CLOSED ESCROW
MULTIFAMILY
4814 kristie drive
OKLAHOMA CITY, OK 73115
PRICE:
PRICE/UNIT:
PRICE/SF:
CAP RATE CURRENT/ PRO FORMA:
GRM CURRENT/
PRO FORMA:
$4,150,000
$37,053
$47.05
8.67%/10.35%
5.52/4.94
DEAL HIGHLIGHTS:
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1031 Exchange Buyer
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Sold a property in Los Angeles for a 5.32% Cap Rate and leveraged into this deal with a current 8.67% Cap Rate.
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70% LTV with a fixed low interest rate
ASSET HIGHLIGHTS
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Currently Over 94 Percent Occupancy
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112 Units on Seven Acres
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17.4 Percent Current Cash on Cash and 22.26 Percent Pro Forma Cash-on-Cash
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One and One Half Miles From Rose State College and Walking Distance to Tinker Air Force Base
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Easy Access to I-40 and Bricktown
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Stable Operations With Increasing Rents
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Swimming Pool and Large Clubhouse
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Attractive Financing Attached to Deal
THE ASSET
Willow Park Apartments is a 112-unit complex located in an excellent submarket serving Tinker Air Force Base. The unit mix is 88 two-bedroom and 24 one-bedroom apartments.
Willow Park offers immediate cash flow, high return on investment, and attractive financing. The Tinker Submarket offers low vacancy and opportunity for continued rent growth. The 17.4 percent current cash on cash return and 22.26 percent proforma cash on cash return make Willow Park an attractive investment.
The property is strategically located with frontage on Sooner Road and is located near major retail and interstate highways. Willow Park is 1.5 Miles from Rose State College and walking distance to Tinker Air Force Base, Oklahoma City's largest employer.
The property offers a club house, laundry facility, pool, recreation area and open grounds.
Willow Park Apartments offers investors an opportunity to acquire a low risk, stabilized, cash flowing asset with upside in increasing rents to market and appreciation of property value.