WOODLAND GARDENS

337 UNITS | BUILT 1967

4805 Woodland Ave | Royal Oak, MI

Executive Summary 

Woodland Gardens Apartments offers the opportunity to acquire a large, well-located multifamily community in Royal Oak, one of Oakland County’s most established and supply-constrained suburban rental markets. The Property combines scale, broad renter appeal, and an attainable price point within a submarket defined by strong occupancy, affluent surrounding demographics, and a meaningful affordability advantage relative to homeownership. Positioned in a highly accessible pocket of Royal Oak near major employment nodes, shopping corridors, and regional commuter routes, Woodland Gardens is well placed to serve a deep and diverse renter base.

The Royal Oak / Oak Park apartment submarket tells a compelling story. As of Q2 2026, the submarket reported 97.3% average occupancy and $1,431 average effective rent. While effective rent was down 1.0% year over year, it remained up 20.2% over the last five years, with year-end 2026 rent projected to reach $1,437, reflecting continued long-term pricing strength. Occupancy remains especially notable, sitting well above the five-year annual average of 96.0%, which underscores the durability of renter demand in this location.

That backdrop is particularly meaningful for Woodland Gardens, where the appeal is rooted in affordability, functionality, and access to one of metro Detroit’s most desirable inner-ring suburban markets. The economics of renting remain favorable compared to ownership in the submarket, with average monthly mortgage payments estimated at approximately $2,457 versus $1,431 in average effective rent, creating a monthly affordability spread of roughly $1,026. Combined with limited new supply and a strong local income profile, Woodland Gardens is well positioned within a market where value-conscious renters continue to prioritize flexibility, access, and attainable monthly housing costs.

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  • Property NameWoodland Gardens 
  • Address4805 Woodland Ave | Royal Oak, MI 
  • Units 337
  • Built 1967 
  • Buildings11 
  • Stories3
  • Site Size / Acreage:14.02 Acres 
  • Density: 24.04 Units / Acre 
  • SF:242,365 SF 
  • Average SF: 719 SF 
  • Total Parking:488 spaces 

Investment Highlights

Amenities

  • Air Conditioning
  • Renovated Units
  • Stainless Steel Appliances
  • Fully Equipped Kitchen
  • Updated Cabinetry
  • Luxury Vinyl-Plank Flooring
  • Luxurious Bathrooms
  • Onsite Laundry Facilities
  • Swimming Pool
  • Clubhouse
  • 24-Hour Fitness Center
  • Business Center

The Asset 

Woodland Gardens is a large-scale garden-style apartment community in Royal Oak comprising 337 apartment homes and offering a mix of studio, one-bedroom, and two-bedroom residences. Current public leasing information indicates floor plans ranging from approximately 455 to 800 square feet, including a 455-square-foot studio, 645- and 695-square-foot one-bedroom layouts, and an 800-square-foot two-bedroom / one-bath layout. Third-party property data identifies the community as being built in 1969. 

The Property’s appeal is grounded in practical livability and a resident-friendly amenity package. Current leasing sources highlight renovated kitchens, wood flooring, spacious bedrooms, a community clubhouse, onsite fitness center, swimming pool, and pet-friendly policies, supporting a community profile that is both accessible and competitive within the submarket. Public rental listings also show asking rents generally from $1,020 to $1,355, reinforcing Woodland Gardens’ attainable positioning within a higher-income market. 

Property Description 

Woodland Gardens Apartments is a large-scale garden-style community that offers a practical and approachable residential experience in one of metro Detroit’s most established suburban markets. The Property includes a mix of studio, one-bedroom, and two-bedroom floor plans, allowing it to appeal to a broad renter base that ranges from single professionals and first-time renters to couples and smaller households seeking additional space. Current public leasing information shows floor plans ranging from approximately 455 square feet to 800 square feet, giving the community a versatile unit mix at accessible monthly price points. 

