Country Club View Apartments 4635 W Gore Blvd 229 Unit Apartment Building For Sale Lawton, OK 73505

Summary:
The Multifamily Group is pleased to present the exclusive offering of Country Club View, a unique, stabilized, low-basis opportunity with significant upside in Lawton, Oklahoma. Constructed in 1966, the property consists of 229 units averaging 832 square feet. The property offers efficiencies to three-bedroom and two-and-a-half bathroom floor plans. The property is currently 95% occupied, matching the strong occupancy rates in the submarket at 95% (Yardi). Country Club View is being offered free and clear of existing debt.
Capital Expenditures:
The current owners have invested approximately $3.5MM into the asset:
- Capital improvements include roof replacements, window upgrades, interior and exterior painting, paving, plumbing repairs, brick replacement, and significant structural work, including complete pier-and-beam replacements and floor joists. The majority of the investment was allocated toward comprehensive interior renovations. These upgrades included new flooring, updated appliances, modern windows, fresh paint, and upgraded finishes. (A full capex list is available upon request.)
Value-Add:
- Reduce operating expenses by $138,000 annually through lower insurance costs, payroll efficiencies, and reduced R&M
- Burn off loss-to-lease, currently 7% or approximately $190,000 per year
- Potential combined NOI increase of ~$330,000, equating to approximately $4.4 million in value at a 7.5% exit cap rate
Location:
Country Club View Apartments is ideally located in the highly desirable West Lawton submarket, adjacent to the prestigious Lawton Country Club and less than half a mile from Eisenhower High School. The Lawton economy is anchored by Fort Sill, the region’s largest employer, with an annual economic impact of approximately $1.9 billion. Ongoing military-driven investment is fueling growth, including the redevelopment of a former mall into FISTA, the Fires Innovation Science and Technology Accelerator, designed to attract defense contractors and high-tech startups collaborating with the military. Continued momentum in the manufacturing sector is expected, highlighted by Firehawk Aerospace’s recent announcement of a new $22 million facility in Lawton that will create over 100 new jobs in the area.