The Oakwood Terrace Apartments consist of 120 units, originally constructed in 1969. The property is comprised of five, separate two-story rental and four mechanical/maintenance buildings totaling approximately 99,390 (828 avg.) square feet of rental space, all of which is situated on an approximate 5.83 acre-site and considered to be low to medium density at 20.58 units per acre. The property is currently zoned MF-2, Multifamily, City of Everman (legal use). The community offers five spacious floor plans of which over 66% are made up of the preferred two and/or three bedroom configuration.
The quality construction features almost entirely bricked veneer, flat (modified bitumen) with composition shingled mansard roofs (new in 2005, refinished 2013), concrete slab foundations and a concrete parking lot which accommodates 214 open and 6 ADA designated parking spaces. The HVAC is provided by way of a central, chilled water system for each building and a central boiler for heat. The domestic hot water is supplied via five central, low-pressure natural gas fueled boilers. The asset is currently being run as an all bills paid property.
Both water and electrical wiring are reported to be copper. The mineral rights are not to be included in the sale. Common area amenities include a professional leasing office, laundry facilities, 8 washers/8 dryers (owned by property), ceramic tiled flooring, and a recently installed over-sized playground area. The playground and community garden center sit on the former site of building #917, which was destroyed by a fire in January of 2014. Interior amenities feature private balconies (in select units), High Speed Internet Access-AT&T/Charter/Comcast/Time Warner, mini-blinds, simulated wood panel flooring and modern kitchens which include, frost-free refrigerators, double stainless-steel sinks, disposals, and dishwashers. There are no down units and any vacant units are rent ready.