Oaklawn Apartments | 6401 NW Oak Ave
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Oaklawn Apartments 6401 NW Oak Ave
25 Unit Apartment Building For Sale Lawton, OK 73505
Investment Highlights
- Value-add opportunity
- Below market rents
- Strong cash flow with upside potential
- 100% Occupied
Executive Summary
Oaklawn Apartments (the “Property”) is a 25-unit, multifamily property located in Lawton, OK. Built in 1979, this garden style community consists of four two-story buildings and serves as a value-add opportunity for potential investors.
This property has an average unit size of 646sf with the majority of the units offering one-bed/one-bath. As of June, the property is 100% occupied with roughly 70% of the tenants being on month-to-month leases and an average rental rate of $451/month – Which is well below market. Additionally, the owner is currently paying for all utilities, outside of electricity, rather than billing back tenants for usage.
Given the structure of the MTM leases, utility recovery, and considerable rental upside, this opportunity allows for investors to step in and increase income at the property immediately.
This property has an average unit size of 646sf with the majority of the units offering one-bed/one-bath. As of June, the property is 100% occupied with roughly 70% of the tenants being on month-to-month leases and an average rental rate of $451/month – Which is well below market. Additionally, the owner is currently paying for all utilities, outside of electricity, rather than billing back tenants for usage.
Given the structure of the MTM leases, utility recovery, and considerable rental upside, this opportunity allows for investors to step in and increase income at the property immediately.
Property Facts
| Sale Type | Investment | Lot Size | 0.81 AC |
| No. Units | 25 | Building Size | 16,155 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low Rise | Year Built | 1979 |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.81 AC |
| Building Size | 16,155 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
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Walk Score ®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 0045079 | Improvements Assessment | $33,243 |
| Land Assessment | $23,326 | Total Assessment | $56,569 |
PROPERTY TAXES
Parcel Number
0045079
Land Assessment
$23,326
Improvements Assessment
$33,243
Total Assessment
$56,569
Contacts
-
Luke Cashman -
Mart Martindale -
Wilson Stafford -
Claire Schmeltekopf -
EDGE Realty Capital Markets
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Oaklawn Apartments | 6401 NW Oak Ave
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