The Sylvan
A 136 Unit Multifamily property located in Nashville, TN.
Deal Highlights
Status
Active
Size
136 Units
Location
Nashville, TN
Property Type
Multifamily
Investment Summary
OakPoint purchased The Sylvan, a 136-unit, 1988-vintage garden-style apartment complex in September 2018. Nestled along the rapidly changing and retail-dense Charlotte Pike/Sylvan Park corridor within the West Nashville submarket, the asset benefits from its comparative affordability to both West Nashville new construction and West End / Downtown luxury product. Despite its steep discount to nearby Class A properties, OakPoint purchased the asset with many of the same high-end finishes provided by more expensive competitors, including tile backsplashes, granite countertops, and stainless-steel appliances. However, the branding and exterior finishes did not live up to the interiors. OakPoint is currently rebranding the property, revamping the amenities, and generally repositioning the asset to target budget-minded young professionals that want to live in a hip, but affordable property in the highly desirable Sylvan Park neighborhood.