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12204 E County Road 76 - 12204 E County Rd 76, Coyle, OK 73027

217,800 SF Specialty Building Offered at $1,250,000 at a 6% Cap Rate in Coyle, OK 73027

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Investment Highlights

Lake View
Two fully furnished apartments with private keypad entries.

Fully updated and FULLY FURNISHED.
All bedroom suites have a personal bathroom.

Executive Summary

FULLY FURNISHED!!! The Seller's live on the property as their primary residence and rent out the private rooms, small house in back, and garage apartment throughout the year to college students, OSU fans coming into town for games, business events, family reunions, 4th of July, and weddings! The Seller's completed renovations over the course of 5yrs. They were not open during the Pandemic. The potential income could be "$75,000 plus" a year if the property was advertised as a Bed & Breakfast continuously with little to no advertisement. Utilities, WIFI and cable are approximately $6500 a month for the entire compound, including the main home, both apartments and the separate home out back. The cap rate is calculated assuming each room would have a minimum of a 2 night stay per week, per month. Currently, there are bookings scheduled for the upcoming months of 2022, and return client bookings for 2023. The property will be sold fully furnished with updated decor. The location of the Bed & Breakfast is secluded and directly across from Langston Lake, yet only minutes to Langston University and HWY 33, 15 miles to Stillwater and 30 mins to the Okc Metro. This would be a great location to be used for a Children's Home, Company Perk Getaway, College Students, Bed & Breakfast, Wedding Venue or just a home sweet home!

Lovell Updated Residential Property Condition Disclosure Statement (OREC) (version 9)

Miscellaneous
Investigations

Property Facts

Price	$1,250,000	Building Class	B
Price Per SF	$6	Lot Size	5.00 AC
Sale Type	Investment	Building Size	217,800 SF
Cap Rate	6%	No. Stories	2
Sale Conditions	Business Value Included	Year Built/Renovated	1990/2014
Property Type	Specialty	Parking Ratio	0.04/1,000 SF
Property Subtype	Residential Income Multifamily Apartments Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$1,250,000
Price Per SF	$6
Sale Type	Investment
Cap Rate	6%
Sale Conditions	Business Value Included
Property Type	Specialty
Property Subtype	Residential Income Multifamily Apartments Multifamily Dormitory
Building Class	B
Lot Size	5.00 AC
Building Size	217,800 SF
No. Stories	2
Year Built/Renovated	1990/2014
Parking Ratio	0.04/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

Waterfront

About 12204 E County Road 76 , Coyle, OK 73027

COMPLETELY UPDATED and FULLY FURNISHED! Recognized as Ballards by the Lake, this stunning, 5 acre estate with picturesque view of the Langston Lake is both a peaceful residential home, and a business to accommodate overnight stays as a Bed & Breakfast. Upon entering, follow the wood tile floors to the huge living to kitchen to dining complex and onto 6 bedrooms and 6 personal baths. A 2nd dining leads to a covered porch, with automatic screen & connects to the primary suite with bathroom. Also find a 2nd living that can flex as a 7th bedroom! Above the garage, the 2 renovated 662sf garage apartments have their own private entrance. Out back there is a 1024sf newly built home for privacy. Other amenities include 2 screened porches, automated porch screen, built-in generator, 5 air conditioning units. Located only 30 mins to the metro, near Langston University and 20 mins from OSU. It's “SuperHost” reputation can help you continue its successful Bed & Breakfast business.

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