Harbor Stone Advisors has executed the sale of Oakland Place Townhomes, a 16-unit townhome rental community located in Columbia. The asset traded for $4,500,000, or $281,250 per unit. Brooks Healy and Justin Verner served as exclusive advisor and agent for seller Oakland Place LLC.
The townhomes each have three bedrooms, three and a half baths and a den. Average rent of $2,080. “Oakland Place was an extremely rare offering due to its age of construction, location, and most notably the overall lack of middle-market, multi-family assets in Howard County,” said Healy. “We saw an incredibly robust market reaction with over 15 achieved offers in a 30-day marketing period. The new owners look to maintain affordability within one of the nation’s best places to live.”