Download Offering Materials: The District
Capstone Apartment Partners is pleased to present The District: a 377-unit apartment community in Knoxville, Tennessee. The District is conveniently located directly off I-40, minutes from the premier retail and office hubs in the highly desirable West Knoxville submarket. The West Knoxville submarket has seen an impressive 17.5%+ rent growth over the past year, while vacancy rates have remained lower than the Knoxville MSA average. Current ownership has renovated 51 units with a substantial interior scope of work, while also completing several major CapEx projects. Given the remaining delta in rents and scope of market competitors, the 1973-built asset is poised for a renovation program that will translate to an additional $118,164 in annual income each year of the renovation schedule. Strong market fundamentals and demographics, coupled with immediate accessibility to retail and entertainment, provide new ownership with the opportunity to immediately focus on generating this additional value with a tenant demand capable of paying for and desiring these post-renovated units.
Proven Value-Add Program
Proximate to West Knoxville’s Premier Retail & Employment Hub
Situated in Knoxville’s Strongest Submarket for Multi-Family