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Oakwood Apartments
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EASTWOOD Apartments
Eastwood Apartments
1011 S James St. | Jacksonville, AR 72076
1310 Smithwick Dr. | Jacksonville, AR 72076
OAKWOOD Apartments
Highlights
Berkadia is pleased to present the exclusive opportunity to acquire Eastwood Apartments, a stabilized, garden-style asset composed of 96 two-bedroom units across 12 masonry-constructed, two-story buildings, just 15 miles northeast of Downtown Little Rock, Arkansas.
Eastwood Apartments, a stabilized asset offered at an attractive price-per-unit basis, presents a new investor with several value-generating advantages. Built in 1977 and renovated in 2018, the property consists of all two-bedroom units—the most sought-after floor plan for multifamily renters—with a generous average size of 858 square feet. At an effective rent of $613, the units boast a proven value-add strategy, achieving $100 rent premiums through cosmetic upgrades.
The property’s excellent location, just minutes from Downtown Little Rock—the commercial and social hub of the MSA with more than 750,000 residents—plus proximity to the Little Rock Air Force Base, home to approximately 7,000 active-duty service members, provides new ownership with a consistent supply of qualified renters.
Eastwood Apartments is being delivered free and clear of debt.
The Opportunity
The Property
With 96 two-bedroom floor plans in 12 masonry-constructed buildings on approximately 4.5 acres of tranquil, wooded landscape with beautiful mature-growth trees, Eastwood Apartments offer residents an expansive average unit size of 870 square feet of living space and plenty of cherished amenities.
This pet-friendly community features a pool, on-site laundry facility, and on-site property manager. The convenient location near the Little Rock Air Force Base, medical centers, schools, and recreation—not to mention vibrant Downtown Jacksonville just minutes away—offers residents a quick commute to work, play, and a variety of services via nearby access to Interstate 40 and Highway 167.
With an abundance of unit amenities, Eastwood Apartments offers residents a place they’ll be proud to call home. They include a well-equipped kitchen (refrigerator, range, oven, disposal, dishwasher, and microwave in select units), washer/dryer hookups, central heat and A/C, ceiling fans, carpet and tile flooring, linen closet, balcony, high-speed Internet access, and a spacious yard for relaxing, playing, and entertaining.
Considering all the benefits of location, unit mix, proven value-add strategy, free and clear offering, and an abundance of resident-friendly amenities, the Eastwood Apartments provide a new owner with an outstanding investment opportunity for both immediate return and future value appreciation.
• Stabilized asset at an attractive PPU Basis
• Consists of 96 two-bedroom units averaging 858 SF with an effective rent of $613.
• Proven value-add strategy achieving $100 rent premiums through cosmetic upgrades
• Near Downtown Little Rock (750K MSA) and Little Rock Air Force Base (7K +/- active-duty service members)
• Property is being delivered Free and Clear of any debt.
Highlights
The Opportunity
The Property
Eastwood Apartments
OAKwood Apartments
• Immediate scale at an attractive PPU basis
• Fully stabilized, 240-unit asset with historically high occupancy (97%)
• Attractive debt assumption of $10,350,000 at 4.66% with 1 year of I/O remaining
• Value creation opportunity through strategic capital investments in the unit interiors
• 1-, 2-, and 3-bedroom units averaging 870 SF with in-place effective rents of $565, allowing an investor to increase rents $150 per unit on average
• Convenient proximity to Downtown Little Rock (750K-population MSA) and near the Little Rock Air Force Base (7K +/- active-duty service members)
Highlights
The Property
The Opportunity
Highlights
Built in 1972 and renovated in 2017, the 240 units of the Oakwood Apartments are distributed among 11 buildings across 12 acres of lovely, wooded landscape and offer an attractive unit mix of one-, two-, and three-bedroom floor plans with a generous average size of 870 square feet.
This pet-friendly community features a relaxing central courtyard, on-site laundry facility, apartment maintenance, 24-hour surveillance plus night patrol, and a quiet, convenient location near the Little Rock Air Force Base, medical center, schools, and Downtown Jacksonville, a quick commute via nearby Interstate 40 or Highway 167.
