EVP Joni Sweetwood Arranges Exclusive Sale of 44-Unit Property in Atlantic County
Mays Landing, NJ — The Kislak Company, Inc. announced the recent sale of Indian Oaks Apartments, a 44-unit multifamily property at 6200 Old Harding Highway in Mays Landing, Atlantic County, for $5,850,000.
Kislak marketed the property on an exclusive basis on behalf of the longtime owner, Indian Oaks Apartments, LLC, which had owned the property for nearly 30 years. Executive vice president Joni Sweetwood handled the assignment and also procured the purchaser, Indian Oaks Manor, LP.
Sweetwood said, “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.”
Indian Oaks Apartments consist of 11 buildings with 44 apartments and townhouses on 40.924 acres. Tenants are responsible for all utilities except water. The unit mix includes 10 one-bedroom apartments, six two-bedroom apartments and 28 two-bedroom townhouses. The property includes many recent capital improvements – new roofs, HVAC systems, kitchens, and appliances.
Indian Oaks Apartments is located across from Lake Lenape, which offers boating, camping, hiking, and many other recreational activities, in Mays Landing, which is an unincorporated and census-designated place located within Hamilton Township in central Atlantic County. It is near Stockton University, shopping, and major highways and approximately 12 miles from Atlantic City International Airport, 20 miles northwest of Atlantic City and 50 miles southeast of Philadelphia.
Sweetwood joined Kislak in 1996 and is one of the firm’s all-time leading salespeople consistently ranking as a top producer each year. She has won numerous sales awards, including the Sima Kislak Jelin Salesperson of the Year award, the company’s Producer of the Year award five times and the company’s Sales Transactions award for the most closed sales transactions in the last three years. Sweetwood has also been recognized repeatedly as one of New Jersey’s Commercial Broker All Stars and the Mid Atlantic Real Estate Journal’s Executive Women in Business. Her career investment sales total more than $1.3 billion.
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