Flats on 7th

About Flats on 7th

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 136-unit Flats on 7th apartment community located in Raleigh, North Carolina’s burgeoning suburb of Garner. The property is surrounded by premier retailers and major thoroughfares, providing access to nearby employment hubs and a surging downtown. A recent $3.8 million capital infusion has prompted strong operational momentum and distinguished the asset as the foremost property of its vintage in the submarket. A lack of new supply, a rapidly expanding population, and the second highest occupancy levels across the market have created ideal rent growth conditions. Built in 1982 and renovated in 2018, Flats on 7th represents an outstanding investment opportunity for new ownership to capture $20,000 in immediate organic rent growth as old leases turn, while also capturing the projected 10% rent growth in the submarket over the next 3 years.