Inside the apartment homes, Woodland Gardens is positioned around everyday functionality and selective interior improvement. Current leasing materials highlight renovated kitchens, wood flooring, and spacious bedrooms, all of which help the homes compete effectively in a market where renters value comfort, simplicity, and affordability. Rather than leaning on a luxury positioning, the Property appears to offer a more grounded value proposition centered on usable layouts and practical finishes, which aligns well with the broader demand profile in the Royal Oak / Oak Park submarket. 

At the community level, Woodland Gardens offers a resident amenity package that supports convenience and day-to-day livability. Public sources highlight a clubhouse, onsite fitness center, swimming pool, and pet-friendly environment, helping the Property function as more than just a collection of apartment units. These features complement the Property’s large scale and suburban setting while supporting leasing competitiveness within a renter segment that values both affordability and quality of life. 

Just as important, the Property’s physical offering aligns well with the market conditions around it. Woodland Gardens sits in a submarket defined by high occupancy, limited new supply, strong household incomes, and a significant affordability advantage for renters relative to homeowners. That combination gives the community a strong position within the Royal Oak multifamily landscape and supports continued appeal among residents seeking access, value, and a well-established location.

Market Overview 

Woodland Gardens is located in Royal Oak, a highly regarded Oakland County suburb known for its central location, strong household incomes, and established residential character. The Property benefits from access to one of the strongest demographic profiles in the broader metro area. Within the three-mile target market area, population is projected to grow 3.4% over the next five years to approximately 121,173 residents, median household income is projected to increase 21.7% to approximately $129,921 by 2031, and 53% of households earn more than $100,000 annually. These trends support both renter quality and long-term demand for well-located multifamily housing.

The local workforce profile adds another layer to the story. Within the same three-mile area, there are approximately 7,144 workplace establishments and 96,435 full-time equivalent employees. The market also skews toward a highly educated and professional resident base, with 81% of employees in white-collar positions and 62% of residents age 25 and older holding a bachelor’s degree or higher. That level of income and educational attainment helps distinguish Royal Oak from many competing submarkets and reinforces the area’s long-term residential appeal.

From an apartment market standpoint, the fundamentals remain highly supportive. The Royal Oak / Oak Park submarket totaled approximately 13,735 units as of Q2 2026 and continues to benefit from limited new competitive supply, with no new units delivered in 2025 and only 36 units projected to come online in 2026. Occupancy remains elevated at 97.3%, while leasing activity has stayed constructive, with 96 net move-ins in the first half of 2026 and 49 net move-ins projected for full-year 2026. In a market with high barriers to entry and strong homeownership costs, that supply-demand balance continues to support existing apartment communities.

The surrounding employment base is both deep and diversified. Woodland Gardens is within reach of major regional employers across healthcare, finance, automotive, logistics, and professional services. Nearby examples include Corewell Health William Beaumont University Hospital in Royal Oak, Credit Acceptance, Lear Corporation, DENSO, Lipari Foods, and the broader Downtown Detroit employment base. This access to multiple employment centers helps support a broad renter profile and reduces dependence on any single demand driver.

LOCATION

contact us

Detroit Office 
260 East Brown Street, STE 150 
Birmingham, MI 48009 
Phone: 248.646.7701 
Berkadia.com

Investment Sales

Kevin P. Dillon 
Senior Managing Director 
248.341.3309 
[email protected]

Jason Krug 
Senior Managing Director 
248.341.3344 
[email protected]

Corey Krug
Senior Director
248.341.3338
[email protected]

Rick Brace 
Senior Director 
248.341.3319 
[email protected] 

Conor David 
Director 
614.796.0222 
[email protected] 

EJ Wujek 
Associate Director 
248.341.3316 
[email protected] 

Mortgage Banking

Peter Benedetto 
Senior Managing Director 
248.208.3462 
[email protected] 

Jillian Maki 
Director 
248.208.3465 
[email protected] 

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WOODLAND GARDENS

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