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.
Proven Value-Add Upside
Adjacent Land for Phase II Expansion
Favorable Investment Fundamentals
Robust Submarket Demographics & School System
Oak Ridge Economic Development & Expansion