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3175 N Portland Ave
Oklahoma City, OK 73112
Portland Park · Multifamily Property For Sale
·
207 Units
PROPERTY FACTS
| No. Units | 207 | Building Size | 208,038 SF |
| Property Type | Multifamily | Average Occupancy | 84% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1971/2022 |
| Building Class | C | Parking Ratio | 1.57/1,000 SF |
| Lot Size | 8.55 AC | ||
| Zoning | R-4 | ||
| No. Units | 207 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 8.55 AC |
| Building Size | 208,038 SF |
| Average Occupancy | 84% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2022 |
| Parking Ratio | 1.57/1,000 SF |
| Zoning | R-4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer Hookup
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Laundry Facilities
ABOUT 3175 N PORTLAND AVE , OKLAHOMA CITY, OK 73112
The Portland Parke Apartment contains 207 units being sold at the direction of the court appointed receiver, as part of a foreclosure. The unit mix consists of 75 one-bedroom units and 132 two-bedroom units. The defaulted borrower had recently completed an extensive renovation on 40% of the units, completely upgrading the interiors with new cabinets, appliances, flooring (mixture of carpet and faux wood vinyl), new bathroom vanity and two tone paint. Buyers will benefit from significant upside in the fully renovated property and ability to be in at an all in cost well below the potential value. Current renovated units are said to be completely down to the wood frame, with electrical and plumbing being replaced. The defaulted borrower also replaced the flat, mansard roofs, with pitched gable roofing systems. It's important to point out that these improvements have not all been permitted properly, and buyer's will need to perform due diligence in determining what has been competed to code, what is permitted and what will need to be done to continue moving forward to achieve certificate of occupancy on the remaining units.
PROPERTY TAXES
| Parcel Number | 133721000 | Improvements Assessment | $939,813 |
| Land Assessment | $122,899 | Total Assessment | $1,062,712 |
PROPERTY TAXES
