Capstone Apartment Partners is pleased to present Coffey Creek Apartments: a 1990 vintage, 420-unit, garden-style apartment community located in Charlotte, North Carolina. Coffey Creek is owned by its original developer and has been exceptionally well-maintained since completion, including over $1.68M invested in interior and exterior CapEx over the last 5 years alone. Despite the large amount of capital invested, 97% (408/420) of the units at Coffey Creek are considered unrenovated, allowing new ownership to immediately implement a luxury upgrade package and achieve significant premiums. Located at the corner of South Tryon Street and I-485, the property is surrounded by an abundance of Class A retail/amenities and is within 10 minutes of major employment nodes, most notably the Whitehall Corporate Center, which is diagonal to the subject property. With an excellent location, positive renter demographics in the submarket, and an untouched value-add opportunity, Coffey Creek presents investors an excellent asset poised for rent growth for years to come.
31-Year Ownership History—Owned by the Original Developer
Significant Value-Add Opportunity
Opportunity to Develop an Additional 75-80 Units
Surrounded by Major Employers and New Development
Proximity to Demand Drivers and Major Highways