1001 E Independence St
Shawnee, OK 74804
Villa Chateau Apartments · Multifamily Property For Sale · 52 Units

The Multifamily Group is pleased to present the exclusive offering of Villa Chateau Apartments, a 92% occupied, 50-unit community located in Shawnee, Oklahoma, 45 minutes east of Oklahoma City. Constructed in 1975, Villa Chateau consists of five 2-story buildings situated on 3 acres of land with brick exteriors. Villa Chateau has an attractive average unit size of 745sqft with over half of all units consisting of two bedrooms. Villa Chateau’s current ownership pays for water, sewer, and trash while residents are solely responsible for their electricity. Only four units have been fully renovated two additional units have received light renovations which are currently achieving an average of a $104/month rent premium over non-renovated units. Non-renovated units have white or black appliances, carpet and vinyl flooring, and original cabinets, most appliances have been replaced at least once since the property was built. Renovated units have all new stainless steel appliances, vinyl flooring with carpet in the bedrooms, new fixtures, new windows, and raised panel doors. Ownership has also replaced all the roofs in the last four years. The property comes with a clubhouse that currently contains exercise equipment, ping pong tables, a conference area, and more. The property also has an on-site laundry facility for the convenience of residents, and all the machines are owned and operated by the seller, so new ownership will not be bound to a service contract. New ownership has the opportunity to install carports on the property and charge for reserved parking, which would be convenient for residents and add a new income stream for new ownership. Villa Chateau benefits from an on-site property manager and 24-hour emergency maintenance service. Villa Chateau is located 2.5 miles from I-40, which provides quick and convenient access to Oklahoma City, as well as I-35. Within two miles of the property are several eateries, shopping centers, and convenience stores. The property is also just two miles away from Oklahoma Baptist University ranked #7 in the 2019 edition of Best Regional Colleges West.