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West Oak Apartments 366-370 W Oak Ave

34 Unit Block of Flats For Sale Wake Forest, NC 27587

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Investment Highlights

Significant Recent CapEx Investments.
Convenient Access to the Heart of Wake Forest and Raleigh.

Completing the Proven Value-Add Program.
Proximity to Class-A Retail.

Executive Summary

Capstone is pleased to present West Oak Apartments, a 1986 vintage, 34-unit apartment community in Wake Forest, North Carolina. West Oak is conveniently located roughly 20-minutes north of Raleigh in the burgeoning Wake Forest suburb, offering residents a quieter, more affordable cost of living, while still enjoying all that Raleigh has to offer. The property is comprised of all 2 BR / 2 BA private entry units, has been exceptionally well-maintained by current ownership with roughly $1.25M invested in CapEx, and offers new investors a proven value-add opportunity to complete. West Oak currently features 30 units with a luxury interior renovation package with proven premiums up to $175 over classic units, paving the way for the next owner to finish the renovation program, push rents even further based on local competitors, and achieve significant NOI increases. With a prime location surrounded by class-A retail, a short commute to the heart of Raleigh, and a proven value-add program to build upon, West Oak Apartments offers investors a premier investment opportunity in one of the fastest growing markets in the Carolina’s.

Property Facts

Sale Type	Investment	Lot Size	4.00 AC
No. Units	34	Building Size	28,900 SF
Property Type	Residential	Average Occupancy	100%
Property Subtype	Apartment	Number of Floors	1
Apartment Style	Garden	Year Built	1986
Building Class	B	Parking Ratio	2.11/1,000 SF

Sale Type	Investment
No. Units	34
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Garden
Building Class	B
Lot Size	4.00 AC
Building Size	28,900 SF
Average Occupancy	100%
Number of Floors	1
Year Built	1986
Parking Ratio	2.11/1,000 SF