2511 Madison Avenue, Woodward, OK
11.56% return
SP:
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Property Description

AMAZING PACKAGE!!!

30 apartments. Great condition. Central heat and air in every unit. Located in a beautiful community. Low crime area. Properties can be bought separately, but are discounted as a package!

Financing and professional property management is available.

Property Information

  • Listing statusActive
  • Property typeMulti Family (11 properties)
  • Total units30
  • Total bedrooms66
  • Total bathrooms34
  • Building size23284 sq. ft.
  • Lot size2.7 acres
  • Year built1932 - 1981
  • CountyWoodward County
  • Subdivision
  • ConstructionBrick, Brick/Frame, Frame
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price $1,350,000
  • Estimated rehab 1 $0
  • Total investment $1,350,000
  • Type Proforma
  • Gross income (annually) $222,300
  • Operating expenses (annually) $66,207
  • Net income (annually) $156,093
  • Gross return 16.47%
  • Gross income (monthly) $18,525
  • Operating expenses (monthly) $5,517
  • Net income (monthly) $13,008
  • Net return 11.56%

Property Income & Expenses

  • Income
  • 1213 Oak Avenue,
  • Unit 1: 2 bed / 1.5 bath $650/month $7,800/year
  • Unit 2: 2 bed / 1.5 bath $650/month $7,800/year
  • 2214 Santa Fe Street
  • 3 bed / 1 bath $650/month $7,800/year
  • 2329 Kansas Avenue
  • 3 bed / 1 bath $650/month $7,800/year
  • 2426 Webster Avenue,
  • Unit 1: 2 bed / 1 bath $600/month $7,200/year
  • Unit 2: 2 bed / 1 bath $600/month $7,200/year
  • Unit 3: 2 bed / 1 bath $600/month $7,200/year
  • Unit 4: 2 bed / 1 bath $600/month $7,200/year
  • Unit 5: 2 bed / 1 bath $600/month $7,200/year
  • Unit 6: 2 bed / 1 bath $600/month $7,200/year
  • Unit 7: 2 bed / 1 bath $600/month $7,200/year
  • Unit 8: 2 bed / 1 bath $600/month $7,200/year
  • Unit 9: 2 bed / 1 bath $600/month $7,200/year
  • 2505 Madison Avenue,
  • Unit 7: 2 bed / 1 bath $600/month $7,200/year
  • Unit 8: 2 bed / 1 bath $600/month $7,200/year
  • Unit 9: 2 bed / 1 bath $600/month $7,200/year
  • Unit 10: 2 bed / 1 bath $600/month $7,200/year
  • Unit 11: 2 bed / 1 bath $600/month $7,200/year
  • Unit 12: 2 bed / 1 bath $600/month $7,200/year
  • 2511 Madison Avenue,
  • Unit 1: 2 bed / 1 bath $600/month $7,200/year
  • Unit 2: 2 bed / 1 bath $600/month $7,200/year
  • Unit 3: 2 bed / 1 bath $600/month $7,200/year
  • Unit 4: 2 bed / 1 bath $600/month $7,200/year
  • Unit 5: 2 bed / 1 bath $600/month $7,200/year
  • Unit 6: 2 bed / 1 bath $600/month $7,200/year
  • 413 S Graham Street
  • 2 bed / 1 bath $425/month $5,100/year
  • 618 Highland Circle
  • 3 bed / 1.5 bath $700/month $8,400/year
  • 619 Highland Circle
  • 3 bed / 1.5 bath $700/month $8,400/year
  • 623 Highland Circle
  • 3 bed / 2 bath $750/month $9,000/year
  • 624 Highland Circle
  • 3 bed / 2 bath $750/month $9,000/year
  • Total $18,525/month $222,300/year
  • Expenses
  • Property Taxes $731/month $8,767/year
  • Insurance $1,461/month $17,532/year
  • Lawn care $70/month $840/year
  • Maintenance reserve $1,750/month $21,000/year
  • Water and Sewer $420/month $5,040/year
  • Property Management $1,086/month $13,028/year
  • Total $5,517/month $66,207/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.

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