5811 NW 34th St, Oklahoma City, OK 73122

Lamplight Apartments, a 126-unit multifamily investment opportunity located at 5811 NW 34th St, Oklahoma City, OK.

This offering presents investors with a rare opportunity to acquire a cash-flowing value-add asset with immediate lease-up momentum, minimal delinquency, and significant upside potential in one of Oklahoma City’s most stable rental submarkets.

Property Overview

• 126 Units
• Asking Price: $9,400,000
• Approx. $74,603 Per Unit
• Garden-Style Multifamily Community
• Oklahoma City, OK

Strong Forward-Looking Income Story

The current rent roll reflects 94 occupied units with approximately $75,385/month in actual rents. However, ownership reports that 15 of the currently vacant units are already pre-leased, creating a clear path toward increased occupancy and improved cash flow.

Additionally, delinquency is reportedly minimal, supporting strong collections and higher-quality income than many comparable value-add assets.

Stabilized Upside

The property offers substantial embedded upside through:

• Lease-up of remaining vacant inventory
• Capturing market rents
• Continued operational optimization
• Interior unit upgrades and turnover strategy

Current market rent potential is approximately $101,958/month, providing investors with meaningful revenue growth opportunity as occupancy stabilizes.

Investment Metrics

• Current Actual Rent: ~$75,385/month
• Market Rent Potential: ~$101,958/month
• 15 Units Pre-Leased
• Minimal Delinquency
• Approx. 7.5% Stabilized Cap Rate (per Noble underwriting)

Market Overview

Oklahoma City continues to attract multifamily investors due to:

• Affordable cost of living
• Strong renter demand
• Stable occupancy trends
• Favorable landlord environment
• Consistent rent growth fundamentals

Lamplight Apartments combines scale, cash flow, and lease-up upside at an attractive basis, making it an ideal opportunity for private investors, syndicators, and multifamily operators.