About Oaks at Northgate & Leon Court
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 386-unit Oaks at Northgate and Leon Court apartment community in the Durham, NC MSA. Recently renovated in 2016 /2017, the property is located in a rapidly expanding jobs market that will outpace multifamily supply by a 14:1 ratio (in 2019); and is also in close proximity to key employers, retail centers, and thriving Downtown Durham (2 miles). The property’s immediate submarket zone boasts immense pricing velocity for recent single family and multifamily trades that currently sit above the broader submarket average 6% and 26%, respectively. New ownership has the opportunity to capture a potential 82% boost to NOI through a proven, multi-pronged value-add program. The $1 Million recently spent on exterior improvements offers investors a jump-start to realize this prospective NOI jolt within a shorter time-frame.