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Jax Daily Record Thursday, May 12, 202202:50 PM EST

Eastwood Oaks Apartments sell for $13.5 million

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NAI Hallmark brokered the deal for both the seller and the buyer.
by: Dan Macdonald Staff Writer

NAI Hallmark announced May 12 it brokered the sale of the 104-unit Eastwood Oaks Apartments in Hilliard for $13.5 million.

The property is at 37177 Cody Circle. Hilliard is in Nassau County about 13 miles northwest of Callahan. The per-unit cost is $129,807.

NAI Hallmark Senior Vice President John Rutherford and Vice President Luke McCann brokered the deal for the seller, US Investing Group LLC of Atlantic Beach, and the buyer, Boardwalk Wealth, a Dallas-based privately held real estate investment firm.

“This property represents a great opportunity for the new owner to complete the value-add renovations while continuing to leverage the tremendous historical occupancy and strong demographics in the North Jacksonville submarket,” Rutherford said in the news release.

The apartments, built in 1974, sit on 10.51 acres. They comprise one-, two- and three-bedroom units from 755 to 1,370 square feet. Rents are $1,005 to $1,205 per month, according to apartments.com.

Amenities include a swimming pool, sports court, fitness center, clubhouse and a dog park.

NAI Hallmark is a commercial real estate brokerage and property management company in Jacksonville.

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