Description

JLL is to present The Oasis Apartments, a fully renovated 2023 asset offering immediate positive cash flow with minimal future capital requirements. The Property is strategically positioned on high-traffic Beville Road (32,000 AADT) with exceptional access to over 10,000 jobs at major employers including Halifax Health, Embry-Riddle, NASCAR, Amazon's robotics center, and Boeing's engineering hub. The unit mix aligns perfectly with local demand—serving a 3-mile radius where 75% of renting households are 1-2 person formations facing a 700-unit supply deficit—while current rents sit $60 below comparable properties on average and nearly $200 below top competitors, creating substantial upside potential in a market with favorable supply-demand dynamics and limited new construction.

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Attributes

Number of units

119

Year built

1984

Building area gross

646,857 sf

Media

Investment Highlights

Fully repositioned in 2023 with quality renovations provides immediate positive cash flow while minimizing ongoing CapEx requirements.
Prime location along Beville Road, one of the area’s most heavily trafficked corridors with an AADT of +/- 32,000.
Tremendous access to some of the area’s top employment centers and access to 10,000+ jobs within minutes - Halifax Health (4,050 employees), Embry-Riddle (1,500 employees), NASCAR (1,000 employees), Amazon's 2.8M SF robotics center (1,000 jobs), and Boeing's new engineering hub (400 high-paying jobs).
Unit mix suited to serve the immediate area’s demographics and demand. Within a 3-mile radius of the Property, 75% of renting households are 1-2 person formations with a supply deficit of 700 units.
Favorable supply-demand dynamics with significantly less construction than comparable Sunbelt markets, supporting stable occupancies and rent growth.
Current rents $60 below comparable properties on average, with a nearly $200 gap to the top end of the comp set.