401 PINCHBACK ROAD BEAUMONT, TX 77707
The Oakwood Apartments, is a two story, garden-style, brick apartment community located in the West End area of Beaumont, Texas. The asset was built in 1983. Resident amenities include: mini-blinds, kitchen pantries, ceiling fans, patios and balconies.
The asset includes an additional 1 acre of land in the back that is zoned and has been approved by The City of Beaumont Zoning Ordinance for multi-family use for up to 26 units! Per owner, roofs were replaced in 2015. Capital Expenditures included installing hardie board on exterior $48,000, installing new roofs $75,000 and refreshing interiors $25,000. Owner has updated two or three units and cleaned up the other ones. On a recent site visit, the property showed very well. One unit is given rent free to the manager in return for management and minor maintenance requests.
Currently there are no reported leasing concessions.
Tom Wilkinson has performed real estate marketing serves for institutional and individual investors since 1972. He has a BA in Mathematics from Rice University and an MBA in Real Estate Investments from the University of Texas. In addition to brokering real estate, Tom previously owned and operated more than 80 properties. Tom has successfully marketed properties for and to dozens of individual, business and institutional sellers and buyers, including REO properties for the RTC, FNMA and FreddieMac.