Investment Overview

Pine Ridge Apartments is a 49-unit, garden-style multifamily community nestled in the scenic Blue Ridge Mountains of Sparta, North Carolina. Built in 1968 and situated on 4.11 acres across six well-maintained buildings, the property offers a diverse unit mix—studios, one-bedroom, two-bedroom, and three-bedroom layouts—designed to appeal to a broad tenant base in this affordable and steadily growing market. The property has recently undergone significant capital improvements that enhance both its functionality and long-term value. Upgrades include new roofs, freshly paved parking lots, and a modernized playground, all of which improve curb appeal and reduce ongoing maintenance costs. In addition, 17 of the 49 units have been thoughtfully renovated with upgraded finishes, providing a clear, proven value-add opportunity for new ownership to complete the remaining interior upgrades and capture market rent potential. Ideally positioned just blocks from Sparta’s charming historic downtown, local parks, and a variety of amenities, Pine Ridge Apartments attracts quality tenants seeking walkability, small-town charm, and the serenity of a mountain setting. As Sparta continues to expand its tourism, healthcare, and manufacturing sectors, the property is well positioned to benefit from long-term appreciation, increasing rental demand, and strong rent fundamentals within this supply-constrained market. Adding to its appeal, Pine Ridge Apartments offers assumable debt at an attractive 4.96%interest rate, providing new ownership with a favorable financing structure in today’s high-rate environment—further enhancing the investment’s immediate cash flow potential.