Cherokee Hills
20-Unit Value-Add Opportunity in Oklahoma City
Marketing description
AXIS Multifamily is pleased to present the exclusive opportunity to acquire Cherokee Hills, a 20-unit multifamily asset located in Warr Acres, OK. The property benefits from exceptional accessibility, situated directly along MacArthur Boulevard, a major north-south arterial corridor, and within minutes of both the Northwest Expressway (State Highway 3) and Historic Route 66 (NW 39th Street). This prime location provides residents with convenient access to downtown Oklahoma City. Cherokee Hills is located in the Central Oklahoma City submarket, which has averaged 3.2% annual rent growth over the past 5 years. Average rent for the comparable properties is $972 per unit.
Investment highlights
VALUE-ADD SUMMARY
Over $80,000 in Potential Revenue Upside
Rents are $300 Below Competitors 100% Classic interiors provide new ownership the opportunity to bring all units to a consistent renovation level ANNUAL REVENUE UPSIDE $60,000
Implement RUBS T-12 Utility expense is over $18,000 ANNUAL REVENUE UPSIDE $10,000
Utility Efficiencies To cut down on utility costs, new ownership can install LED exterior lighting, water savings program and smart thermostats
Ancillary Income Add Covered Parking, Bulk Cable/Internet and Trash Fee ANNUAL REVENUE UPSIDE $10,000
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