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Multifamily

Oak Garden Apartments

400 Garden Ln, Chickasaw, AL 36611

Listing Price: Request For Offer

Number of Units
96

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Oak Garden Apartments, 96 units situated just 10 minutes from downtown Mobile, Alabama. Oak Garden will arrive to market as a best-in-submarket asset, having received over $1.5 million in capital improvements over the past 5 years, including all new windows and 50% of roofs replaced. As the premiere community in the Chickasaw submarket of Mobile, Oak Garden is in high demand and maintains consistent occupancy near 100%. As a result, current ownership has continuously pushed rents, organically, and has yet to hit a ceiling. This stabilized asset offers new ownership the opportunity to take control of a smooth operation while also presenting additional rental upside in the form of continued organic growth and light value-add premiums in the interiors. Oak Garden is a unique opportunity for investors to acquire a stable, cash-flowing asset, at an in-place 6% cap, and trending higher.

Investment Highlights

  • Well-Preserved, Stable Asset Offering Immediate Cash Flow.
  • All Brick Buildings with All New Windows, 50% New Roofs
  • Best-in-Submarket Asset with Constant Leasing Traffic

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
96

Investment Highlights

  • Well-Preserved, Stable Asset Offering Immediate Cash Flow.
  • All Brick Buildings with All New Windows, 50% New Roofs
  • Best-in-Submarket Asset with Constant Leasing Traffic

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Oak Garden Apartments, 96 units situated just 10 minutes from downtown Mobile, Alabama. Oak Garden will arrive to market as a best-in-submarket asset, having received over $1.5 million in capital improvements over the past 5 years, including all new windows and 50% of roofs replaced. As the premiere community in the Chickasaw submarket of Mobile, Oak Garden is in high demand and maintains consistent occupancy near 100%. As a result, current ownership has continuously pushed rents, organically, and has yet to hit a ceiling. This stabilized asset offers new ownership the opportunity to take control of a smooth operation while also presenting additional rental upside in the form of continued organic growth and light value-add premiums in the interiors. Oak Garden is a unique opportunity for investors to acquire a stable, cash-flowing asset, at an in-place 6% cap, and trending higher.

Exclusively Listed By

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