Download Offering Materials: Villas at the Vineyard & Townhomes at Little Creek
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.
Attractive Mix of One- and Two-Bedroom Floorplans
Recent Capital Infusion and Limited Deferred Maintenance
Proximity to Retail and Job Opportunity
Easy Access to Multiple Highways