The Oaks

The Oaks

Oak ridge, TN
Under Contract
  • Property Type: Apartments
  • Year Built : 1983
  • Property Size: 50,600 SF / 80 Units

Overview

Capstone Apartment Partners is pleased to present The Oaks, an 80-unit apartment community located in Oak Ridge, Tennessee. Situated in one of the leading submarkets of Knoxville, The Oaks is poised to capitalize on the robust demographics of Oak Ridge and the 15% year-over-year historic rent growth in the submarket. The Oaks is well-positioned as the closest multi-family asset to the Oak Ridge National Laboratory, making the property the ideal living choice for the 5,500+ employees working at the facility. Over the past two years, current ownership has implemented a value-add strategy targeting unit interiors. The value-add initiative has demonstrated the demand for upgraded product as renovated units are achieving average in-place rent premiums of $140. The asset is primed for the next owner to complete interior renovations on the remaining 43 units, and capitalize on the adjacent included 4.4 acre development site.  

Investment Highlights

Proven Value-Add Upside

Adjacent Land for Phase II Expansion

Favorable Investment Fundamentals 

Robust Submarket Demographics & School System

Oak Ridge Economic Development & Expansion

Contact Information

Adam Klenk Managing Director P: 615.861.9906
O: 800.746.3175 ext. 706
adam@capstone-companies.com
Tyler Mayo Senior Advisor P: 662.386.1622
O: 800.746.3175 ext. 729
tyler@capstone-companies.com
Jordan Arand Investment Sales Advisor P: 815.291.9250
O: 800.746.3175 ext. 747
jarand@capstone-companies.com
Austin Heithcock Investment Sales Advisor P: 615.477.1971
O: 800.746.3175 ext. 721
h.austin@capstone-companies.com
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