McCausland Ridge Apartments | 114 Units | Lynchburg, VA
Healthcare-Anchored Value-Add | Proven Renovation Program
Marketing description
Cushman & Wakefield | Thalhimer presents McCausland Ridge Apartments, a 114-unit garden-style community located in Lynchburg, Virginia’s primary healthcare corridor, less than one mile from Centra Health’s 8,000+ employee campus with a $600M+ expansion underway.
Lynchburg is a stable Virginia MSA anchored by healthcare, higher education, and advanced manufacturing, with a diversified employment base that continues to support consistent multifamily demand. Major institutional drivers including Centra Health, Liberty University, and a nationally significant nuclear technology cluster provide long-term economic stability and a reliable renter base.
Ownership has invested over $1.0M in capital improvements since 2023, allowing new ownership to focus on completing interior renovations and operational optimization.
In-place rents average approximately $0.95 PSF, representing an 8%+ loss to lease with additional upside supported by continued unit upgrades and ancillary income opportunities. Adjacent Class A deliveries have reset the local rent ceiling, reinforcing the opportunity to mark rents to market.
The investment offers a compelling basis with a clear, execution-driven path to NOI growth.
Investment highlights
• 114 units | 92% occupancy
• $0.95/SF average in-place rent with ~8% loss to lease
• 73 units renovated (~45 fully upgraded)
• Over $1.0M invested (roof, HVAC, parking/landscape)
• Adjacent to new Class A development
• Centra Health corridor (8,000+ employees | $600M+ investment)
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