New Offering: 118-Unit Proven Value-Add Asset in Hickory, NC

Download Offering Materials: Creekside Apartments

Capstone Apartment Partners is pleased to present Creekside Apartments: a 1981 vintage, 118-unit garden-style community located in Hickory, North Carolina. The property has been exceptionally well-maintained by current ownership, with over $1.8M invested in CapEx to date. Creekside recently underwent extensive interior upgrades, with roughly 44% of the units getting a full-scale remodel and 50% of the units getting a partial remodel, thereby providing a perfect opportunity to continue the value-add program and achieve significant premiums. The property is conveniently located right outside the heart of Hickory and offers residents convenient access to multiple economic demand drivers, retail, and job opportunities. Additionally, Hickory has seen an impressive year over year rent growth of 10%+ as well as positive multi-family fundamentals, which positions the property for growth for years to come. With the opportunity for significant premiums through the continuation of the value-add program, positive multi-family fundamentals, and an excellent location in Hickory, Creekside Apartments is one of the premier investment opportunities in Hickory.

Existing Value Propositions
Recent Capital Infusion and Limited Deferred Maintenance
Significant Value-Add Opportunity
Positive Multi-Family Fundamentals
Job Growth in Catawba County
Proximity to Retail and Amenities

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