Overview
Deaton is pleased to present, as exclusive advisor to the seller, Channing Apartment Homes, a 273-unit, garden-style multifamily community located in Fayetteville, North Carolina.
Channing represents a compelling opportunity to acquire an institutional-scale, value-add asset with in-place cash flow and clear, near-term NOI growth potential. The Property features a mix of one- and two-bedroom floorplans, well-suited to Fayetteville’s strong workforce housing demand and providing attainable rental options to a broad and durable tenant base.
Ownership has invested over $3 million in capital improvements over the past several years, including new roofs, significant interior renovations, and upgrades to common area amenities and the clubhouse. The community offers a full suite of amenities, including a swimming pool, fitness center, clubhouse, outdoor gathering areas, and pet-friendly features.
Strategically located with proximity to Cape Fear Valley Medical Center, Fort Bragg, and major retail and employment corridors, the Property benefits from strong demand drivers and favorable market fundamentals, including a limited new supply pipeline.
Channing Apartment Homes offers investors the opportunity to acquire a well-located, institutional-quality asset with proven cash flow, embedded value-add, and durable long-term demand drivers in one of North Carolina’s most stable workforce housing markets.
Investment Highlights
· Over $3 million in capital improvements completed since 2022: new roofs, renovated amenities, an upgraded clubhouse, and approximately 50% of unit interiors renovated.
· Attractive in-place yield with immediate operational upside, continued organic rent growth and potential value-add upside.
· Recently implemented smart-home and bulk internet package provides additional revenue as leases roll, with modern unit features including smart locks and thermostats.
· Strong Fayetteville market fundamentals anchored by major demand drivers including Fort Bragg and Cape Fear Valley Medical Center, offering long-term stability and downside protection.
· Institutional-scale community (273 units) offering operational efficiencies across a low-density layout, with two-story buildings and spacious grounds.
· Well-located asset in close proximity to major employment and healthcare centers, including walkable access to Cape Fear Valley Medical Center and multiple retail centers.
· Proven renter demand supported by desirable 1- and 2-bedroom floor plans (680–850 SF) with updated finishes, private patios/balconies, and strong amenity package including pool, fitness center, and pet park.
Unit Mix
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