The Flats at 915

Capstone is pleased to present The Flats at 915, a 100-unit, 1970 vintage garden-style apartment community in Sumter, South Carolina. The Flats at 915 presents investors with an interior value-add opportunity that has substantial rental upside supported by local competitors. With almost $800,000 capex recently invested, new ownership can immediately focus on driving NOI through completion of the market-proven interior value-add and implementing substantial rent increases on the next generation of leases. Favorable fundamentals in the Sumter market have resulted in B & C Class rents surpassing 6.5% growth year-over-year, while vacancy sits well below the national average. Additionally, limited new construction in the Sumter market coupled with increasing market fundamentals provides the opportunity for assets such as The Flats at 915 to increase rents markedly. Conveniently located between three major highways, the residents of The Flats at 915 have immediate access to thousands of jobs, an abundance of demand drivers, and multiple retail centers nearby. The value-add opportunity that this community presents, paired with its minimal deferred maintenance and excellent location, presents new ownership with a premier investment opportunity.

Investment Highlights:

Interior Value-Add Opportunity with Substantial Upside

Almost $800,000 CapEx Recently Invested

Diminishing Supply and Rising Rents in Sumter Market

Tax Abatement Strategy Available for Eligible Buyers

Proximity to Thousands of Jobs and Other Demand Drivers

Highly Accessible Location Proximate to Major Retail Centers