Kislak sells Spring Gardens Apartments in Vineland for $18.35M

The Kislak Co. on Thursday said it helped trade Spring Gardens Apartments, a 130-unit garden apartment complex in Vineland, Cumberland County, for $18.35 million.

Located at 771 South East Ave., Kislak marketed the property on an exclusive basis, with Executive Vice President Joni Sweetwood handling the assignment on behalf of the seller, a longtime client to whom she previously sold other properties in Vineland and elsewhere.

Sweetwood also procured the purchaser. The parties were not disclosed.

“This is a well-maintained and well-performing property with a strong history in a desirable location,” Sweetwood said. “Once we brought it to market, we immediately procured offers from several interested investors and ultimately sold the property for above the asking price, further demonstrating the continued demand for multifamily properties in New Jersey.”

Spring Gardens Apartments is a two-story garden apartment complex with 16 buildings, 64 one-bedroom units and 66 two-bedroom units situated on 13.38 acres. The property offers galley style kitchens, high ceilings, oversized bedrooms, balconies/patios, large walk-in closets, updated kitchens and bathrooms in select units and washer/dryer hookups. The property is conveniently located approximately 45 minutes from Philadelphia, Atlantic City and other southern New Jersey Shore points.