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Value Add Multifamily - Reduced Price

Listing was updated on: 05/30/2020
Value Add Multifamily - Reduced Price Value Add Multifamily - Reduced Price Value Add Multifamily - Reduced Price Value Add Multifamily - Reduced Price Value Add Multifamily - Reduced Price Value Add Multifamily - Reduced Price Value Add Multifamily - Reduced Price Value Add Multifamily - Reduced Price

Property Overview

Price/Rent PSF $ 575,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 12,000
Date Available 05/30/2020
Additional URL Link
Floors 2
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Description

Location
The property is located in Northwest Oklahoma City near the Windsor Area Neighborhood. It is also near Warr Acres and is located within the desirable Putnam City School District. West Pointe Apartments is just blocks from Highway 66/39th Street Expressway. It is also near Interstate 44, Interstate 40 and the Hefner Parkway providing easy access to all parts of Oklahoma City. Major City parks, including Dolese Park, Will Rogers Park, and Eldon Lyon Park, are all within a few miles from the property. Major nearby employers include the Integris Medical Center, major retailers along both I-240 and the 39th Street Expressway.

Sale
Price Edwards and Company is pleased to present the West Pointe Apartments for sale. The West Pointe Apartments are a 20 unit property contained in one two-story building. Constructed from concrete blocks, the building is sturdy, with a low maintenance exterior. The property was remodeled in 2017 with updates that included new windows, paint, updated interiors, new cabinets, counters, appliances and flooring. The roof is a TPO membrane roof that is approximately 6 years old. The property does have some deferred maintenance and some units require some work to bring them to rent-ready standards. Occupancy has suffered on the property with previous poor management. New management is making headway with gains in rents and leasing activity, so this is an opportunity for a new owner to continue that trend and ultimately own a property with a return well above the market average.

Location

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