Sweetwater Capital is proud to present the opportunity to acquire Carolina Pines Apartments, a 71-unit, strategically located multifamily property in the heart of Fayetteville, North Carolina. Situated near prominent retail centers, diverse dining options, and lush parks, the property offers a compelling combination of lifestyle convenience and community appeal. Furthermore, proximity to major economic drivers such as Fort Liberty, Cape Fear Valley Health System, and Cumberland County Schools ensures a stable and robust tenant demand.
Carolina Pines has undergone a significant transformation over the last three years, with approximately $1,000,000 invested in comprehensive capital improvements. These upgrades include modernized unit interiors designed to compete with and exceed local market standards, enhanced common areas and exterior facades, creating an inviting community aesthetic, and upgraded amenities that improve tenant satisfaction and retention.
The renovation strategy has already yielded remarkable results, with rental rates increasing by 60% since the modernization efforts began. Despite this growth, substantial upside remains: rents can be further increased by an average of $70 per unit, based on current market data and recent leases achieved. This represents an estimated annual revenue uplift of $60,000, providing immediate value-add potential for new ownership.
Fayetteville’s robust economy, driven by a combination of military, healthcare, and educational employment hubs, underpins strong demand for quality housing like Carolina Pines. The property’s central location and extensive improvements position it as a highly competitive asset within the submarket. Carolina Pines represents an exceptional investment opportunity in a growing and resilient market, whether as a stabilized cash-flowing asset or a platform for additional value creation.