1810-1824 S Perkins Rd
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1810-1824 S Perkins Rd
14 Unit Apartment Building $699,900 ($49,993/Unit) 8.57% Cap Rate Stillwater, OK 74074
Investment Highlights
- Highly occupied, great starting point for Cap ex program
- Possible short term owner finance with 25% down
- Possible PUD conversion
Executive Summary
Highly occupied , value add asset with great upside for a local operator who can implement Capex and operational efficiencies. Unit mix is as follows: (8) 2/1 apartments, (4) 1/1 apartments and (2) SFRs all on one lot. Likely PUD conversion per the city.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$114,000
|
$12.69
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$114,000
|
$12.69
|
| Taxes |
$8,500
|
$0.95
|
| Operating Expenses |
$45,500
|
$5.07
|
| Total Expenses |
$54,000
|
$6.01
|
| Net Operating Income |
$60,000
|
$6.68
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $114,000 |
| Annual Per SF | $12.69 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $114,000 |
| Annual Per SF | $12.69 |
| Taxes | |
|---|---|
| Annual | $8,500 |
| Annual Per SF | $0.95 |
| Operating Expenses | |
|---|---|
| Annual | $45,500 |
| Annual Per SF | $5.07 |
| Total Expenses | |
|---|---|
| Annual | $54,000 |
| Annual Per SF | $6.01 |
| Net Operating Income | |
|---|---|
| Annual | $60,000 |
| Annual Per SF | $6.68 |
Property Facts
| Price | $699,900 | Building Class | C |
| Price Per Unit | $49,993 | Lot Size | 0.95 AC |
| Sale Type | Investment | Building Size | 8,980 SF |
| Cap Rate | 8.57% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $699,900 |
| Price Per Unit | $49,993 |
| Sale Type | Investment |
| Cap Rate | 8.57% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 8,980 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1951 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | 600 - 850 |
| 2+2 | 1 | - | 1,100 |
| 1+1 | 4 | - | - |
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1810-1824 S Perkins Rd
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