Oaklawn Place 1500 E Beverly Dr 37 Unit Apartment Building For Sale Corsicana, TX 75110

RECENTLY IMPROVED COURTYARD-STYLE ASSET WITH
REDUCED CAPITAL EXPENDITURES
Oaklawn Place is a 37-unit courtyard-style apartment complex in Corsicana,
TX, constructed in 1963. There is a generous mix of one and two-bedroom floor
plans averaging 623 square feet. Ownership has already completed several
major capital projects, including replacing the roof in 2022 and eliminating
the property’s aging chiller system through the installation of individual
mini-split HVAC systems in 2025. The complex is also serviced by a central
boiler and updated laundry rooms on each floor. These improvements position
new ownership to focus on operational performance rather than addressing
significant deferred maintenance items.
OPERATIONAL UPSIDE THROUGH OCCUPANCY STABILIZATION
AND EXPENSE RECOVERY
Oaklawn Place presents investors with the opportunity to increase revenue
through occupancy stabilization and operational efficiencies. The business
plan is centered on improving existing operations rather than executing a
capital-intensive renovation program, providing a more predictable path toward
NOI growth. The property offers attainable housing within a market where
replacement costs continue to rise, and new multifamily development remains
limited. Oaklawn Place’s floor plans serve the growing workforce housing
segment that continues to drive renter demand throughout secondary Texas
markets. Ownership has successfully implemented a RUBS program that helps
offset utility expenses and improve operational efficiency. Future ownership
can continue leveraging this structure to recover expenses while maintaining
affordability for residents.
STRATEGIC I-45 LOCATION SUPPORTED BY DIVERSE
EMPLOYMENT DRIVERS
Located directly along Interstate 45 between Dallas and Houston, Corsicana
benefits from regional connectivity, expanding industrial investment, and
continued demand for affordable housing options within commuting distance
of major employment centers. Corsicana has evolved into an important
manufacturing and logistics center supporting Texas' economic growth corridor.
Major employers across manufacturing, healthcare, education, distribution,
and aerospace industries provide a diversified employment base that supports
long-term apartment demand. Residents also find access to Lake Halbert
and Richland-Chambers Lake and the neighboring 45-acre Community Park
Asset Snapshot
37
UNITS
623
AVERAGE UNIT SIZE (SF)
83%
OCCUPANCY
1963
YEAR BUILT
attractive for sports and outdoor activities