Learn more about this opportunity here: http://capstoneapts.listinglab.com/JacksonPointe/index.cfm.
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.
Investment Highlights
Largest 3-Bedroom Floorplan in Market
Operational Upside Through Water Submetering and Substantial Recapture of Loss-to-Lease
10 Minutes from Richmond International Airport Job Corridor
Opportunity to Develop Additional 40+ Units
