1212 26Th StOklahoma City, OK 73106

For Sale
$4,000,000
53 Units, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional multifamily investment opportunity encompasses a portfolio of four apartment buildings totaling 53 units, strategically located in desirable areas of downtown Oklahoma City. Built between 1955 and 1974, these Class C properties present a compelling value-add proposition. Currently boasting 76% occupancy, the portfolio offers significant upside potential through renovations and rent increases. A pro forma analysis indicates a 9.14% capitalization rate post-renovation. The average price per unit is $75,471.70, with an asking price of $4,000,000. The properties are situated at 1212 NW 26th St (73106), 2301 NW 18th St (73107), 1731 NW 32nd St (73118), and 2123 SW 46th St (73119) in Oklahoma County. The strong downtown OKC submarket exhibits robust growth, with trailing rent growth of 3.1% and projected growth of 5.1% over the next year. High demand for one-bedroom units, coupled with a substantial renter-occupied household base, supports significant rental increases. The portfolio's central location provides convenient access to major employers, hospitals, educational institutions, and entertainment venues, further enhancing its investment appeal. This is a rare chance to acquire a well-positioned portfolio with substantial potential for increased profitability. The properties benefit from a high concentration of one- and two-person households with a median income of $84,368 and a median age of 37. The portfolio's location within three miles of eleven major employers in the Oklahoma City metro area provides access to over 60,000 daytime employees.

Property Details for 1212 26Th St

Property type
Apartment buildings
Class
C
Units
53

Location Insight

City
Oklahoma City
County
Oklahoma
State
Oklahoma
Latitude
35.496349321809
Longitude
-97.532764398692
1212 26Th St, Oklahoma City, Oklahoma

FAQs

What type of property is this?
Apartment building - 53 Units, Value-Add Opportunity
Where is the apartment building located?
The property is located at 1212 26Th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $4,000,000.
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1212 26Th St
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