5707 Southeast 48th Street

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Address: 5707 SE 48th St, Oklahoma City, OK 73135, USA
Created date: June 11, 2024
Date last updated: July 8, 2024

Property Description

Featuring an ideal location near Oklahoma’s largest single-site employer and enjoying a short 15-minute commute to Downtown Oklahoma City, Tinker on Forty8 offers a compelling value-add investment opportunity in excellent condition. This stabilized community features a large 944 SF average unit size across a variety of one-, two-, three-, and four-bedroom floor plans, and benefits from a stable employment base with favorable submarket fundamentals. EXCEPTIONAL LOCATION Tinker on Forty8 is situated four minutes by car from Tinker Air Force Base, a principal Oklahoma City economic driver and the largest single-site employer in Oklahoma. With a combined total of 53,561 direct and indirect employees and substantial growth projected for the immediate future, Tinker on Forty8 stands to benefit from the housing needs of current and future Tinker employees and those of allied industries supporting the base. MARKET-PROVEN VALUE-ADD Monthly market rent deltas with submarket comparable communities average over $370 per unit. Located less than two miles south of the subject property, Pebble Creek averages per-unit monthly market rent deltas exceeding $470. DESIRABLE AMENITIES Tinker on Forty8 features an attractive range of community amenities, including a resident lounge, community swimming pool, 24-hour fitness center, business center, pet park, and children’s playground. Over $436,000 has been invested by current ownership for unit and community improvements, resulting in high-quality tenants and strong resident retention. STRONG FUNDAMENTALS Submarket average occupancy stands at 94.4% for 4- and 5-star assets, with CoStar indicating 2.9% year-over-year asking rent growth. Proximity to Tinker Air Force Base drives a younger renter demographic, with a median age of 31.3 and 39.4% renter-occupied households within a one mile radius of Tinker in Forty8 (ESRI).

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 152
Year Built: 2005
Opportunity Zone: No
Property Website Click Here
Address: 5707 Southeast 48th Street, Oklahoma City, OK 73135-4134, USA
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