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Oaklawn Apartments

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Address: 6401 NW Oak Ave, Lawton, OK 73505, USA

Texas + Apartment Buildings

Created date: September 20, 2024

Date last updated: September 20, 2024

Value-add opportunity
Strong cash flow with upside potential
Below market rents
100% Occupied

Property Description

Oaklawn Apartments (the “Property”) is a 25-unit, multifamily property located in Lawton, OK. Built in 1979, this garden style community consists of four two-story buildings and serves as a value-add opportunity for potential investors. This property has an average unit size of 646sf with the majority of the units offering one-bed/one-bath. As of June, the property is 100% occupied with roughly 70% of the tenants being on month-to-month leases and an average rental rate of $451/month – Which is well below market. Additionally, the owner is currently paying for all utilities, outside of electricity, rather than billing back tenants for usage.Given the structure of the MTM leases, utility recovery, and considerable rental upside, this opportunity allows for investors to step in and increase income at the property immediately.

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Lot Size:	16,155.00 Sq ft
Opportunity Zone:	No
Property Website	Click Here