Park Place Apartments | 620 Park Rd
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Park Place Apartments 620 Park Rd
30 Unit Apartment Building For Sale Woodward, OK 73801
Investment Highlights
- Majority Two Bedroom Units
- On-Site Laundry Facility
- 2.61 Total Acres with Value Add Potential
- Seller Reported New Roofs in 2021
- Stable West Oklahoma Market
Executive Summary
Marcus & Millichap is pleased to present the listing of Park Place Apartments located in Woodward, Oklahoma. The property consists of eight one-bedroom one-bathroom units and twenty two-bedroom one-bathroom units totaling to twenty eight units with ±21,440 rentable square feet. A common area amenity is a laundry facility on site for the tenants. The owner pays for the water and trash utility while the tenants are responsible for their electricity. This property has seen historically high occupancy and is in a stable market. The seller has reported brand new roofs in 2021 on all buildings at the property and updates to the sewer system equipped with PVC pipes. With this value-add property, a new owner can raise rents through implementing a unit upgrade plan and utility bill back program to increase net operating income.
Property Facts
| Sale Type | Investment | Lot Size | 2.62 AC |
| No. Units | 30 | Building Size | 14,257 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1962 |
| Apartment Style | Garden | Parking Ratio | 3.93/1,000 SF |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.62 AC |
| Building Size | 14,257 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 3.93/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | - | 680 |
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PROPERTY TAXES
| Parcel Number | 0410-31-23N-20W-3-311-00 | Improvements Assessment | $111,307 |
| Land Assessment | $4,193 | Total Assessment | $115,500 |
PROPERTY TAXES
Parcel Number
0410-31-23N-20W-3-311-00
Land Assessment
$4,193
Improvements Assessment
$111,307
Total Assessment
$115,500
zoning
| Zoning Code | UC |
| UC |
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Park Place Apartments | 620 Park Rd
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