Lyn-den Rod Apartments 3028 Arline St 16 Unit Apartment Building $1,050,000 ($65,625/Unit) 7.80% Cap Rate Muskogee, OK 74401

Lyndenrod Apartments represents an investment opportunity in a 16-unit garden-style multifamily community located in Muskogee, Oklahoma. This well-maintained property offers a balanced unit mix of ten one-bedroom and six two-bedroom apartments, catering to a diverse tenant base. With current occupancy at 93.8% and 15 of 16 units fully leased, the property provides immediate income stability with documented leases rather than projections.
The property features strong income fundamentals, generating gross annual rent of approximately $131,688 and a pro forma net operating income of $81,865, equating to a 7.8% cap rate. There is an additional income upside through planned June 2026 rent adjustments on eight month-to-month leases, which will further strengthen cash flow without requiring capital improvements. Recent enhancements include repainted entry doors for improved curb appeal and washer/dryer units installed in select apartments, supporting rent premiums.
Residents benefit from proximity to major thoroughfares, employment centers, and local retail amenities within Muskogee, a market offering affordability and steady rental demand. With month-to-month leases providing a new owner immediate flexibility, coupled with opportunities such as insurance cost reviews and stable tenant income, Lyndenrod Apartments is positioned for both current yield and future growth potential.