Ownership has updated the majority of units within the last four years to include new carpeting, upgraded plumbing fixtures, hard surface countertops, and a recently replaced roof.

The Carlyle features professionally landscaped central courtyard, fresh exterior paint and siding, and new ABS drain lines throughout the property’s crawl space; ownership has invested over $115,000 in capital improvements to revitalize the property.

Investors can capture further value by renovating the remaining three units and increasing rents to market rate—a 10.4% increase; additionally, there are 25 units of on-site storage that provide that opportunity to generate incremental income in the future.

The property maintains a near-zero delinquency rate and delivers strong in-place cash flow at a 5.83% cap rate.

The Carlyle sits in an established residential neighborhood with convenient access to schools including Liberty Christian School, retail centers, and recreational facilities, attracting both professionals and families.

Richland offers a favorable regulatory climate for apartment owners, supported by continued population and job growth in retail, education, and engineering sectors.

The Carlyle attracts young professionals, engineers, students, and families drawn to major employment centers, local schools, outdoor recreation, and pet-friendly living.

The Carlyle is being offered individually or as part of a three-property portfolio including a land development site totaling 57 units priced at $9,300,000.