Hawthorne Glen at Strickland

About Hawthorne Glen at Strickland

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Hawthorne Glen at Strickland, a niche 156-unit, 2000-built garden apartment community in affluent northwest Raleigh, NC. Located within the I-540 loop, the affluent and predominantly single-family residential neighborhood boasts average HHI’s of $125,000, median home values of $342,000 and is in close proximity to Raleigh’s major employment nodes featuring 70,000 high-paying jobs at employers such as Lenovo, IBM, BASF, Cisco Systems, Oracle, Qualcomm and Lockheed Martin. The property, which features some of the largest average unit sizes in the submarket, includes a fully renovated amenity package and an in-place value-add program obtaining a 24% ROI. In addition, the property is primed to execute a Class A interior renovation with $250 premiums as newer supply is averaging $285 - $446 higher rents.