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ORCHARD SPRINGS APARTMENTS
1312 N. Midwest Blvd., Midwest City, OK 73110
201 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 175,656 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Commission Split:
- Cap Rate:
- No. Stories:
- Year Built:
- Lot Size:
- 9.86 AC
- Listing ID
- Last Updated
- 111 days ago
- Lender Owned
- 201-units with 20% one bedrooms, 52% two bedrooms and 28% three bedrooms
- Potential upside of $40 to $50 per month in rental rates by adding dishwashers
- Near Rose State College and Midwest Regional Medical Center
- No Stated Price. A Bid Deadline May Apply
Exclusively Listed with CRRC.
Orchard Springs is a 201-unit Lender Owned property. Orchard Springs represents one of the last remaining lender owned multifamily assets in Oklahoma City that offers a great location and upside.
Orchard Springs was built in 1967 and was renovated in 2001, including new roofs. The buildings are constructed of brick veneer, wood trim with mansard siding exterior with flat roofs.
The unit mix consists of 41 one-bedroom units, 104 two-bedroom units, and 56 three-bedroom units. These units average approximately 874 square feet each. Unit interiors include refrigerators, range/oven, vent hood and garbage disposal. The apartments are individually metered for electric and HVAC and the tenants pay for their own electric service. The owner pays for common area electricity, water, sewer and trash removal.
The property is located in Midwest City, about three miles north of Tinker Air Force Base and Boeing. The neighborhood is mostly defined as residential with commercial and retail establishments to the south. Tinker is one of three Air Logistic Centers in the nation. Tinker currently employs approximately 26,000 civilian and military personnel. Tinker is a maintenance depot for most of the heavy jet aircraft in service including the B-1, B-52, KC-135, E-3 and the E-6. They also maintain almost every jet engine in the military as well as cruise missile engines and software development for the B-2 Stealth Bomber. The property is also within minutes of Rose State College. This is a desirable area of Midwest City and is considered a stable submarket due to the support of Tinker Air Force Base.
Map of 1312 N. Midwest Blvd., Midwest City, OK 73110 (Oklahoma County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P