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40-Unit Value-Add Apartment Building 3732 NW 23rd St 40 Unit Apartment Building $1,799,000 ($44,975/Unit) 15.29% Cap Rate Oklahoma City, OK 73107
Investment Highlights
- Heavy traffic area
- Good tenant base
- Capital Improvments 2.5m +
Executive Summary
FRE Auctions & Coldwell Banker Select are pleased to present the Online Auction Plus event for the opportunity to purchase Pennington Place Apartments "property", a renovated 40-unit value-add apartment building in Oklahoma City, Ok.
Pennington Place Apartments presents a rare opportunity to acquire a value-add multifamily asset with a clear path to long-term stability and upside. The property is positioned for a full transformation, with approximately $2.5 million in planned and/or completed capital improvements designed to modernize both major systems and interior finishes.
LINK TO AUCTION: www.FRE.com/563D6
Pennington Place Apartments presents a rare opportunity to acquire a value-add multifamily asset with a clear path to long-term stability and upside. The property is positioned for a full transformation, with approximately $2.5 million in planned and/or completed capital improvements designed to modernize both major systems and interior finishes.
LINK TO AUCTION: www.FRE.com/563D6
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,799,000 | Building Class | C |
| Price Per Unit | $44,975 | Lot Size | 1.71 AC |
| Sale Type | Investment | Building Size | 32,720 SF |
| Cap Rate | 15.29% | Average Occupancy | 100% |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.38/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM1 - Residential Multi-Family-1 | ||
| Price | $1,799,000 |
| Price Per Unit | $44,975 |
| Sale Type | Investment |
| Cap Rate | 15.29% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.71 AC |
| Building Size | 32,720 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2023 |
| Parking Ratio | 1.38/1,000 SF |
| Zoning | RM1 - Residential Multi-Family-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | $850.00 | 786 |
| 2+1 | 20 | $950.00 | 757 - 850 |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 133801055 | Total Assessment | $281,886 |
| Land Assessment | $21,750 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $260,136 | Tax Year | 2025 |
Property Taxes
Parcel Number
133801055
Land Assessment
$21,750
Improvements Assessment
$260,136
Total Assessment
$281,886
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
40-Unit Value-Add Apartment Building | 3732 NW 23rd St