Heritage Ridge
Multifamily | 112 Units
Marketing description
The Multifamily Group is pleased to present Heritage Ridge, a 112-unit apartment community located in Oklahoma City, Oklahoma. With current occupancy at approximately 93%, Heritage Ridge represents a stabilized, well-maintained investment opportunity featuring significant completed capital improvements and strong upside potential. Originally constructed in 1972, the property has benefited from more than $1.9 million in capital expenditures. While ownership has completed substantial renovations throughout the community, several opportunities remain for a new owner to continue enhancing revenue and property performance.
Heritage Ridge is located in northwest Oklahoma City with convenient access to I-40, I-44, and downtown Oklahoma City. The property is near major employers including Tinker Air Force Base, Amazon, INTEGRIS Health, and Will Rogers International Airport. Strong area demographics, a $58,000+ median household income, and proximity to employment centers support continued demand for workforce housing.
Investment highlights
- Majority 2-BD Units
- Over $1.9MM Invested in Capital Expenditures
- $1.1MM in Value-Add Opportunities
- Approximately 80% of the Units have been Renovated with $100+/Month Proven Premiums
- High Visibility On NW 10th (13,000+ VPD) - Yardi
- $58,000+ Median HH Income - 5-Mile Radius - Yardi
- Double-Digit Cash-on-Cash by End of Year 1
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