About this property
Village Chase Apartments is a 36-unit multifamily community located at 2737 Kentberry Avenue in Fayetteville, North Carolina, within the Brookwood submarket. Built in 2010, the property consists of a mix of two-bedroom and three-bedroom units with multiple floor plan configurations, appealing to both families and roommate households. The asset is currently approximately 94% leased, reflecting stable occupancy.
The property is structured as a condominium regime, with ownership controlling 35 of the 36 units, providing operational control while offering a well-defined, smaller-scale investment opportunity.
Village Chase presents investors with the opportunity to acquire a newer-vintage asset where ownership has already made meaningful progress improving operations since acquisition in early 2025. Economic vacancy has improved from approximately 19% on a trailing 12-month basis to 14% on a trailing three-month annualized basis, demonstrating clear positive momentum.
Current average rents are approximately:
• $1,263 for 1,100 SF two-bedroom units
• $1,295 for 1,197 SF two-bedroom units
• $1,384 for 1,318 SF three-bedroom units
Remaining economic vacancy is primarily driven by elevated concession usage rather than weak collections, creating a clear path for revenue growth as leasing incentives are reduced. In addition, current operating expenses remain above market levels, providing a secondary opportunity for NOI growth through expense normalization.
Village Chase Apartments is being offered individually or as part of a three-property Fayetteville portfolio alongside Karen Lake and Rim Creek, providing investors flexibility to acquire either a standalone asset or scale their presence within the Fayetteville market.
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SITE TOURS: April 28th & April 29th
CALL FOR OFFERS: May 13th
Amenities and Features
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