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Cherokee Hills Apartments 7215-7219 N MacArthur Blvd 20 Unit Apartment Building For Sale Warr Acres, OK 73132
Investment Highlights
- Rents are $300 Below Competitors 100% Classic interiors provide new ownership the opportunity to bring all units to a consistent renovation level ANNU
- Ancillary Income - Add Covered Parking, Bulk Cable/Internet and Trash Fee ANNUAL REVENUE UPSIDE $10,000
- Implement RUBS - T-12 Utility expense is over $18,000 ANNUAL REVENUE UPSIDE $10,000
Executive Summary
20-Unit Value-Add Opportunity in Oklahoma City
AXIS Multifamily is pleased to present the exclusive opportunity to acquire Cherokee Hills, a 20-unit multifamily asset located in Warr Acres, OK. The property benefits from exceptional accessibility, situated directly along MacArthur Boulevard, a major north-south arterial corridor, and within minutes of both the Northwest Expressway (State Highway 3) and Historic Route 66 (NW 39th Street). This prime location provides residents with convenient access to downtown Oklahoma City. Cherokee Hills is located in the Central Oklahoma City submarket, which has averaged 3.2% annual rent growth over the past 5 years. Average rent for the comparable properties is $972 per unit.
VALUE-ADD SUMMARY
Over $80,000 in Potential Revenue Upside
Rents are $300 Below Competitors 100% Classic interiors provide new ownership the opportunity to bring all units to a consistent renovation level ANNUAL REVENUE UPSIDE $60,000
Implement RUBS T-12 Utility expense is over $18,000 ANNUAL REVENUE UPSIDE $10,000
Utility Efficiencies To cut down on utility costs, new ownership can install LED exterior lighting, water savings program and smart thermostats
Ancillary Income Add Covered Parking, Bulk Cable/Internet and Trash Fee ANNUAL REVENUE UPSIDE $10,000
AXIS Multifamily is pleased to present the exclusive opportunity to acquire Cherokee Hills, a 20-unit multifamily asset located in Warr Acres, OK. The property benefits from exceptional accessibility, situated directly along MacArthur Boulevard, a major north-south arterial corridor, and within minutes of both the Northwest Expressway (State Highway 3) and Historic Route 66 (NW 39th Street). This prime location provides residents with convenient access to downtown Oklahoma City. Cherokee Hills is located in the Central Oklahoma City submarket, which has averaged 3.2% annual rent growth over the past 5 years. Average rent for the comparable properties is $972 per unit.
VALUE-ADD SUMMARY
Over $80,000 in Potential Revenue Upside
Rents are $300 Below Competitors 100% Classic interiors provide new ownership the opportunity to bring all units to a consistent renovation level ANNUAL REVENUE UPSIDE $60,000
Implement RUBS T-12 Utility expense is over $18,000 ANNUAL REVENUE UPSIDE $10,000
Utility Efficiencies To cut down on utility costs, new ownership can install LED exterior lighting, water savings program and smart thermostats
Ancillary Income Add Covered Parking, Bulk Cable/Internet and Trash Fee ANNUAL REVENUE UPSIDE $10,000
Data Room Click Here to Access
- Operating and Financials
Property Facts
| Sale Type | Investment | Lot Size | 0.83 AC |
| No. Units | 20 | Building Size | 13,020 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1970 |
| Building Class | B | Parking Ratio | 3.07/1,000 SF |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.83 AC |
| Building Size | 13,020 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 3.07/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 650 |
| 2+1 | 4 | - | 800 |
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Property Taxes
| Parcel Number | 188512210 | Improvements Assessment | $68,666 |
| Land Assessment | $6,409 | Total Assessment | $75,075 |
Property Taxes
Parcel Number
188512210
Land Assessment
$6,409
Improvements Assessment
$68,666
Total Assessment
$75,075
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Cherokee Hills Apartments | 7215-7219 N MacArthur Blvd
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