On the Market: This Week’s Most Interesting CRE Listings
- Mar 07, 2016
On the Market is a new department curating the week’s most interesting for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Mallory Bulman, Associate Editor.
50 Stoneview, Lilburn, GA.
Built in 1986, this 236-unit multifamily property is comprised of 14 two- and three-story buildings. The asset is 99 percent occupied and located in the South Gwinnett/Lilburn submarket. Site size is 32.60 acres with 7.24 units per acre. The net rentable area is 247,564. Unit mix includes one-bedroom, one bath to two-bedrooms, two baths. Average asking rent is $796. For more information on this investment property, contact ARA.
Oaks of Ashford, Houston
A value-add workforce housing opportunity with strong in-place yield, this 255-unit apartment property on 8.38 acres was completed in 1985 and boasts 91 percent occupancy. Average unit size is 935 square feet and average effective rent per unit is $805. Slight renovations of the units could secure rental increases between $125-$165. For more information on this investment property, contact Cushman & Wakefield.
Summit & Birch Hill, Farmington, Conn.
Another value-add opportunity, this garden-style community includes 186 units and 13 buildings, for a total of 165,100 square feet over 32.46 acres. Units feature carports and private balconies. The community is located near several transportation routes. For more information on this investment property, contact Institutional Property Advisors.
Camden Parkside, Fullerton, Calif.
Located within the county’s largest upscale retail sector, this 421-unit property offers a value-add opportunity. The 1972-built community is located a few blocks from Cal State Fullerton and three miles from downtown. Camden Parkside offers central air conditioning. For more information on this investment property, contact Moran & Company.
The Lodge, Flagstaff, Ariz.
Completed in 2004, this 252-unit, Class A property features a clubhouse, business center, fitness center, spa and sundeck, billiards lunge, barbeque/picnic area, children’s playground and garages on a select basis. The Lodge includes a mix of one-, two- and three-bedroom units, and units include washers and dryers private patios or balconies, walk-in closets and pantries, ceramic tile flooring, maple wood cabinetry, extra private storage spaces and electric fireplaces in select units. For more information on this investment property, contact Cushman & Wakefield.