Indian Oaks Apartments at 6200 Old Harding Highway in Mays Landing — Courtesy: The Kislak Co. Inc.
By Joshua Burd
The longtime owner of a 44-unit apartment and townhome complex in Atlantic County has sold the property for nearly $5.9 million, in a newly announced deal by The Kislak Co. Inc.
According to a news release, Kislak Executive Vice President Joni Sweetwood represented the seller in the transaction in the Mays Landing section of Hamilton Township. She also procured the buyer, Indian Oaks Manor LP, in what marked the first sale of Indian Oaks Apartments in nearly 30 years.
The property, which traded for $5.85 million, is located at 6200 Old Harding Highway. It’s also near Stockton University, shopping and major highways and some 12 miles from Atlantic City International Airport.
“The offering presented an attractive investment opportunity to acquire a well-performing property consisting of mostly townhouses with many recent improvements, upside potential and development potential on 40-plus acres in Atlantic County not far from Atlantic City International Airport,” Sweetwood said.
In announcing the deal, Kislak noted that Indian Oaks Apartments consists of 11 buildings with 44 apartments and townhouses on 40.924 acres. The unit mix includes 10 one-bedroom apartments, six two-bedroom apartments and 28 two-bedroom townhouses, while the property has recent upgrades such as new roofs, HVAC systems, kitchens and appliances.
