Listed by Rock Property Group
$1,200,000
Melrose Oaks
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,600
Net Rentable (SqFt) 13,600
Units 16
Cap Rate 7.21%
NOI $86,532
Occupancy 100%
Tenancy Multi
Price per SqFt $88
Class B
Year Built 1968
Buildings 4
Stories 2
Acreage 0.970
Zoning R-4 / Multifamily
Investment Type Value Add
Occupancy Date 04/30/2026
Melrose Oaks is a multifamily community located on the west side of OKC metro.
Marketing description
Oklahoma City is a rapidly expanding metro balancing a low cost of living with an exceptional quality of life. Backed by citizen-led tax initiatives (MAPS), the city is experiencing a massive wave of infrastructure and downtown development. Driven by major economic anchors in aerospace, health care, and energy, the OKC Metro boasts an unemployment rate of just 3.3%—the fourth-lowest among large U.S. cities. Ranking as the 20th most populous city in the United States, its recent population growth velocity tracks at more than double the national average.
Investment highlights
- Rents are significantly below market rents
- Ability for an owner to perform maintenance inhouse
- Self-management allowing for oversight of the property and reduced expenses
- Implementation of RUBS
- 16 unit community with 4 buildings.
- Each building has 2 downstairs, and 2 upstairs units
- All units are 2 bed, 2 bath with 850 SF Units
- Occupancy remains consistently at 100%
- Nearby I-40, I-44, and the Kilpatrick turnpike
- Minutes from the OKC Outlets
- Great location off of Melrose Lane
- Each building has interior cooridor access
- Each building has common area coin-op laundry units
- Additional room for grilling, playground, or other common area amenities to increase rents
- Lots of sunshine and windows for each unit
Listing Contacts
Listed by Rock Property Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$86,532.00
$7,211.00/mo
Valuation Metrics
0
DSCR
7.21%
Cap Rate
7.21%
ROI
Map
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Property History
Tax History
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