501 Carlsbad StOwasso, OK 74055

Property Details for 501 Carlsbad St

Year built

2001

Construction

WOOD FRAME

Lot size

2.07 AC

Property size (Sq ft)

1,116 SF

Zone code

RS3

Property type

Specialty properties

APN

61100-14-30-02010

APU

61100143002010

Description

This exceptional 40-unit apartment building in Owasso, Oklahoma, presents a compelling value-add investment opportunity. Located at 501 N Carlsbad St, 74055, this Class B property boasts 34,725 net rentable square feet situated on a 2.07-acre lot. The property, comprised of 12 single-story buildings, underwent extensive exterior renovations in 2021, including new windows, roofs, gutters, paint, siding, and masonry work, as well as new iron privacy fencing. Currently operating at 90% occupancy with an occupancy date of August 9th, 2024, the property features a leasing office and laundry facility. A proven interior renovation strategy is in place, projected to increase rental rates by $200-$300 per unit. The property benefits from a prime location near the Redbud District, ensuring high demand and long-term value. The strong Owasso real estate market and ongoing development in the area further enhance the investment potential. Additional community amenities are possible given the available space. 24-hour maintenance is available on call. The asking price for this well-maintained, high-potential property is $4,300,000.

• Alternative Use

  Use

  Valuation

  Residential

  $111,352

  Hospitality

  $101,998

  Educational

  $84,861

  Medical

  $87,780

  Retail

  $132,007

Location Insight

City

Owasso

County

Tulsa

State

Oklahoma

Latitude

36.2729

Longitude

-95.8582

CBSA code

46140

CBSA name

TULSA, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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