The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 120-unit Park Village apartment community located in Orange Park, Florida. The asset is situated in the desirable Orange Park submarket currently experiencing 10.2% YoY rent growth. Built in 1968, Park Village offers an outstanding value-add opportunity that would result in the ability to raise effective rents $281 and earn a 24% return on investment after implementation of the proposed value-add plan.
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Haven at Reunion, a brand-new apartment home community in Kissimmee, Florida. The 338-unit property consists of three-story garden style buildings with an average unit size of 989 square feet. Developed in 2019, the property consists of a mix of one-, two- and three-bedroom residences with expansive common area amenities and market leading finishes. The location of Haven at Reunion is just minutes from I-4 providing residents with excellent access to the areas’s top employers such as Walt Disney World, Universal Studios, NeoCity, Lake Nona, Darden Restaurants, Lockheed Martin, and AdventHealth.
The Abbey Lane is comprised of 100 one and two bedroom apartment units ranging in size from 839 sf to 1,398 sf. The property offers residents a serene setting amongst a mature wooded area and naturally meandering Coffee Creek. With amenities like a dog park, fitness center, pool, tennis court and playground, Abbey Lane is an idea place for a wide variety of residents.
Over the past 12 months, the property has undergone significant capital projects ($850,000+) including cosmetic interior upgrades to a select number of units, replacement of windows in 33 units, refreshed interior hallways as well as a minor clubhouse renovation and other deferred maintenance items (rebuilding of balconies, bridge reinforcement, etc.). The property is positioned well for the new ownership to purchase a stable, partially renovated property in an attractive location with ample opportunity to create upside.
Minutes from I-94 (to the north) and I-80 (to the south), Abbey Lane is ideally located in the heart of Indiana’s Northwest most affluent county (Porter). Access to Chicago is less than an hour’s drive or a 50-minute commute via the South Shore Line (train).
Stonegate Apartments is a 1992 vintage, fully-sprinklered 260-unit garden-style community situated on 19.3 beautifully landscaped acres with a large picturesque retention pond. The property is comprised of 52 one bedroom units (20%), 124 two bedroom units (48%), and 83 three bedroom units (32%) averaging 1,082 square feet.
Stonegate Apartments features contemporary architectural design that include individual entries, fireplaces (in select units), large balconies or patios, open kitchen/living areas, and spacious bedrooms with walk-in closets in every master bedroom. The community offers a full amenity package which includes a swimming pool with sundeck, tennis courts, a dog park, a community garden, recently built club house with new fitness and business center.