambridge Park and Dewberry Terrace will benefit directly from sustained development in the Wilkinson Blvd Corridor, in addition to its ideal location convenient to all of Charlotte's most significant economic demand drivers and employment centers.

Investment Highlights

Investment Highlights
Highest Rents in Submarket for Three and Four-Bedroom Units
Housing Choice Vouchers Insulates Owner from Collection Risks
$330K+ of Capital Investment Since September 2019
Ability to Boost Gross Potential Rents by Returning Two Units to Service
Located Directly in Opportunity Zone
Located in Path of Progress Along the Wilkinson Blvd Corridor

Contact Information

Ron Corrao Senior Advisor P: 757.749.6994
O: 800.746.3175 ext. 712
ron@capstone-companies.com
Caleb Troop Senior Advisor P: 314.607.3481
O: 800.746.3175 ext. 725
caleb@capstone-companies.com
James Baker Investment Sales Advisor P: 407.451.3278
O: 800.746.3175 ext. 713
james@capstone-companies.com
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