8401 Oakton Lane
JLL, as exclusive agent, is pleased to present Ashton Woods, a low density 204-unit value-add garden style rental community located on more than 24 wooded acres in Ellicott City, Maryland.
Built in 1991, Ashton Woods presents investors with the opportunity to make a substantial return by renovating unit interiors and further enhancing the Property’s amenity offerings. Recent upgrades to the Property’s exterior total over $1,000,000 allowing a new investor to focus on interior unit renovations, which can generate monthly potential rent increases of $100-$175, while still remaining a low-cost alternative to nearby Class A communities. Units can be upgraded with wood-plank vinyl flooring throughout the living areas, stainless steel appliances, new cabinets, granite countertops, and new lighting and plumbing fixtures. The renovations have the potential to draw interest from the affluent renter base in the region associated with hospitals, universities, and other major employers. Ashton Woods benefits from a private and peaceful location surrounded by mature trees and natural open space, yet it still remains accessible to major employment markets in Baltimore, Washington, DC and the surrounding suburbs. Residents can also access regional rail via MARC’s Dorsey Station less than 10 minutes away reducing commute time to Washington, DC to approximately 45 minutes. Ashton Woods provides investors the rare opportunity to acquire an institutionally-owned asset with excellent value-add potential in one of the strongest apartment markets in the country.