4746 NW 23rd Street
Oklahoma City, OK 73127 ·
111 Units · Multifamily For Sale
Emerald Court Apartments
|No. Units||111||Gross Rent Multiplier||4.82|
|Building Size||96,614 SF||No. Stories||2|
|Property Type||Multifamily||Year Built||1971|
|Property Sub-type||Garden/Low-Rise||Lot Size||3.90 AC|
|Property Use Type||Investment|
|Listing ID: 17206078||Date Created: 06/16/2011||Last Updated: 07/24/2011|
Emerald Court Apartments is a 111 unit garden style apartment community located in northwest Oklahoma City. Directly across the street from a large shopping center residents are within walking distance to restaurants, movies, groceries and other various retail stores. Centrally located and on a public bus route, residents are able to reach any destination in Oklahoma City within minutes and have access to nearby employers such as FAA, Will Rogers World Airport, Wal-Mart Super Center, Hobby Lobby Corporate Office and many other small businesses. Owned and operated by the same owner for over fifteen years, this property is an ideal candidate for various types of tax credit financing options, or has upside by increasing the well below market rents. The buyer of Emerald Court can also purchase the property that is directly to the west from the same owner and take advantage of reduced expenses by operating them together. The neighbor property, Winslow Glen, is 130 units which would total 241 units between the two properties.
Emerald Court Apartments is located in Northwest Oklahoma City which has been considered to be one of the more desirable areas in Oklahoma City. NW 23rd Street is one of the arterial streets that run east and west in Oklahoma City which has numerous businesses, retail stores and dinning on either side. Emerald Court is connected to Interstate 44 with direct access from NW 23rd street only 1.5 miles to the east. Interstate 40 is also easily accessible approximately 2 miles to the south making this property positioned to have quick access to any part of the city in only minutes.
- Current appraisal of $3,500,000
- Can be purchased individually or in a package
- Below Market Rents
- Over 70% of the units are 2 bedroom or larger
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