Sold March 2020
Ocean Oaks is a 296-unit Class B apartment community in Port Orange, Florida, a part of the greater coastal metro of Daytona Beach. Located one block off Interstate 95 at Dunlawton Avenue, the property provides residents with immediate access to excellent schools, a large concentration of employers, and Daytona International Airport. The asset is close to numerous shopping, dining, and entertainment venues, including the Pavilion at Port Orange and the Daytona Speedway. Community features include a clubhouse, two swimming pools, state-of-the-art fitness facilities, a self-service car wash, a lighted sport court, a business center, pet care stations, a dog park, and 15 acres of grounds with a sprinkler system and 24-hour maintenance service.
The Ocean Oaks development was completed in 1986 and includes apartment homes from 733 square foot one-bedroom floor plans to 1056 square foot two-bedroom, two-bath floor plans. Apartment home features include energy-efficient black appliance packages, a washer-dryer, screened balconies and patios, wood-look flooring, ceramic kitchen/bath tile (in select units), and walk-in closets.
ApexOne Growth and Income Fund II purchased Ocean Oaks and will hold long-term to capture growth and appreciation.