Investment Overview

Pine Ridge Apartments is a 49-unit, garden-style multifamily community located in the scenic Blue Ridge Mountains of Sparta, North Carolina. Built in 1968 and situated on 4.11 acres across six buildings, the property features a diverse unit mix of studios, one-bedroom, two-bedroom, and three-bedroom layouts—appealing to a broad tenant base in this affordable and growing market. The property has recently benefited from substantial capital improvements, including roofs, newly paved parking lots, and a modernized playground—enhancing both functionality and curb appeal while reducing future maintenance needs. Additionally, 16 of the 49 units have been thoughtfully renovated, presenting a clear and proven value-add strategy for new ownership to complete interior upgrades and bring remaining units to market rent. Ideally located just blocks from Sparta’s historic downtown, parks, and local amenities, Pine Ridge Apartments is positioned to attract quality tenants seeking walkability, charm, and convenience in a peaceful mountain setting. As the town continues to grow its tourism, healthcare, and manufacturing base, new ownership stands to benefit from long-term appreciation, rising demand for updated housing, and strong rent fundamentals in a supply-constrained market.