3398 6Th AveStillwater, OK 74074

Property Details for 3398 6Th Ave

Year built

2007

Property type

Apartment buildings

Description

This exceptional 40-unit apartment complex, built between 2007 and 2008, presents a lucrative investment opportunity in Stillwater, Oklahoma. Located at 3398 E 6th Ave, this Class B property boasts 100% occupancy as of November 11, 2024, and features four buildings in a garden-style design. The property benefits from high visibility on Highway 51, with daily traffic counts exceeding 12,500 vehicles. Its prime location offers convenient access to major employers, national retailers, restaurants, medical services, recreation, and entertainment, all within a 10-minute radius. Furthermore, its proximity to Oklahoma State University (a Power 4 University with a large and growing student population) ensures a consistent demand for rental units. The property offers desirable unit amenities, including washers/dryers, private balconies, pantries, and walk-in closets. Recent leases have been signed at full asking rates, reflecting strong market demand. An assumable debt with a fixed 3.6% interest rate until 2029 further enhances the investment appeal. Market analysis reveals superior fundamentals, with low vacancy rates (2.2% average for comparable properties) and significant rent growth (3.2% average annual growth and 14.2% three-year growth). The property also benefits from a high tenant retention rate (66% of tenants residing for over a year) and a lack of new competing developments in the foreseeable future. The location is highly desirable, with a cost of living 10-20% below the national average. This property offers a compelling combination of strong occupancy, desirable amenities, and a prime location in a thriving market. The asking price is $3,500,000.

Location Insight

City

Stillwater

County

Payne

State

Oklahoma

Latitude

36.1162

Longitude

-97.0173

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].