Interior amenities include a well-equipped, eat-in kitchen, in-unit washer/dryer or hookups, A/C, walk-in closets, tub/shower, high-speed Internet access, cable-ready, storage units, patio/balcony, and security system.
With an ideal combination of location, unit mix, high occupancy, immediate scale in the Little Rock MSA, attractive debt structure, and value-add opportunity, the Oakwood Apartments present a new investor with a particularly worthwhile portfolio addition.
The Property
Berkadia is pleased to present the exclusive opportunity to acquire Oakwood Apartments, a fully stabilized, 240-unit, garden-style community across 11 well-maintained, two-story buildings boasting historically high occupancy (97%), conveniently located about 20 minutes northeast of Downtown Little Rock, Arkansas.
Oakwood Apartments offers a new investor the unique opportunity to acquire immediate scale at an attractive price-per-unit basis in the vibrant Little Rock MSA. With a growing population of more than 750,000 people including the nearby Little Rock Air Force Base—home to approximately 7,000 active-duty service members—the MSA provides an abundant, viable renter pool.
Lucrative advantages in this acquisition are inherent and plentiful. The asset not only offers an attractive debt assumption of 10,350,000 at 4.66% with one year of interest-only terms remaining, but significant value can also be created through strategic capital investment in the renovation of interior units. The one-, two-, and three-bedroom units with an average size of 870 square feet currently garner in-place effective rents of $565, offering a new investor the additional opportunity to capture an immediate average rent premium of $150 per unit.
The Opportunity
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Investment Sales
Patrick Jordan
Senior Director
901.425.1828
patrick.jordan@berkadia.com
Ben Parrish
Associate Director
901.425.1829
ben.parrish@berkadia.com
Memphis Office
2320 S Germantown Road
2nd Floor
Germantown, TN 38138
Office: 901.425.1828
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Eastwood Apartments
Terms of Use
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CONTACT
Oakwood Apartments
PRIVACY
1310 Smithwick Dr. | Jacksonville, AR 72076
OAKwood Apartments
Eastwood Apartments
Berkadia is pleased to present the exclusive opportunity to acquire Eastwood Apartments, a stabilized, garden-style asset composed of 96 two-bedroom units across 12 masonry-constructed, two-story buildings, just 15 miles northeast of Downtown Little Rock, Arkansas.
Eastwood Apartments, a stabilized asset offered at an attractive price-per-unit basis, presents a new investor with several value-generating advantages. Built in 1977 and renovated in 2018, the property consists of all two-bedroom units—the most sought-after floor plan for multifamily renters—with a generous average size of 858 square feet. At an effective rent of $613, the units boast a proven value-add strategy, achieving $100 rent premiums through cosmetic upgrades.
The property’s excellent location, just minutes from Downtown Little Rock—the commercial and social hub of the MSA with more than 750,000 residents—plus proximity to the Little Rock Air Force Base, home to approximately 7,000 active-duty service members, provides new ownership with a consistent supply of qualified renters.
Eastwood Apartments is being delivered free and clear of debt.
The Opportunity
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Berkadia is pleased to present the exclusive opportunity to acquire Oakwood Apartments, a fully stabilized, 240-unit, garden-style community across 11 well-maintained, two-story buildings boasting historically high occupancy (97%), conveniently located about 20 minutes northeast of Downtown Little Rock, Arkansas.
Oakwood Apartments offers a new investor the unique opportunity to acquire immediate scale at an attractive price-per-unit basis in the vibrant Little Rock MSA. With a growing population of more than 750,000 people including the nearby Little Rock Air Force Base—home to approximately 7,000 active-duty service members—the MSA provides an abundant, viable renter pool.
Lucrative advantages in this acquisition are inherent and plentiful. The asset not only offers an attractive debt assumption of 10,350,000 at 4.66% with one year of interest-only terms remaining, but significant value can also be created through strategic capital investment in the renovation of interior units. The one-, two-, and three-bedroom units with an average size of 870 square feet currently garner in-place effective rents of $565, offering a new investor the additional opportunity to capture an immediate average rent premium of $150 per unit.
The Opportunity
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Oakwood Apartments