Oakwood Court

Oakwood Court is a 1970’s vintage, garden apartment community. Located in Tampa and minutes from major demand drivers, points of interest and major transportation corridors. This 27-unit community is well-positioned for future growth thanks to its secluded, neighborhood feel, but central location in the region providing residents easy access to all that Tampa Bay has to offer. The asset presents investors the opportunity to invest into a stabilized asset with upward growth achievable by strategically improving the exterior amenities package and interior upgrades to increase rents $107/unit/month in addition to getting all of the current residents onto the utility recapture program currently being implemented. Major capital improvements include interior remodels, significant tree removals, replacement of most septic tanks and some roof replacements. Assuming the purchase occurs with the assumable loan in-place an investor can expect to realize an 8%+ cash-on-cash return within 12-months of ownership.

Oakwood Court consists of 27-units situated on 4.16 acres. Built in 1970 of concrete block construction, the community consists of fourteen, single-story buildings with pitched, shingle roofs. Twenty-six of the twenty-seven units are two-bedroom/one-bathroom floorplans averaging 872 square feet with the remaining unit being a one-bedroom/one-bathroom floorplan totaling 540 square feet. Conveniently located in the city of Tampa, tenants are afforded the luxury of peaceful living while being right next to all of the action. Residents are afforded easy access to all of Tampa Bay being less than a mile from Interstate 4, Interstate 75, US-92 and US-301. All of which are crucial arteries connecting all of Florida.