Brookside

Brookside Apartments presents investors with a well located asset ripe for additional renovations to further enhance the property. The asset's location between Raleigh's premier business districts, Downtown and North Hills, as well as its location next to two of Raleigh's best neighborhoods, Mordecai and Oakwood, provide strong demographics and a central location for jobs. Furthermore, resident demographics can be enhanced shortly with a deed restriction requiring 15% of units to be offered to voucher tenancy expiring next year.

The asset provides phenomenal renovation potential with 9 classic units and 26 prior owner renovations able to achieve $200+ monthly rent premiums when compared to renovated units. Ownership has also spent nearly $500,000 on deferred maintenance items, leaving the asset in great condition and allowing the next owner to focus on revenue driving enhancements. The strong surrounding demographics and locational benefits to Brookside will see these renovated units quickly leased by the strong surrounding demographics.