Bought with Cassidy Johnson
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Key Details
Sold Price $1,207,000
Property Type Multi-Family
Sub Type More Than 4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 9,092 sqft
Price per Sqft $132
MLS Listing ID OKC1070623
Sold Date 01/30/24
Style Tudor
Bedrooms 15
Full Baths 15
Construction Status Brick & Frame
Year Built 1928
Annual Tax Amount $11,198
Lot Size 0.344 Acres
Property Sub-Type More Than 4 Units
Property Description
Introducing a 15-unit apartment complex in Historic Lincoln Terrace. This well-located property is close to OU Medical Center and Downtown OKC. The complex features 12 one-bedroom units and 3 studios, all variably updated as tenants moved out with new flooring, kitchen and bathroom updates, fresh paint, and more. Each unit has a balcony or porch, there are no Section 8 tenants, and on site laundry room. Other improvements include replacing all 4 sewer lines, a new roof on one building in 2022, a repaved parking lot. Currently 80% occupied, with 3 vacant units for lease (one being filled in August.) All but 3 units metered separately for Electric, and some units have utility chargebacks and could be added to others. There is still room for additional upside with increasing rents of at least 7 units and there are 3 basement units that could be converted or used to provide storage for every unit. Ideal for investors seeking a historic yet modernized property in a prime location. Don't miss this opportunity!
Location
State OK
County Oklahoma
Interior
Heating Central Electric
Cooling Central Gas
Fireplaces Number 13
Fireplaces Type None
Fireplace Y
Appliance Refrigerator, Water Heater
Exterior
Parking Features Additional Parking, Concrete
Garage Description Additional Parking, Concrete
Roof Type Composition
Building
Lot Description Interior Lot
Story 2
Foundation Conventional
Architectural Style Tudor
Level or Stories Two
Structure Type Brick & Frame
Construction Status Brick & Frame
Schools
Elementary Schools Wilson Es
Middle Schools Moon Ms
High Schools Douglass Hs
School District Oklahoma City
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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