*** ********* ***, ********, OK
12.44% return
SP:
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Property Description

Amazing opportunity. Turnkey apartment complex. Units have been renovated. Around 75% occupied but will be at 100% soon. 7 buildings. 35 x 2bed/1bath and 32 x 1bed/1bath units. One unit is being used as an office. Swimming pool on premises. On-site management. Tons of potential to increase revenue and decrease expenses. Roof is in great condition. Potential to generate 10-12% net returns on investment. Rents will increase in this market within the next few years. Only $29.8k per unit! Do not miss out!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units67
  • Total bedrooms102
  • Total bathrooms67
  • Building size(unknown)
  • Lot size1.9 acres
  • Year built1971
  • County******** County
  • Subdivision********** *********
  • ConstructionCBS
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingELECTRIC
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $1,999,900
  • Estimated rehab 1 $0
  • Total investment $1,999,900
  • Type Proforma
  • Gross income (annually) $403,800
  • Operating expenses (annually) $154,943
  • Net income (annually) $248,857
  • Gross return 20.19%
  • Gross income (monthly) $33,650
  • Operating expenses (monthly) $12,912
  • Net income (monthly) $20,738
  • Net return 12.44%

Property Income & Expenses

  • Income
  • Building 1
  • Unit A1: 2 bed / 1 bath $550/month $6,600/year
  • Unit A2: 2 bed / 1 bath $550/month $6,600/year
  • Unit A3: 2 bed / 1 bath $550/month $6,600/year
  • Building 2
  • Unit B1: 2 bed / 1 bath $550/month $6,600/year
  • Unit B2: 2 bed / 1 bath $550/month $6,600/year
  • Unit B3: 2 bed / 1 bath $550/month $6,600/year
  • Unit B4: 2 bed / 1 bath $550/month $6,600/year
  • Unit B5: 2 bed / 1 bath $550/month $6,600/year
  • Unit B6: 2 bed / 1 bath $550/month $6,600/year
  • Unit B7: 2 bed / 1 bath $550/month $6,600/year
  • Unit B8: 2 bed / 1 bath $550/month $6,600/year
  • Building 3
  • Unit C1: 1 bed / 1 bath $450/month $5,400/year
  • Unit C10: 1 bed / 1 bath $450/month $5,400/year
  • Unit C11: 1 bed / 1 bath $450/month $5,400/year
  • Unit C12: 1 bed / 1 bath $450/month $5,400/year
  • Unit C13: 1 bed / 1 bath $450/month $5,400/year
  • Unit C14: 1 bed / 1 bath $450/month $5,400/year
  • Unit C15: 1 bed / 1 bath $450/month $5,400/year
  • Unit C16: 1 bed / 1 bath $450/month $5,400/year
  • Unit C2: 1 bed / 1 bath $450/month $5,400/year
  • Unit C3: 1 bed / 1 bath $450/month $5,400/year
  • Unit C4: 1 bed / 1 bath $450/month $5,400/year
  • Unit C5: 1 bed / 1 bath $450/month $5,400/year
  • Unit C6: 1 bed / 1 bath $450/month $5,400/year
  • Unit C7: 1 bed / 1 bath $450/month $5,400/year
  • Unit C8: 1 bed / 1 bath $450/month $5,400/year
  • Unit C9: 1 bed / 1 bath $450/month $5,400/year
  • Building 4
  • Unit D1: 1 bed / 1 bath $450/month $5,400/year
  • Unit D10: 1 bed / 1 bath $450/month $5,400/year
  • Unit D11: 1 bed / 1 bath $450/month $5,400/year
  • Unit D12: 1 bed / 1 bath $450/month $5,400/year
  • Unit D13: 1 bed / 1 bath $450/month $5,400/year
  • Unit D14: 1 bed / 1 bath $450/month $5,400/year
  • Unit D15: 1 bed / 1 bath $450/month $5,400/year
  • Unit D16: 1 bed / 1 bath $450/month $5,400/year
  • Unit D2: 1 bed / 1 bath $450/month $5,400/year
  • Unit D3: 1 bed / 1 bath $450/month $5,400/year
  • Unit D4: 1 bed / 1 bath $450/month $5,400/year
  • Unit D5: 1 bed / 1 bath $450/month $5,400/year
  • Unit D6: 1 bed / 1 bath $450/month $5,400/year
  • Unit D7: 1 bed / 1 bath $450/month $5,400/year
  • Unit D8: 1 bed / 1 bath $450/month $5,400/year
  • Unit D9: 1 bed / 1 bath $450/month $5,400/year
  • Building 5
  • Unit E1: 2 bed / 1 bath $550/month $6,600/year
  • Unit E2: 2 bed / 1 bath $550/month $6,600/year
  • Unit E3: 2 bed / 1 bath $550/month $6,600/year
  • Unit E4: 2 bed / 1 bath $550/month $6,600/year
  • Unit E5: 2 bed / 1 bath $550/month $6,600/year
  • Unit E6: 2 bed / 1 bath $550/month $6,600/year
  • Unit E7: 2 bed / 1 bath $550/month $6,600/year
  • Unit E8: 2 bed / 1 bath $550/month $6,600/year
  • Building 6
  • Unit F1: 2 bed / 1 bath $550/month $6,600/year
  • Unit F2: 2 bed / 1 bath $550/month $6,600/year
  • Unit F3: 2 bed / 1 bath $550/month $6,600/year
  • Unit F4: 2 bed / 1 bath $550/month $6,600/year
  • Unit F5: 2 bed / 1 bath $550/month $6,600/year
  • Unit F6: 2 bed / 1 bath $550/month $6,600/year
  • Unit F7: 2 bed / 1 bath $550/month $6,600/year
  • Unit F8: 2 bed / 1 bath $550/month $6,600/year
  • Building 7
  • Unit G1: 2 bed / 1 bath $550/month $6,600/year
  • Unit G2: 2 bed / 1 bath $550/month $6,600/year
  • Unit G3: 2 bed / 1 bath $550/month $6,600/year
  • Unit G4: 2 bed / 1 bath $550/month $6,600/year
  • Unit G5: 2 bed / 1 bath $550/month $6,600/year
  • Unit G6: 2 bed / 1 bath $550/month $6,600/year
  • Unit G7: 2 bed / 1 bath $550/month $6,600/year
  • Unit G8: 2 bed / 1 bath $550/month $6,600/year
  • Total $33,650/month $403,800/year
  • Expenses
  • Water and Sewer $4,316/month $51,796/year
  • Property Taxes $1,015/month $12,180/year
  • Electric bill $189/month $2,270/year
  • Maintenance reserve $3,333/month $40,000/year
  • Property Management $2,000/month $24,000/year
  • Lawn care $250/month $3,000/year
  • Insurance $1,808/month $21,697/year
  • Total $12,912/month $154,943/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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