Osprey Cove South

Capstone is pleased to present Osprey Cove South, a 228-unit, 1970 vintage property located in Jacksonville, NC. Osprey Cove South presents investors with an exceedingly rare opportunity to complete and expand upon the in-place value-add program currently recognizing substantial premiums of $225+ over classic units. The property has been very well maintained, as current ownership has invested roughly $2M in capital expenditures since acquisition. Osprey Cove South is conveniently located to major economic drivers responsible for thousands of jobs in the area and is a short commute to major retail corridors. With minimal deferred maintenance, a proven value-add program with over 85% of the units left to renovate, and an excellent location, Osprey Cove South offers investors a prime value-add opportunity poised for significant rent growth.

Investment Highlights:

Well Positioned Asset with Significant CapEx Invested to Date

Optimal Value-Add Scenario with 85%+ of Units Left to Renovate

Sizable Rent Growth Opportunity as Market Rents Trail Local Competitors

Proximity to Top Employers and Major Retail