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Description

Capstone Apartment Partners is pleased to present The
Village at Hermitage, a 78-unit apartment community
in Hermitage, Tennessee. The Village at Hermitage is conveniently located along
Lebanon Pike, a highly trafficked thoroughfare with immediate access to
multiple retail and employment hubs. The current owner has implemented a
value-add program that is targeting unit interiors after recently completing
exterior improvements. The in-place improvement program has demonstrated the
demand for upgraded product, as fully renovated units are achieving in-place rent
premiums of $350. With the ability to further push rents via amenity and office
relocation improvements, the Village at Hermitage presents an exciting
opportunity to purchase a quality asset. This allows new ownership to
immediately focus on continuing the interior value-add initiative and pushing
rents.

Investment Highlights:

In-Place Assumable Financing at 3.5%

Proven Value-Add Upside

Ability to Add 1-2 Buildings Via Rezoning, Per Planning

HOA Control

  • Address 4238 Lebanon Pike
  • City Hermitage
  • State/county Tennessee
  • Zip/Postal Code 37076

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