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The Villas at Stonelake 7404 Lyrewood Ln 160 Unit Apartment Building $8,800,000 ($55,000/Unit) 9.09% Cap Rate Oklahoma City, OK 73132
INVESTMENT HIGHLIGHTS
- Low Income Housing Tax Credit Opportunity (Federal & State)
- Excellent Location with EMBARK bus stop on premises
- Qualifies for Acquisition Credits (owned by seller over 10 years)
- Spacious Floor Plans
EXECUTIVE SUMMARY
Low Income Housing Tax Credit Opportunity. Owned by seller over 10 years (since 2011) & eligible for acquisition credits. Can qualify for both federal and state credits. Significant rehab needed. Property will be in a Qualified Census Tract in 2026.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$1,402,476
|
$8.98
|
| Other Income |
$309,380
|
$1.98
|
| Vacancy Loss |
$70,124
|
$0.45
|
| Effective Gross Income |
$1,641,732
|
$10.52
|
| Taxes |
$126,055
|
$0.81
|
| Operating Expenses |
$698,348
|
$4.47
|
| Total Expenses |
$824,403
|
$5.28
|
| Net Operating Income |
$817,329
|
$5.24
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $1,402,476 |
| Annual Per SF | $8.98 |
| Other Income | |
|---|---|
| Annual | $309,380 |
| Annual Per SF | $1.98 |
| Vacancy Loss | |
|---|---|
| Annual | $70,124 |
| Annual Per SF | $0.45 |
| Effective Gross Income | |
|---|---|
| Annual | $1,641,732 |
| Annual Per SF | $10.52 |
| Taxes | |
|---|---|
| Annual | $126,055 |
| Annual Per SF | $0.81 |
| Operating Expenses | |
|---|---|
| Annual | $698,348 |
| Annual Per SF | $4.47 |
| Total Expenses | |
|---|---|
| Annual | $824,403 |
| Annual Per SF | $5.28 |
| Net Operating Income | |
|---|---|
| Annual | $817,329 |
| Annual Per SF | $5.24 |
PROPERTY FACTS
| Price | $8,800,000 | Building Class | C |
| Price Per Unit | $55,000 | Lot Size | 7.76 AC |
| Sale Type | Investment | Building Size | 156,123 SF |
| Cap Rate | 9.09% | Average Occupancy | 40% |
| No. Units | 160 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.13/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-4 | ||
| Price | $8,800,000 |
| Price Per Unit | $55,000 |
| Sale Type | Investment |
| Cap Rate | 9.09% |
| No. Units | 160 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.76 AC |
| Building Size | 156,123 SF |
| Average Occupancy | 40% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.13/1,000 SF |
| Zoning | R-4 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
- Patio
- Porch
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Courtyard
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Maintenance on site
- Pond
- Public Transportation
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 68 | $750.00 | 750 |
| 2+2 | 24 | $900.00 | 1,100 |
| 2+2.5 | 68 | $900.00 | 1,200 |
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PROPERTY TAXES
| Parcel Number | 140151925 | Total Assessment | $358,798 (2024) |
| Land Assessment | $43,599 (2024) | Annual Taxes | $126,055 ($0.81/SF) |
| Improvements Assessment | $315,199 (2024) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
140151925
Land Assessment
$43,599 (2024)
Improvements Assessment
$315,199 (2024)
Total Assessment
$358,798 (2024)
Annual Taxes
$126,055 ($0.81/SF)
Tax Year
2026
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The Villas at Stonelake | 7404 Lyrewood Ln
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