Oakwood is a high quality community constructed in 2015, offering one- to three-bedroom apartment homes with floor plans of 730 to 1,229 square feet. The transaction includes an assumable, long-term fixed rate HUD loan. 25% of the property units’ rents are subject to affordable restrictions based on the submarket’s median income levels, which pairs with the area’s high demand for quality, workforce housing.
“Oakwood is an off-market deal sourced through a longstanding relationship. We believe this investment offers high risk-adjusted return potential for our investors, and we look forward to adding value for the community’s residents by improving several resident amenities,” said InvestRes CIO, Joe Facchini.
